INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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a, what their competitors will do.
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b. where to find good prices on raw materials.
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c. the best time to start a project or venture.
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d. the best place to recruit new employees.
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Detailed explanation-1: -Feasibility studies help project managers determine the viability of a project or business venture by identifying the factors that can lead to its success. The study also shows the potential return on investment and any risks to the success of the venture.
Detailed explanation-2: -A feasibility study-sometimes called a feasibility analysis or feasibility report-is a way to evaluate whether or not a project plan could be successful. A feasibility study evaluates the practicality of your project plan in order to judge whether or not you’re able to move forward with the project.
Detailed explanation-3: -Feasibility study helps decision makers to determine the success or failure of a proposed project or investment. It evaluates the predicted cost and benefits of the proposed project.
Detailed explanation-4: -Performing a feasibility study allows entrepreneurs and business owners to assess the risks and rewards of a business venture before creating a complex business plan. They are an essential part of considering any new venture and can help you pursue the most lucrative projects for your business.