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?