ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Without legitimacy, entrepreneurs have to enter meetings with cold, unfriendly investors for funding or regulators for approvals, waste many dollars and efforts to acquire users, and struggle with opportunistic co-founders or mediocre suppliers. Such efforts are unlikely to be effective nor efficient.

Detailed explanation-2: -You should strive to work smarter, not harder. Smart entrepreneurs create realistic schedules they can actually achieve within a given period. They maximize their productivity by leveraging tools that can make them achieve more without necessarily working harder.

Detailed explanation-3: –You can generate legitimacy by visibly conforming to rules and expectations created by governments, credentialing associations, and professional organizations; by endorsing widely held values; and by visibly practicing widely held beliefs.

Detailed explanation-4: -Involving themselves in a business not suitable for their capacity. Assuming they can handle everything by themselves. Having no certain business objectives. Not preparing a proper business plan. Underestimating marketing’s importance. More items •23-May-2022