If you were an entrepreneur looking to open a new company, what do you think would be the biggest benefit to researching case st

Question

raketka [301]

3 years ago

13

If you were an entrepreneur looking to open a new company, what do you think would be the biggest benefit to researching case st

udies of other companies in the same industry? Why?

Business

2 answers:

Sunny_sXe [5.5K] · Answer 1 · 2022-01-29T08:32:22+03:00

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 <em>identify success stories as well as failures</em>. This information could be important at the moment of <em>implementing strategies</em> in the organization. Besides, <em>customer information </em>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 <em>what competitors are doing</em> because he will have to fight against them.

Nikolay [14] · Answer 2 · 2022-01-29T06:02:26+03:00

<h2>After researching same industry the following possible Benefits may be :</h2><h2>1. We can came to know about the Demand of Customer.</h2><h2>2. As we already know the preference of the customer so we can easily work out on that area to attain good profit.</h2><h2>3. Goodwill of the firm will be very high from the beginning as we have already servery the market in advance .</h2><h2 />

Explanation:

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