. Question1 (100) You have decided that you would rather become an entrepreneur than to work for another entrepreneur and therefore have identified a business opportunity in the market to pursue. You are required to answer the following questions based on your own business idea that you have identified. 1.1 Describe the business opportunity you have identified in the market. (5) 1.2. Provide a detailed explanation of your business idea. In addition, provide the reasons why you have chosen this specific business idea. (10) 1.3 Provide an analysis of the viability of your business idea. Focus on the following in your analysis: a market analysis a technical viability assessment a financial viability assessment an ecological viability assessment. (20) 1.4 In order for your business to develop, it needs various resources. One of these resources is capital. Indicate the source of the capital you will make use of to start and develop your business. (20) 1.5 Explain why and in which way knowledge of Management Accounting will be advantageous to you in your business. You need to focus on internal operational finances when making business decisions and whether to buy or lease equipment. (10) 1.6 Describe how your product or service will satisfy the needs of your external consumers. (10) 1.7 Describe the strengths of your product and how you will position it in the market environment. Provide reasons for your answer (10) 1.8 Select the type of ownership you will implement in your business and provide reasons for your choice. (15)