ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
GLOBALIZATION AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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effective planning and management
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tax breaks
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today’s global economy
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today’s job market
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Detailed explanation-1: -What Are the Odds of Succeeding? According to the U.S. Small Business Administration (SBA), roughly 70% of all new businesses survive for the first two years. Beyond that, the chances of success fall to about 50% at five years.
Detailed explanation-2: -Sets objectives and benchmarks: Proper planning helps a business set realistic objectives and assign stipulated time for those goals to be met. This results in long-term profitability. It also lets a company set benchmarks and Key Performance Indicators (KPIs) necessary to reach its goals.
Detailed explanation-3: -A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives. Benjamin Franklin once said, “If you fail to plan, you are planning to fail.” (Benjamin Franklin).
Detailed explanation-4: -Get Organized. To achieve business success you need to be organized. Keep Detailed Records. All successful businesses keep detailed records. Analyze Your Competition. Competition breeds the best results. Understand the Risks and Rewards. Be Creative. Stay Focused. Prepare to Make Sacrifices. Provide Great Service. More items