CSEET · Economic and Business Environment · Entrepreneurship Scenario
In the entrepreneurial process, which of the following activities is normally carried out first?
Identifying and evaluating a business opportunity comes first in the entrepreneurial process. Resource planning, venture setup, launch and later growth or exit all depend on first establishing that a real, viable opportunity exists in the market.
- AIdentifying and evaluating a business opportunityCorrect
- BLaunching the product in the market
- CArranging working capital for daily operations
- DHarvesting or exiting the venture
Explanation
The entrepreneurial process begins with spotting and evaluating an opportunity. Only after that does the entrepreneur plan resources, set up the venture, launch it and later manage growth or exit. Launching or raising working capital before checking viability would be premature.
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