Entrepreneurship and Venture Creation B
17 pages
(4250 words)
, Download 3
, Assignment
Planning and networking should be very strong and he should be able to reformulate the strategies according to dynamics of market (Burns, 2014).... In fact, establishment of business requires extensive market research for identifying the resource requirements and analyse degree of competition prevailing in the industry (Barrow, Barrow and Brown, 2015).... Apart from identifying the physical and financial resources as well as prevalence of business opportunity in the market segment, a detailed business plan must be prepared well in advance taking into consideration the nature and scope of business, establishment cost, source of supply, pricing and promotional strategies, technological involvements, supply chain and many more critical aspects....