In which situation would opportunity selection be considered weak?
Answer and explanation
Correct answer: When it is based only on a guess and customer needs are not checked
An opportunity should be examined through customer needs, market conditions, competition, and financial feasibility. Choosing an idea only on the basis of a personal guess leaves demand untested and increases uncertainty. A survey, a real problem, and cost-income estimates provide evidence for a stronger decision. Therefore, option A describes the weak approach.
Frequently asked questions
What is the correct answer to this question?
When it is based only on a guess and customer needs are not checked
Why is this the correct answer?
An opportunity should be examined through customer needs, market conditions, competition, and financial feasibility. Choosing an idea only on the basis of a personal guess leaves demand untested and increases uncertainty. A survey, a real problem, and cost-income estimates provide evidence for a stronger decision. Therefore, option A describes the weak approach.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
