Discuss Two Ways for Entrepreneurial Success

question 11

Essay

Discuss two ways for entrepreneurial success.

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Definitions:

External Recruitment

The process of searching for and hiring candidates from outside the organization to fill open positions, expanding the pool of potential talent.

Workforce

The collective group of individuals engaged in or available for work, either in a particular area or in a specific industry.

Downsizing

The reduction of an organization's workforce to cut costs and improve efficiency, often resulting in job losses.

Surplus Labor

Refers to the portion of labor capacity that exceeds the necessary labor for producing a desired output.