Which of the Following Questions Should an Entrepreneur Ask When

question 26

Multiple Choice

Which of the following questions should an entrepreneur ask when a business plan is turned down?

• A)Can't you recognize a good plan when you see one?
• B)Can you identify friends who would like this kind of deal?
• C)If you were in my position, how would you proceed?
• D)Can I ask you why you didn't like me?

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Definitions:

Mediation

A method of settling disputes outside of court by using the services of a neutral third party, who acts as a communicating agent between the parties and assists them in negotiating a settlement. A method of dispute settlement that is less formal than arbitration.

ADR

Acronym for Alternative Dispute Resolution, which refers to methods like mediation and arbitration used to settle disputes without traditional litigation.

Negotiation

A process in which parties attempt to settle their dispute voluntarily, with or without attorneys to represent them.

Settlement Agreement

An out-of-court resolution to a legal dispute, agreed to by the parties in writing. A settlement agreement may be reached at any time prior to or during a trial.