TLE reviewer - Hilda T. dela Cuesta Business Opportunities...

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Hilda T. dela Cuesta Business Opportunities In discovering business opportunities, the following factors or resources have to e evaluated: 1.Market- numbers of prospective buyers, presence of competitors and pricCapital-es and quality of goods/services. 2.Individual Interests- it should match business opportunities. 3.Capital- Money is very important in putting up a business enterprise. 4.Skills- The entrepreneur should have the proper skills in the business he is going to undertake. 5. Suppliers of Inputs- it is equally important that these are steady suppliers of raw materials and other inputs of the business. 6.Manpower- the success of any business enterprise primarily depends on the efficiency of its employees. 7.Technology- heavily influenced by innovations and innovations are the product of technology. -Backward integration is the ownership or control of the inputs of production by the enterprise. -Forward integration is the ownership or control of the marketing system by the enterprise. -The best way to evaluate business opportunities is to conduct a market research. The steps are: 1.Defining the problem. 2.Making a preliminary investigation. 3.Planning the research. 4.Gathering the data. 5.Analyzing the data. 6.Reaching a conclusion/discussion. 7.Implementing and evaluating decisions. Business Planning -any activity concerned with choosing the best means to achieve a given goal. It is also defined as decision making about the future, in simple language, it is thinking ahead. Principles of Planning:
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TLE reviewer - Hilda T. dela Cuesta Business Opportunities...

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