Question

Discuss the following statement: “Regardless of the amount of finance already invested by an entrepreneur in pursuit of a business idea, not all ideas are considered opportunities.” Do you agree? Why or why not?

Answer 1

Yes, I agree with the statement because business ideas can be considered business opportunities when it satisfies the needs of customers and turns the business profitable.
Following points will emphasise on business ideas and opportunities
1. Business idea is a plan and business opportunity can be obtained only after executing the plan properly. However certain ideas even after careful execution fail to provide fruitful results.
2. Business Plan is required to weed out unfeasible business ideas. When we create a business plan we do intensive research about the acceptability of the idea by the market, the cost of funding, the potential customers, and the feedback of potential customers about the idea. It will give a correct picture whether the business idea can be profitable or not.
3. Team and Leadership can brainstorm every business ideas meticulously to screen only commercially viable idea. This will ensure non feasible business ideas will be dropped before initiation of the project.
4. Most important reason behind failure of business idea in today's competitive world is that somebody else has also started with the same but has executed it to perfection leaving the business idea with lot of challenges to convert it into a commercially successful idea.

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