INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Houston’s Cupcake Kitchen experienced $30, 000 worth of storm damage due to Hurricane Harvey. When the store reopened 5 miles away from the original site, it experienced an immediate jump in sales. What does this illustrate?
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Hazards like hurricanes can force entrepreneurs to reinvest
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People are the most important commodity in any business venture
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Location risks can include risks to sales, not just disasters
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Businesses that learn through failure can sometimes succeed
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Explanation:
Detailed explanation-1: -A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts. A business plan helps you to: clarify your business idea.
Detailed explanation-2: -Step 1 – Initial Idea Exploration, Identification and Assessment. Step 2-Idea/Concept and Scenario/Model Deliberation and Assessment. Step 3-Go/No-Go Decision. Step 4 – Business Plan Preparation and Implementation. Step 5 – Business Operations. Conclusion.
There is 1 question to complete.