Specific Areas of Managerial Incompetence Contributing to Small Business Failure

question 15

Multiple Choice

Specific areas of managerial incompetence contributing to small business failure include:

• A) company management does not ask for help.
• B) lack of financial skill.
• C) poor or non-existent management information systems.
• D) all of the answers are correct.

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Definitions:

Self-knowledge

An individual's understanding and awareness of their own personality, preferences, and capabilities.

Self-evaluation

Self-evaluation involves assessing one's own abilities, actions, and qualities, typically regarding performance in various aspects of life or tasks.

Self-starter

Describes an individual who initiates work and projects without needing external motivation or pressure, demonstrating independence and proactive behavior.

Visual Self-recognition

The ability to recognize oneself in a mirror or photograph, usually developed by humans around 18 to 24 months of age.