INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All of the following can help you determine if a business opportunity is realistic except
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the rate of business failure
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the market for that kind of business
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the background needed to run that kind of business
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the interest rates for loans at different banks
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Explanation:
Detailed explanation-1: -Conduct market research to determine whether her business idea is a business opportunity that its a consumer need or want.
Detailed explanation-2: -Entrepreneurs discover opportunities when they search for them in existing markets. This means they observe technological, economic or social trends. Recognising opportunities is a cognitive process. It relies on the ability of people to recognise patterns and connect the dots.
Detailed explanation-3: -Identify Your Pain Points. When searching for potential market needs, start with yourself. Conduct Market Research. Another way to prove whether a business idea is viable is by conducting market research. Question Processes. 05-Apr-2022
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