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Entrepreneurship Preparation and Planning

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Entrepreneurship Preparation and Planning

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Questions and Answers

What type of businesses are considered attractive in the text?

Businesses with low operating margins

Businesses that are highly dependent on key raw materials

Businesses that are early in their life cycle (correct)

Businesses that are crowded

Which factor indicates an unattractive target market?

Having high operating margins

Dependence on historically low prices of raw materials (correct)

Being fragmented rather than concentrated

Selling products that customers 'want to have'

What is the challenge in identifying an attractive target market?

Choosing a market with highly concentrated businesses

Finding a market with low operating margins

Identifying a market with shrinking growth

Selecting a market that's small enough to avoid attracting larger competitors (correct)

What is the purpose of an organizational feasibility analysis?

To determine if the business has sufficient management expertise Signup and view all the answers

What type of products do attractive businesses sell, according to the text?

'Must-have' products and services Signup and view all the answers

What does not describe an attractive business based on the text?

Being highly dependent on the historically low price of a key raw material Signup and view all the answers

What is an essential feature of attractive businesses?

Selling products and services that customers 'want to have' Signup and view all the answers

What does not describe unattractive businesses according to the text?

Growing rather than shrinking Signup and view all the answers

What is conducted in an organizational feasibility analysis?