Question: What is an industry analysis and why is it important for a new firm to analyze the industry in which it may choose to compete?

  1. What is an industry analysis and why is it important for a new firm to analyze the industry in which it may choose to compete?
  2. What are the advantages of preparing a business plan for a new venture?
  3. What are some of the specific steps hat can be taken in an entrepreneurial venture for the purpose of building a strong ethical culture?
  4. What is the purpose of a forecast? What factors does a firm use to create its forecasts of future income and expenses?

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