Question

If you were an entrepreneur looking to open a new company, what do you think would be the biggest benefit to researching case studies of other companies in the same industry? Why?

Answer 1

Answer and explanation:

Regardless of the type of industry, an entrepreneur is planning to open a new business, researching information of past companies similar that the one the entrepreneur is intending to open will allow him to identify success stories as well as failures. This information could be important at the moment of implementing strategies in the organization. Besides, customer information could be found that could help the entrepreneur understand their preferences and behavior and, last but not least, the entrepreneur could obtain a general idea of what competitors are doing because he will have to fight against them.

Answer 2

After researching same industry the following possible Benefits may be :

1. We can came to know about the Demand of Customer.

2. As we already know the preference of the customer so we can easily work out on that area to attain good profit.

3. Goodwill of the firm will be very high from the beginning as we have already servery the market in advance .

Explanation:

Over all benefits can be attained by the Entrepreneur if if researching case study of other company has already been done.