Describe the different stages of starting a new unit or business undertaking?
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In all, there are six distinct stages: Planning, Presence, Engagement, Formalized, Strategic, and Converged. With Planning, companies set out to create a strong foundation for strategy development, organizational alignment, resource development, and execution.
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Before starting a new business enterprise they are various things that should be kept in mind.
- The first and formers thing is the identification of the problem and working towards solving it.
- Complete market research should be done in order to understand the needs of the area within which we are going to start a business.
- Taste, preferences and cultural habits of the people also affect the success of the business.
- One should also have a dedicated and strong team who want to do something dedicatedly.
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