True or False Question True or false: If individuals are not detail oriented, then a business that is procedurally complex and involves managing a wide variety of tasks may be appropriate.

Substitutions are graded based on the entrepreneur's unique resources and similarities with their abilities. Alternatives meet the same basic needs that the product or service meets.

Competitive analysis is important for the following reasons: It helps identify ways to improve your own business strategy. It teaches you how to outperform your competitors in these areas to get the attention of your customers. The result is a competitive advantage over other companies in the industry.

Entrepreneurs need to respond quickly to identified business opportunities in order to maximize profits. If a potential business owner has multiple ideas about a business, he or she needs to identify one to perform a due diligence analysis.

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