INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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New businesses are often discontinued because of?
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Competitive pressure
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Low sales
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Higher than expected expenses
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All the above
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Explanation:
Detailed explanation-1: -Over a ten year period, well over 50% of all new businesses are discontinued. (Reasons: lack of adequate capital, low sales, higher than expected expenses, competitive pressure, an owner unprepared to manage a growing business, operations requiring more time than the owner is willing to commit.)
Detailed explanation-2: -Lack of Discipline The biggest reason that they fail is that the action elements are not applied, monitored regularly or refined when required. This results in lack of focus and direction. It also results in lack of energy…if actions aren’t being completed then nothing can be achieved.”
Detailed explanation-3: -New business ideas come about because of changes in what consumers demand.
There is 1 question to complete.