Question

role of entrepreneurs during various transition stages​

Answer 1

Answer:

Entrepreneurs create organizations that offer employment to millions of people. They convert resources into useful products and services. They create goods and services and improve the living standards of people in a country.

Explanation:

Stage 1: "Uninformed Optimism". At this point you are on a roller coaster, just getting on the top of the rollercoaster, experiencing feelings of an adrenalin rush, characterized by nervous energy and excitement. It's at the point where you are starting out, You are full of energy thinking of how you are going to change the world, this is before reality has set in, obsessed with the vision of what you want to build.

Stage 2: "Informed Pessimism". As you get to the top, you are now more informed, you have less assumptions, feelings of fear starts to set in, you become more nervous and frustration starts to set in and their part of you that wants to run away or hide.

Stage 3 – The third stage "Crisis of Meaning". You're not scared anymore even though you feel like giving up. Is more of you feel as if you are on the end of your world, you feel terrified and all odds are against you. You even die (Not physical death) where the old has to go. If you are not careful you may hit bottom of the curve where you crash and burn, The point where your business goes bankrupt, get stressed, get a divorce, you start drinking. It advisable to seek support when you hit this point, from family and friends or other entrepreneur who underwent a similar circumstance.

Stage 4 – Informed Optimism. You're a little wiser and calm. You're informed in other words cautiously optimistic. You now know what you know, know what you don't Know and you are able to find who know what you don't know.