Imagine that you want to open a bookstore near the university. You’ve already formulated the company’s mission, identified the characteristics of future customers, know the products and how to inform university students about your business. You’ve also discerned how many competing bookstores exist in the area and what assortment they have. Your business plan is almost complete. Now all that’s left to do is to calculate all the expected costs and revenues, and so determine whether the business will actually
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