Entrepreneur’s decisions can strengthen or seriously weaken a firm’s future business viability."" Discuss this statement in the light of necessity of ethics for society and development of business.
Answers
Answer:
An entrepreneur plans for whatever he/she expects in the business. He/she does not leave things to luck. He/she plans by breaking large tasks down into small once and puts time limits against them.
Explanation:
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Entrepreneur’s decisions can strengthen or seriously weaken a firm’s future business viability is a true statement.
An entrepreneur should not forget that for success to be long-lasting, he/ she will have to follow some ethical standards in their business practices.
Some practices to be followed by them are given below :
(а) By providing good quality and the right quantity of goods to consumers
(b) During the production of goods always keep in mind the environmental issues.
(c) By paying the minimum salary to the workers.
(d) Always keep in mind not to use child labor in their production.
(e) Sensible use of natural resources.
Hope this answer will help you.
Here are some more questions from this chapter :
Differentiate between an entrepreneur and an employee.
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Competencies is a set of defined behaviours."" State the types of competencies required by an entrepreneur? Explain.
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