Which of the following is the purpose of an opportunity analysis?
A) to obtain financing
B) to negotiate agreements with suppliers
C) to excite potential customers
D) to specify resources needed to translate an idea into a viable business
E) to work out the details of marketing, finance, and manufacturing

Question

Quizplus · Accepted Answer

The purpose of an opportunity analysis is to specify the resources needed to translate an idea into a viable business. It includes assessing the market, identifying competitors, determining the target market, and estimating the financial requirements. Option A is incorrect as obtaining financing is part of the business plan. Option B is incorrect as negotiation with suppliers is part of the procurement process. Option C is incorrect as exciting potential customers is part of the marketing strategy. Option E is incorrect as working out the details of marketing, finance, and manufacturing is part of the business plan.

Which of the Following Is the Purpose of an Opportunity