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An entrepreneur finds a new opportunity completely unrelated to the current business. Which question is most important before deciding?

Answer and explanation

Correct answer: Whether the required skills, resources and management capacity are available

An unrelated opportunity may require unfamiliar technology, suppliers, customers, regulations, and managerial skills. Before entering it, the entrepreneur should check whether the organisation has the resources and capability to execute the idea without weakening the existing business. A name or friends’ opinions cannot establish feasibility. Thus A is correct.

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DiversificationCapabilityIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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