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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Lack of market research
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Poor financial control
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Poor management
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All the above
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Detailed explanation-1: -The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.
Detailed explanation-2: -Lack of market research. Poor financial control. Poor management. All the above.
Detailed explanation-3: -Businesses can fail as a result of wars, recessions, high taxation, high interest rates, excessive regulations, poor management decisions, insufficient marketing, inability to compete with other similar businesses, or a lack of interest from the public in the business’s offerings.
Detailed explanation-4: -Complacency. Not prioritizing sustainability. Not putting customers first. Not relentlessly innovating. Not thinking of themselves as tech companies. Not treating data as a key business asset. Failing to attract and keep talent. More items •29-Aug-2022