INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Common reasons for entrepreneurial failure include all but which one of the following?
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poor impleme-ntation
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adequate financial support
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faulty product desgin
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lack of capital
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Explanation:
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: -FAILURE TO ASSESS THE MARKET This is the single biggest reason businesses fail: 42% go under because there is no market for their product.
Detailed explanation-3: -Poor cash flow management. Losing control of the finances. Bad planning and a lack of strategy. Weak leadership. Overdependence on a few big customers.
There is 1 question to complete.