After selection of a product or commodity or service, entrepreneur endeavours to convert it into reality or tries to give a practical shape to the ideas or concepts. He starts thinking about the production and starts contemplating on the following issues. What would be the nature of scheme or project required for its production. Where and when it would be implement. Who would manage and organise the enterprise, what would be the cost of establishment, how much they would react, what kind of packing would be used, what would be the nature of publicity or advertisement, campaign, what kind of distribution arrangements from where the money would be a for production and other running expenses. What would be the scope of profit or in other works the practical evaluation of each and every aspect would be taken into consideration.
All the above parameters and their relevant aspects together from a questionnaire and the entrepreneur holds a monologue to confirm the veracity and viability of the projector or also to seek an interaction with the experts before giving a final shape to dream project.
After going through this entire rigmarole an entrepreneur in the true sense engages himself in establishing his enterprise project. Here the important point is to see whatever the project is small or big the study of practicality is very imperative for it serves as a basic of the planning and project report.
