ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Businesses that utilize good time management are better positioned to consistently deliver their product, or service, on-time. Good time management also means that a business is able to solve problems that arise without it significantly impacting day-to-day operations.

Detailed explanation-2: -One of the most common ways entrepreneurs waste time is by failing to have a comprehensive business plan in place to keep them focused on their objectives and goals. Good business plans include: A detailed description of what your business will offer in the way of services or products.

Detailed explanation-3: -Managing the business’ financial health, focusing on the customer base, and developing and executing the business strategy are three key responsibilities for every entrepreneur.

Detailed explanation-4: -Bravery. In recognizing and pursuing and opportunity, an entrepreneur requires bravery. Vision. Vision guides the entrepreneur through the business planning process, clarifying the opportunity and setting goals for the organization. Respect for self and others. Trust. Honesty. Generosity. Fortitude. 01-Dec-2004