ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lack of research, preparation, and planning.
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Poor management and leadership skills.
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Lack of financial capital.
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All are reasons why businesses fail.
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Detailed explanation-1: -The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.
Detailed explanation-2: -Poor financial management Inefficient processes, inaccurate forecasts, and a general lack of awareness of your company’s spending and income, are some of the biggest reasons why a business can fail. Many businesses take about 2-3 years to become profitable.
Detailed explanation-3: -Lack of research. Not having a business plan. Not having the business funding they need. Financial mismanagement. Poor marketing. Not keeping abreast of customer needs or the competition. Failing to adapt. Growing too quickly. More items •06-Jul-2021
Detailed explanation-4: -Poor cash flow management. Losing control of the finances. Bad planning and a lack of strategy. Weak leadership. Overdependence on a few big customers.