The most important thing an entrepreneur does before launching a venture is to complete a ________.This is a written document that summarizes a business opportunity and articulates how the identified opportunity is to be exploited.

Question

Quizplus · Accepted Answer

A business plan is a written document that summarizes a business opportunity and articulates how the identified opportunity is to be exploited. It includes details on the market, competition, marketing and sales strategies, operations, management, and financial projections. A feasibility study, on the other hand, focuses on determining if the business idea is feasible or not, while a market strategy and financial projection are components of a business plan. Therefore, the best choice is B.

The Most Important Thing an Entrepreneur Does Before Launching a Venture