INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
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The potential success of an entrepreneurial venture is determined through a
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feasibility study
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vision statement
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mission statement
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profit and loss statement
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Explanation:
Detailed explanation-1: -A feasibility study is a detailed analysis that considers all of the critical aspects of a proposed project in order to determine the likelihood of it succeeding. Success in business may be defined primarily by return on investment, meaning that the project will generate enough profit to justify the investment.
Detailed explanation-2: -One of the primary reasons why an entrepreneur should conduct a feasibility study is to identify any possible barriers to success. By doing so, they can assess the risks associated with the business and develop strategies to overcome them. This can help them avoid costly mistakes and improve the chances of success.
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