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Why is experimentation required in Entrepreneurship?

Why is experimentation required in Entrepreneurship?

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Answer #1

Answer-Experimentation is required in entrepreneurship because-

1. By experimentation, entrepreneurs are able to obtain real-world data about the environment.

2. By experimentation, an entrepreneur is able to use the perfect method for the production process.

3. Experimentation will help an entrepreneur to find out their exact market segment by conducting some marketing experiments.

4. Experimentation helps entrepreneurs to identify future threats of the markets.

5.Experimentation also helps in the decision making for an entreprenureship.

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