Explain does evidence show us about the rate of failure associated with entrepreneurial ventures

Essay Questions (Choose any 4 out of 6)


1. Explain does evidence show us about the rate of failure associated with entrepreneurial ventures?


(10 marks)


External Factors:


– market conditions


– economic fluctuations


– regulatory environments


– market volatility


– rapid changes in consumer preferences


– economic downturns


– stringent regulatory requirements


– compliance burdens


– technological disruption


– competitive pressures


– geopolitical instability


– rapid advancements in technology


Internal Factors:


– founder characteristics


– organizational culture


– strategic decision-making


– founder experience, expertise, and resilience


– inadequate business planning


– poor execution


– lack of management skill


– fail to adequately assess demand or differentiate their offerings from competitors


– inefficient resource allocation


– failure to make changes in response to feedback


– overreliance on a single product or revenue stream


2. Critically evaluate three main attributes of firms that pursue high levels of corporate entrepreneurship


(10 marks)


i. Proactive and Risk-Taking Mind Set


ii. Innovation and Growth Orientation


iii. Organizational Agility


3. Justify with example why is passion such an important characteristic of successful entrepreneurs?


(10 marks)


i. Sustained motivation


ii. Resilience and Perseverance


iii. Building Strong Relationships


iv. Enhanced Focus and Commitment


v. Higher Productivity and Innovation


4. In general, based on your own opinion what effects does entrepreneurship have on economies and societies throughout the world?


(10 marks)


i. Entrepreneurs possess a unique ability to identify market gaps, unmet needs and emerging trends which are the opportunities that others may not see them.


ii. Entrepreneurs create new businesses, businesses require human resources to bring the ideas to life, and thus leading to job creation.


iii. Entrepreneurs establish businesses in specific regions, the economic activity is also stimulated, investments come in and the regional development of supportive ecosystems is stimulated.


iv. Entrepreneurship, when combined with ESG considerations, becomes a powerful force for positive cultural and social change.


5. Discuss with example how do entrepreneurial firms have a positive impact on larger firms?


(10 marks)


i. Innovation diffusion and advancement


ii. iii. iv. v. vi. vii. Trend recognition and market assessmentElevated competitiveness and effectivenessCollaborations and acquisitionsCorporate incubators and venture capitalTalent cultivation and acquisitionEnvironmental, social, and governance (ESG) initiatives


6. Elaborate with example the four distinctive parts of the entrepreneurial process and what is the relationship among the parts.


(10 marks)


i. Ideation
ii. Opportunity Evaluation
iii. Resource Acquisition
iv. Execution




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