Arrange the following steps of the entrepreneurship development process in a logical sequence.
(A) Launching the venture
(B) Appraisal by the funding agencies
(C) Developing a business plan
(D) Identifying entrepreneurial opportunities
Choose the correct answer from the options given below:
Arrange the following steps of the entrepreneurship development process in a logical sequence.
(A) Launching the venture
(B) Appraisal by the funding agencies
(C) Developing a business plan
(D) Identifying entrepreneurial opportunities
Choose the correct answer from the options given below:
Solution
Option 1 -> Follows the natural progression: identify opportunity → plan → seek funding → launch the business.
Option 2 -> Illogical sequence as it starts with appraisal before identifying opportunities or creating a business plan.
Option 3 -> Incorrect order as it suggests launching the venture before identifying opportunities and developing a plan.
Option 4 -> Flawed sequence as it suggests developing a business plan before identifying entrepreneurial opportunities.
Hence, Option 1: (D), (C), (B), (A) -> The entrepreneurship development process logically begins with (D) identifying entrepreneurial opportunities in the market, followed by (C) developing a comprehensive business plan based on that opportunity, then (B) getting the plan appraised by funding agencies for financial support, and finally (A) launching the venture after securing necessary resources and approvals -> correct
Related questions:
2025: 15 May Shift 2
2022: 6 Oct Shift 1
2025: 16 May Shift 1