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Briefly explain the crisis faced by organization in entrepreneurial stage and strategies to avoid that

Briefly explain the crisis faced by organization in entrepreneurial stage and strategies to avoid that

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Answer #1

Organization at entrepreneur stage faces many challenges due to lack of experience in the business domain. Few of the challenges are:

Hiring correct employee

Hiring best suited for the job employee

Delegation of task

Trust in employee

Capital

Budget

Market insight

Customer base

The right approach for entry into a market

Certifications, documentation, and registration

These can be avoided by hiring a correct consultant in the beginning who can advise on various legal to corporate issues. A board of some experts can advise on the issue of legal, business, HR etc

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