INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Recession /economic / political problems and instability
|
|
|
Poor reputation which can lead to loss of sales, loss of revenue and loss of profitability
|
|
|
Commercial risks, failure of suppliers to supply and customers to pay
|
|
|
Better work/life balance
|
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: -Which of the following is NOT considered a risk of being an entrepreneur? Providing value to others is considered a benefit of being an entrepreneur, not something you have to risk.
Detailed explanation-3: -Market uncertainty, financial risk, health risk, and no guaranteed returns are the risks associated with starting a business enterprise. There are many rewards of running a business; these include freedom, job satisfaction, and financial gains.
Detailed explanation-4: -Managing cash flow. Finding your niche and marketing your value. Ineffective sales funnel. Competition. Lack of scalability. Overcoming red tape. Operational challenges. Entrepreneurial burnout. More items