A lot of persons encounter difficulties when trying to select an enterprise... The truth is selecting an enterprise is a critical process because a little error can be very risky.. So i thought about developing my ideas on this...who knows who i might be helping?
I HOPE YOU FIND MY WRITEUP HELPFUL...
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An enterprise is any production unit that combines resources to achieve its strategic objective. Enterprise selection is the act of choosing a company or business that you feel is viable enough to practice. It has to do with the ability to think new projects out and make them successful.
The economics of enterprise selection involves the organization of one's mind, thoughts and capital towards the project in order to make it successful.
There are necessary steps that guides one in selecting an enterprise. They include
a. Consider on a broad scale all the posibilities for potential enterprises. Research is very essential at this point. You can involve friends and relatives because this is a brainstorming process. Always remember, no idea is too silly
b. List out all the resources or services at your disposal and those you can easily get hold of. Some services are very easy to provide while others are not. If one is inexperienced, it is often best to start with the easy ones even though profit margins may not be as high as the difficult ones.
c. Every enterprise has limiting factors that could inhibit its growth. Find out what these factors are and how much it can affect your business.
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With these few factors put into consideration, one can easily ascertain if venturing into a business is feasible or not...
Do we share same thoughts... Let's hear your point of view
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