ENTREPRENEURSHIP

Detailed explanation-1: -According to the U.S. Bureau of Labor Statistics (BLS), this isn’t necessarily true. Data from the BLS shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years.

Detailed explanation-2: -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-3: -The correct answer is C) passion for the business, tenacity despite failure, product/customer focus, and execution intelligence.

Detailed explanation-4: -Generally, there is a high rate of entrepreneurship failure because they failed to manage the risk of ventures. Entrepreneurs failed to diversify or understand the risk of their ventures, sometimes their strategies towards the management of debts in the venture also failed due to the lack of financial skills.

Detailed explanation-5: -All firms fall along a conceptual continuum that ranges from highly conservative to highly entrepreneurial. The position of a firm on this continuum is referred to as its entrepreneurial intensity.