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Know your Industry

Each Entrepreneur is responsible for his business decisions.For smooth running of an organisation, he should check the below things:
1.    How difficult is a new firm to establish in  your industry?
2.    Which are the competitive products in the target market?
3.    How much strong is your Suppliers and Buyers to negotiate the prices ?
4.    What is the expectation of quality?
5.    Is there an access and availability of Land , Labour and Capital ?
6.    Which firms dominate your local market and why ?
7.    Is there any scope for launching a new product to beat the competitors
8.    Which firm have the Price Leadership and why?