ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A ____ is a clear and concise description of an opportunity.
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business model
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feasibility analysis
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business concept
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business plan
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Explanation:
Detailed explanation-1: -business concept. This is a clear and concise description of a business opportunity; it contains four elements: the product or service, the customer, the benefit, and the distribution. These are distinctive aspects, qualities, or characteristics of a product or service.
Detailed explanation-2: -There are three common types of businesses-sole proprietorship, partnership, and corporation-and each comes with its own set of advantages and disadvantages.
Detailed explanation-3: -Put simply: a business idea is a concept that could be used to make money, and an opportunity has proven commercial value. Knowing the difference between an idea and an opportunity is crucial to avoid wasting significant time and money.
There is 1 question to complete.