The Entrepreneurial spirit is one of the fastest growing…

Question Answered step-by-step The Entrepreneurial spirit is one of the fastest growing… The Entrepreneurial spirit is one of the fastest growing developmental activity in recent times. However, which of the following would be a reason for someone to be reluctant to become an entrepreneur? Options are limited for creative enterprises.  The government discourages entrepreneurs. You often use your own personal wealth to fund initial costs. People do not trust entrepreneurs.  You have selected to open a coffee shop within the town you reside to serve, your town and surrounding neighborhood, this represents what type of entrepreneurship?  Small business Social  Large company  Corporate   John creates a new product to sell and takes on all of the risks and responsibility for the venture. John is known as a/an? venture capitalist  entrepreneur  corporation  accountant  Why is it important for entrepreneurs to be problem solvers?  To effectively evaluate options To build confidence among employees All of the answers are correct.  To provide customers and employees with solutions  The raw materials are late for delivery, shutting down production. How would an entrepreneur most likely deal with the situation described  here? Start the process of problem solving as the problem develops Wait a day and decide the next steps  Seek advice Blame employees for being tardy  You have decided to market your own products, taking on the risks and reaping the rewards of the business, you should do all  of the following before starting the business EXCEPT? Register the business Post the business plan online to attract customers Seek Funding Complete a SWOT analysis  Roel has decided to start a business,  which of the following should be the first step Roel takes in starting the business? Conduct research to determine if there is a need for the product or service  Start pre-selling products.  Locate and rent or buy a large retail space that will allow for growth Start hiring staff  Roel has decided to start a business which of the following should be the first step Roel take in starting a business? Conduct research to determine if there is a need for the product or service Start pre-selling products Locate and rent or buy a large retail space that will allow for growth Begin the process of drawing position description, interviewing and hiring staff     Why is it important to create a business plan? The business plan is generic and can be applied to any idea. A business plan is not necessary. The business plan is used during the production processes and captures the company’s daily and reporting process activities. The business plan gives the entrepreneur a chance to think through the details of the business idea and make plans for the business.   How can the leadership of a business ensure that the company practices ethical behavior and social responsibility? Put a code of ethics and mission statement in place that support good corporate citizenship  Develop policies that promote social involvement in the community. All answers are correct. Work closely with the community groups to determine their needs  Business Entrepreneurship BUSINESS HBM004 Share QuestionEmailCopy link Comments (0)