Examveda

A business idea becomes a good business opportunity when it covers which four of the following?
1. Attractiveness
2. Foreign collaborations
3. Political support
4. Timelines
5. Durability
6. Value addition to end user.

A. 1, 2, 4 and 5

B. 1, 2, 5 and 6

C. 1, 4, 5 and 6

D. 2, 3, 5 and 6

Answer: Option C

Solution (By Examveda Team)

A good business opportunity isn't just about having a cool idea; it needs several key elements. Let's break it down based on the options.

1. Attractiveness: This is essential because your idea needs to appeal to customers. If they don't find it appealing, they won't want to buy it.

2. Foreign collaborations: While collaborations can help, they're not essential for every great business idea. Many businesses succeed without needing foreign partnerships.

3. Political support: Government support can be useful, but a business can still thrive without it. Many successful businesses started and grew without government backing.

4. Timelines: A good business opportunity needs to be launched and scaled within a reasonable timeframe. A delayed launch could cause you to miss out on key market opportunities.

5. Durability: The longevity of the idea matters. Will your business remain relevant and profitable in the future? It’s essential that your idea lasts over time.

6. Value addition to the end-user: This is crucial! If your business offers something truly useful or valuable to people, it’s more likely to succeed.

Thus, Option C (1, 4, 5, and 6) is the correct choice. A successful business opportunity needs to attract customers, be timely, have durability, and offer value to the user.

This Question Belongs to Management >> Entrepreneurship And Innovation

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Comments (2)

  1. Vidya Shree
    Vidya Shree:
    8 months ago

    Wrong options

  2. Jean Jacques
    Jean Jacques:
    9 months ago

    How comes this 6?

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