MANAGEMENT

Detailed explanation-1: -First, identify your competitors. This can be simple if there are one or two other companies that do what you do. Sometimes, it’s more complex. Work with your company leaders to identify where else customers go for the product or service you offer.

Detailed explanation-2: -High potential entrepreneurs usually run large companies employing somewhere between 20 and 500 people. These companies are often very fast-paced and experience high growth rates. They often develop and produce the latest technologies and innovations.

Detailed explanation-3: -Competition increases the creativity and innovative characteristics of the owner of an ordinary small business. The perspective of development and growth is usually manifested in the short, medium and long term plans of entrepreneurs.

Detailed explanation-4: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.