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Anika [276]
3 years ago
11

Paul worked as an artisan at a furniture company where a set of artisans were required to produce a specific part of a product,

and the product was later assembled. Paul quit his job and started a small furniture business where he crafts unique products based on the demands of his customers. He feels that the constant need to adapt and outperform himself keeps him focused and motivated to improve his craft. Which advantage of entrepreneurship is highlighted in the given scenario?
a.Challenge
b.Greater financial success
c.Survival
d.Greater tractability
Business
1 answer:
SpyIntel [72]3 years ago
6 0

Answer:

Challenge

Explanation:

Challenge is considered as an entrepreneurial advantage because it tend to 'force' people to actively improve themselves and find out inventive way to solve a problem.

When people feel that their job is not challenging enough, overtime they will feel that their activities become stale and boring. This will lead to the situation where they become unmotivated to even to come to work.

Having enough challenge at your work will keep you curious.

Like Paul, your work will make you feel excited and strive to prove yourself. This will make you constantly try to adapt to new things and keep improvising your craft.

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Answer:

d

Explanation:

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3 0
1 year ago
Many small firms seek to establish a particular niche in the market, realizing that they cannot afford to operate on a larger sc
Karolina [17]

Answer:

Letter A is correct. <u>Fostering competition.</u>

Explanation:

In this case, it is correct to say that small businesses are fostering competition.

Competition in the business world can be defined as a situation where two or more companies that supply products are rivals in the quest to conquer the same market and the same customers.

Large companies often have some dominance and influence over the market, which means that they impose various barriers to market entry by other competing companies, especially if they are micro-companies. In the case of the above question, when there are a large number of small companies looking to establish themselves in a specific niche in the market, due to possible retaliation by large companies, together, they are exerting an influence on the market that promotes competition.

4 0
3 years ago
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Ira Lisetskai [31]

Answer:

<u>Ensure accurate reliable accounting records</u>

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The purpose of internal control is to safeguard assets, ensure that employees adhere by company policies, compliance with the law, promote operational efficiency and ensure reliable financial reporting without misrepresentation of facts.

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3 years ago
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