INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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global economic growth rates.
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all aspects of their businesses
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the daily activities of competitors
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reducing the need for financial records products.
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Detailed explanation-1: -Entrepreneurs have an important role in all business activity, especially with assisting in the start-up of a business. Entrepreneurs must: Show initiative-entrepreneurs can show initiative through being proactive and planning ahead. Initiative can also be demonstrated by taking steps to start the business.
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: -As a business owner or entrepreneur, you must assume that you’ll struggle, fail, and doubt yourself as you try to grow your business. You’ll waste a ton of time, your employees may not care, people will judge and criticize you, and you’ll likely need to seek help from a startup mentor-probably several startup mentors.
Detailed explanation-4: -Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business. Write your business plan. Fund your business. Pick your business location. Choose a business structure. Choose your business name. Register your business. Get federal and state tax IDs. More items