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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The economy affects what competitors are doing.
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New legislation will be written in the future.
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Low investor confidence heavily impacts financial planners.
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The economy affects banking institutions.
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Detailed explanation-1: -Examples of environmental factors affecting business include employees, competitors, suppliers, customers’ needs, owners, government regulations, market trends, technological developments, social factors, and economic factors.
Detailed explanation-2: -The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company. These factors are often beyond a company’s control, and may be either large-scale (macro) or small-scale (micro).
Detailed explanation-3: -Organizational culture, processes, and infrastructure. Product standards. Quality standards. Government standards. Market standards and conditions. Codes of conduct. Staffing guidelines. Reviews and training records. More items •16-Mar-2023