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Entrepreneurship: Financial and Strategic Risks

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Entrepreneurship: Financial and Strategic Risks

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Questions and Answers

What is one of the significant entrepreneurial risks mentioned in the text?

Market Risk

Reputational Risk (correct)

Financial Risk

Regulatory Risk

Why does a steep decline in revenue follow if a company's reputation gets damaged?

Loss of competitive advantage

Increase in marketing expenses

Decrease in operational efficiency

Negative impact on goodwill among customers (correct)

What can impact the operational efficiency of a company besides people or process failure?

Low employee turnover rate

Increased competition

High demand for the product

External events like natural disasters (correct)

Why is it crucial for entrepreneurs to be aware of competitors?

To understand market demand Signup and view all the answers

What happens when a company is unable to carry out routine business activities efficiently?

Decrease in revenue Signup and view all the answers

How can lack of competitors impact an industry according to the text?

May suggest insufficient product demand Signup and view all the answers

What is a critical risk faced by entrepreneurs according to the text?

Financial Risk Signup and view all the answers

Which risk deals with the need for technology acceptance in a competitive industry?

Technology Risk Signup and view all the answers

What can cause an increase in demand for luxury products according to the text?

Market-based factors Signup and view all the answers

Which risk involves the challenge of adapting to changing legal environments?

Compliance Risk Signup and view all the answers

What is mentioned as a factor that can make a well-thought-out business plan ineffective?

Adaptation to changing environment Signup and view all the answers

In which risk does the text highlight the necessity of a near flawless business plan?

Strategic Risk Signup and view all the answers