Which of the following is the correct process of setting up an enterprise?
Answer & explanation
Correct answer: option 1
The correct answer is Option 1- Resource mobilization-Scanning the environment for entrepreneurial opportunities-Development of product/service idea-Assessment of feasibility of the idea and preparation of a business plan-Appraisal by the funding agencies-Project Commissioning and launch-Adaptation and management of growth.
The process of setting up a business is as under:
1)Resource mobilization
2)Scanning the environment for entrepreneurial opportunities
3)Development of product/service idea
4)Assessment of feasibility of the idea and preparation of a business plan
5)Appraisal by the funding agencies
6)Project Commissioning and launch
7) Adaptation and management of growth