INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To secure funding for the business
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To detail how the company will be structured and to describe its operation
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To identify potential customers
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To determine if the business idea is viable
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Detailed explanation-1: -Business plans help companies identify their objectives and remain on track to meet goals. They can help companies start, manage themselves, and grow once up and running. They also act as a means to attract lenders and investors.
Detailed explanation-2: -2. What is the purpose of a Business Plan? ✓ The purpose of a Business Plan is to identify, describe and analyze a business opportunity and/or a business already under way, examining its technical, economic and financial feasibility.
Detailed explanation-3: -To assess the feasibility of your venture. The business plan process involves researching your target market, as well as the competitive landscape, and serves as a feasibility study for the success of your venture.