The reasons for customers to be important in the external environment. Introduction: External environment refers to the factors that take place outside the organization, which has a direct impact on the business operations. This impact is very much essential for the growth of the business.

Question

4. The entrepreneurial environment is the combination of factors that affect entrepreneurs and their businesses. Thus entrepreneurial environment includes different types of entrepreneuship because have different aspirations and visions for the kind of businesses they want to create. a. Explain what an entrepreneurial ecosystem is. (2 marks)

Answer 1

Question

Chapter 3, Problem 4DQ

Summary Introduction

To determine:

The reasons for customers to be important in the external environment.

Introduction:

External environment refers to the factors that take place outside the organization, which has a direct impact on the business operations. This impact is very much essential for the growth of the business.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

4. The entrepreneurial environment is the combination of factors that affect entrepreneurs and their businesses. Thus entrepreneurial environment includes different types of entrepreneuship because have different aspirations and visions for the kind of businesses they want to create. a. Explain what an entrepreneurial ecosystem is. (2 marks)

3. Securing needed financing is one of the most important functions related to starting a business. Therefore, it is important to understand what sources of financing exist at various stages of venture development. It is also important to determine what kind of financing provides the most value for the entrepreneur and the new venture. Equity financing is one way entrepreneurs use to access funding. a. What is equity financing? (3 marks) b. State and expain two (2) examples of equity funding. c. State three advantages of equity financing? (4 marks) (3 marks)

2. Define the following terms: a. Opportunity recognition b. Sharing economy c. Intrapreneurship d. Debt financing (3 marks) (3 marks) (3 marks) (3 marks)