Risks and Failures in Entrepreneurship
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Questions and Answers

What is considered a positive learning experience in entrepreneurship?

  • Failure (correct)
  • Complacency
  • Risk
  • Success
  • What is the most important trait for entrepreneurs to overcome failure?

  • Luck
  • Connections
  • Wealth
  • Persistence (correct)
  • What was identified as a significant factor in 82% of small-business failures within the first five years?

  • Cash flow issues (correct)
  • Lack of innovation
  • Market saturation
  • High competition
  • Which factor contributes to a bad business idea according to the text?

    <p>Lack of market opportunity</p> Signup and view all the answers

    What is a common challenge faced by many new entrepreneurs according to the text?

    <p>Insufficient cash flow</p> Signup and view all the answers

    What factor often leads businesses to run out of money, as mentioned in the text?

    <p>Cash flow issues</p> Signup and view all the answers

    What is a common risk related to the physical location of a business?

    <p>Fire, theft, and hazards</p> Signup and view all the answers

    How can a business reduce the risk associated with handling hazardous materials?

    <p>By following safety standards and procedures</p> Signup and view all the answers

    What is a consequence of selling products faster than expected without a growth strategy?

    <p>Business failure</p> Signup and view all the answers

    In what situations can employee fraud occur?

    <p>When employees have access to financial accounts</p> Signup and view all the answers

    Why are power outages considered a significant risk for businesses relying on technology?

    <p>They can bring operations to a halt</p> Signup and view all the answers

    What is a consequence of making wrong decisions in business?

    <p>Unavoidable outcomes</p> Signup and view all the answers

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