INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
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Introduction
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Growth
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Maturity
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Decline
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Detailed explanation-1: -Some factors leading to business harvest include the untimely death of the entrepreneur, serious ill health, or poor mental health. Unrest in the labour market or loss of key expertise may force the entrepreneur to harvest the business. Generally, harvesting reasons are unique to each entrepreneurial entity [5].
Detailed explanation-2: -The “Five Stages of Entrepreneurship” is a simple framework that helps new founders to understand the entrepreneurship journey. The stages include ideation, planning, execution, scaling, and hypergrowth.
Detailed explanation-3: -Entrepreneurial decision-making factors The literature suggests that there are several factors that are taken into consideration when planning a new venture, including the idea itself, potential customer demand, the market gap, scalability, start-up costs and market attractiveness.
Detailed explanation-4: -Stage 1: Inspiration and ideation. Stage 2: Execution. Stage 3: Scaling the business. Step 4: Reaching the top of the mountain. 07-Nov-2019