Question

The more information an entrepreneur acquires during the process of _____, the higher the chance that his or her predictions will be close to the mark, risk will be reduced, and uncertainty managed.

Answer 1

The more information an entrepreneur acquires during the process of feasibility analysis, the higher the chance that his or her predictions will be close to the mark, risk will be reduced, and uncertainty managed.

Explanation:

The study or examination about the extent to which the proposed idea will be practical and can be achieved at an economic manner refers to the feasibility study. In business it is very essential to decide whether to take up a project or not. It also helps in narrowing the project and plan accordingly.

It also helps in making predictions about whether the expected results can be attained from a particular idea or a project. Thus during the feasibility study the entrepreneur must obtain as much information as possible as it helps him in the evaluation of risks, uncertainties and other related things.