Podcast
Questions and Answers
What is one of the significant entrepreneurial risks mentioned in the text?
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?
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?
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?
Why is it crucial for entrepreneurs to be aware of competitors?
What happens when a company is unable to carry out routine business activities efficiently?
What happens when a company is unable to carry out routine business activities efficiently?
How can lack of competitors impact an industry according to the text?
How can lack of competitors impact an industry according to the text?
What is a critical risk faced by entrepreneurs according to the text?
What is a critical risk faced by entrepreneurs according to the text?
Which risk deals with the need for technology acceptance in a competitive industry?
Which risk deals with the need for technology acceptance in a competitive industry?
What can cause an increase in demand for luxury products according to the text?
What can cause an increase in demand for luxury products according to the text?
Which risk involves the challenge of adapting to changing legal environments?
Which risk involves the challenge of adapting to changing legal environments?
What is mentioned as a factor that can make a well-thought-out business plan ineffective?
What is mentioned as a factor that can make a well-thought-out business plan ineffective?
In which risk does the text highlight the necessity of a near flawless business plan?
In which risk does the text highlight the necessity of a near flawless business plan?
