Question

Assume that you are a young, motivated entrepreneur, hungry to start your own company and reach...

Assume that you are a young, motivated entrepreneur, hungry to start your own company and reach great success. Of the following 4 entrepreneurial strategies, which one or combination of more than one, would you select in starting your business? Explain why you made that choice. (You may also explain the product or service that your company provides since that may influence the choice of your strategy) Growth, Innovation, Network Financing, and Governance

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Answer #1

Being a young entrepreneur I would choose to have the Innovation, Growth and Network Financing strategies in place since this is an era or technological growth. Everyother there is some thing new that is being innovated to meet the customer needs and demands. Take for instance a phone that has got various shapes and names from that of being a landline connection. Today smart phones have turned out to be an integral part of an individual's life by replacing landlines, replacing cameras and replacing music systems and all thiis were done to make the phones more user friendly.

Hence innovation and growth is something that a young entrepreneur has to look at. whilst all this being in place they should also have enough funds to support their growth for which the crowd financing and other network financing options comes in for the rescue.

Growth, Innovation and Network Financing are three essentials that are required for any business irrespective of the nature of product or service. Hence for a business to excel an entrepreneur will have to follow all the above strategies.

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