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Discuss Why It May Be Important for an Entrepreneur to Focus

question 66

Essay

Discuss why it may be important for an entrepreneur to focus on the solution of a consumer problem rather than on a description of the product.


Definitions:

Internal Attribution

The process of ascribing the cause of a behavior to personal aspects such as personality, disposition, or attitude.

Self-Serving Bias

The tendency to take credit for success but deny responsibility for failure.

Attribution Error

A cognitive bias that occurs when individuals incorrectly attribute causes for behaviors or events, often underestimating situational factors and overestimating personal factors.

External Attribution

The process of attributing one's own actions or the behaviors of others to external factors or situational causes.

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