ENTREPRENEURSHIP

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ENTREPRENEURSHIP AND THE GLOBAL ECONOMY

CULTURAL DIFFERENCES AND ENTREPRENEURSHIP

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
After Porter realized that he processed an order incorrectly, he waited too long to correct the problem. As a result, an incorrect item was shipped to the customer. Now, the customer will need to ship the item back to the warehouse, and Porter’s company will need to pay extra charges to have the product returned. What does this situation illustrate?
A
Customers are likely to be very angry when employees make mistakes.
B
Employees should tell their supervisors about all problems as soon as they occur.
C
The company has unrealistic expectations about Porter’s ability to perform his job.
D
The decisions and actions of an employee can negatively impact others.
Explanation: 

Detailed explanation-1: -Identifying a customer’s pain points is the first step for entrepreneurs in developing a new product. Julia Austin offers tips for choosing the right “job to be done.” As an entrepreneur, how confident are you that you fully understand your customer’s pain points or their job to be done?

Detailed explanation-2: -One way to better understand a market’s opportunities is to conduct a market analysis, which is an analysis of the overall interest in the product or service within the industry by its target market to determine its viability and profit potential.

Detailed explanation-3: -What is often a positive result of accepting responsibility for a poor decision? You reinforce skeptical attitudes.

Detailed explanation-4: -What is a way in which entrepreneurs solve the customer’s problem of lack of money? Deliver previously unaffordable products or services for less. Lack of money is a problem experienced by customers of many new startups.

There is 1 question to complete.
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