Assessing Business Attractiveness
ICSE · Class 11 · Entrepreneurship
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What does business attractiveness mean?
Answer
Business attractiveness refers to the overall potential of a business idea to succeed in the market environment by generating consistent demand, producing efficiently, earning sustainable profits, man…
Why is assessing business attractiveness a critical pre-launch activity?
Answer
It is a critical pre-launch activity because it reduces uncertainty, minimizes risk, and increases the chance of long-term success. Many businesses fail not because the idea is poor, but because it wa…
Which five major analyses are used to assess business attractiveness?
Answer
The five major analyses are Technical Analysis, Market Analysis, Financial Analysis, Organisational Analysis, and Competition Analysis and Safeguards.
What does technical analysis check in a business idea?
Answer
Technical analysis checks whether the business idea can be practically implemented using available technology, infrastructure, and operational systems. It asks whether it is technically feasible to pr…
What are the main technical requirements of a business?
Answer
Technical requirements include machinery and production equipment, tools and instruments, software systems and digital platforms, information technology infrastructure, and quality control mechanisms.
What factors affect technology selection?
Answer
Technology selection depends on the nature of the product, scale of operations, budget constraints, availability of skilled labour, and industry standards. The right technology should match the busine…
Why must modern technology be chosen carefully?
Answer
Modern technology improves speed, accuracy, and competitiveness, but it also increases fixed costs. That is why cost-benefit analysis is essential before choosing it.
Arrange the product development stages in the correct order.
Answer
Idea → Research → Feasibility Study → Design → Prototype → Testing → Modification → Production → Launch…
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