This is typically the second step in the initial (pre-planning) phase of the entrepreneurial process.
A) researching the venture's feasibility
B) identifying potential opportunities
C) exploring finance options
D) pinpointing potential competitive advantages

Question

Quizplus · Accepted Answer

D) After a promising potential opportunity in the marketplace has been identified as step one of the process, the second step is to pinpoint competitive advantages that you might have in developing this opportunity, making "pinpointing potential competitive advantages" the correct response. If you seem to have a genuine competitive edge, the third step is to see how feasible the venture is by estimating costs and assessing competitors. The final step of the process, if other things check out, is to explore options for funding.

This Is Typically the Second Step in the Initial (Pre-Planning)