INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is a potential drawback of entrepreneurship related to work/life balance?
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Little opportunity for personal fulfillment
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Lower quality of life until the business gets established
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High levels of societal recognition
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Limited potential for profit
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Explanation:
Detailed explanation-1: -Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.
Detailed explanation-2: -Life cycle of the business venture. The failure of new small firms. Making wrong decisions. Poor quality of the analysis for Business plan. A range of Ethical problems. Legal considerations.
There is 1 question to complete.