ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Resourceful
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Finds opportunity in crisis
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Mindful of changes in the environment
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Networker
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Detailed explanation-1: -The major environmental factors in business are technological factors, economic factors, social factors, political factors and cultural factors. These environmental factors are further classified as either specific factors or general factors.
Detailed explanation-2: -It affects the decisions, strategies, process and performance of the business. The environment is consisting of factors which are beyond the control of the business (STEP) social, technological, economical, legal and political. It provides opportunities or poses threats to the organization.
Detailed explanation-3: -Adopt another way of thinking Try to develop a system of thinking outside the box, being creative, and visualize your plan. If you work with new people, you will learn a lot from them. Change the way you work and get rid of the fixed mindset. Develop a 360-degree view of your business.
Detailed explanation-4: -Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.