An Entrepreneur Faces Which of the Following Environmental Forces

question 67

Multiple Choice

An entrepreneur faces which of the following environmental forces?

• A) hiring and retaining employees
• B) dealing with vendors and suppliers
• C) fighting government regulations
• D) identifying product opportunities

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Definitions:

Licensing

An agreement whereby a licensee obtains the rights to use the licensed property of a licensor under specified conditions, often seen in software, franchise businesses, and intellectual property.

Local Market

A market within a specific geographical area where goods and services are exchanged within the local community.

Globalization

The process of interaction and integration among people, companies, and governments worldwide, largely driven by international trade and investment and aided by information technology.

Economic Reforms

Government policies aimed at improving a country's economic efficiency by reducing restrictions, encouraging free-market conditions, and fostering competition.