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Describe the Process of Screening a Business Idea.

Describe the Process of Screening a Business Idea.

Answers

sharon
-After generating business ideas- it is important that some evaluation through a screening process be made.
-The screening process is a systematic evaluation ideas in order to select the best idea which would suit one.
-The screening process must be done carefully, objectively, soberly and without any emotions.
-The business idea screening is required even when there is only one idea to consider. This is because this is a stage of starting a business that may be not be profitable or may be difficult to run
-The screening process must therefore evaluate the following
a)Personal Evaluation
i)the objective for going to business
ii)personal interests
iii)The degree of commitment to the business or others e.g family.
iv)Personal Skills
b)The self SWOT analysis – this aims at analyzing ones
a.Strengths
b.Weaknesses
c.Opportunities
d.Treats
-This will help achieve the desired goals- the
S- Relates to the internal capacity of self or organization
W- Are subjective
O- Relates to the external environment to self or organization
T- Are objective.
sharon kalunda answered the question on April 16, 2019 at 12:56

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