Once Entrepreneurs Have Defined the Industry That Interests Them, Determined

question 28

True/False

Once entrepreneurs have defined the industry that interests them, determined who their potential customers might be and why they might want to buy from the business, the next step is to start understanding the competitive advantage of the business.

---

Definitions:

Agricultural Production

The process of cultivating crops and livestock for human consumption, a key sector in economies for providing food and raw materials.

Factory Workers

Individuals employed in factories or industrial sites, responsible for operating machinery, assembling products, and performing other tasks related to manufacturing.

Modernize

The process of adapting something to meet current standards or needs, often through the adoption of new technologies or practices.

Cultivated

Refers to land that has been prepared and used for crop production or gardening, also implies refinement or development of the mind or manners.