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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Develop a sound business strategy
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Aid the entrepreneur to work smartly rather than harder
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Setting clear business goals and objectives
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Predict the future
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Detailed explanation-1: -No business plan is good if it’s static and inflexible. Planning isn’t about predicting the future once a year and then following that predicted future no matter what. Planning is steering and management. It takes a process of regular review and course correction.
Detailed explanation-2: -A future growth plan is simply a blueprint for how companies plan to hit their targets over a certain period of time. Most growth plans cover a relatively short time-usually one or two years-but some businesses create plans that extend well beyond that.
Detailed explanation-3: -Not making one. As an entrepreneur, surely you’re more excited about doing the thing you want to do that writing a plan about it. Being unrealistic. Poor executive summary. Too long. Not backing up what you say. Not focusing on the team, and your role as the head. Sloppy mistakes. 20-Nov-2019
Detailed explanation-4: -Operational Planning. “Operational plans are about how things need to happen, ‘’ motivational leadership speaker Mack Story said at LinkedIn. Strategic Planning. “Strategic plans are all about why things need to happen, ‘’ Story said. Tactical Planning. Contingency Planning. 07-Jul-2017