ENT 3-1 Barriers and Factors Affecting Entrepreneurial Success

Front

What is one way to overcome regulatory issues as an entrepreneur?

Back

Stay informed and comply with regulations

Front

What is a common external factor that can impact entrepreneurial growth related to innovation? Options: Economic factors, Racial factors, Political factors, Social factors

Back

Political factors

Front

What role does passion play in being an entrepreneur?

Back

Passion can limit entrepreneurial success.

Front

What is a key performance indicator (KPI)?

Back

A metric for measuring business health.

Front

What is a common barrier to entrepreneurial success related to competition? Options: Ineffective sales and marketing strategy, Lack of innovation, Risk aversion, Poor vision

Back

Lack of innovation

Front

What is one way to manage cash flow? Options: Ignore expenses, Increase prices, Hire more employees, Create a budget

Back

Create a budget

Front

What is direct competition?

Back

When companies offer essentially the same product or service.

Front

What is one of the barriers to entrepreneurial success due to the nature of entrepreneurship? Options: Excessive hours required, People challenges, Regulatory issues, Lack of capital funding

Back

Excessive hours required

Front

What is the definition of direct competition?

Back

When companies offer essentially the same product or service

Front

What is a common barrier to entrepreneurial success related to resources? Options: Lack of innovation, Risk aversion, Poor vision, Lack of proper resources

Back

Lack of proper resources