What should be done before implementing a new business idea?
Answer and explanation
Correct answer: Its usefulness and market need should be evaluated
Before implementation, an entrepreneur should examine whether the idea solves a real problem, has sufficient demand, and is feasible with available money, skills, and resources. This evaluation reduces avoidable losses. Spending immediately, ignoring customers, or skipping feasibility checks increases uncertainty and business risk.
Frequently asked questions
What is the correct answer to this question?
Its usefulness and market need should be evaluated
Why is this the correct answer?
Before implementation, an entrepreneur should examine whether the idea solves a real problem, has sufficient demand, and is feasible with available money, skills, and resources. This evaluation reduces avoidable losses. Spending immediately, ignoring customers, or skipping feasibility checks increases uncertainty and business risk.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
