Explain the 4 Types of Entrepreneurs and Firm Growth

question 27

Essay

Explain the 4 types of entrepreneurs and firm growth.
Entrepreneurs in the upper-right quadrant possess both the necessary abilities to make the transition to a more professional management approach and the aspiration to grow their businesses.These are the entrepreneurs who are the most likely to achieve firm growth.
Entrepreneurs in the upper-left quadrant possess the necessary abilities for transition but do not aspire to do so.These are the entrepreneurs of firms that have unused potential.A relatively large proportion of all lifestyle firms are represented by this classification.
Entrepreneurs in the lower-right quadrant aspire to grow their businesses but do not possess sufficient abilities to successfully satisfy this aspiration.
These entrepreneurs are most likely to be frustrated by the firm's lack of growth and are in the most danger of failure because the firm may be pushed toward the pursuit of growth opportunities and beyond the entrepreneur's ability to cope.
Entrepreneurs in the lower-left quadrant possess neither the necessary abilities to make the transition to a more professional management approach nor the aspirations to grow their businesses.These businesses have little potential for growth,and due to the limited abilities of the entrepreneur to manage growth,these firms may actually perform better if they remain at a smaller scale.

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Definitions:

Nicotine

A stimulating and highly addictive psychoactive drug in tobacco.

Distractibility

The condition of having one's attention easily diverted from one task or thought to another, often resulting in difficulties in concentration or focus.

Cardiac Arrest

A sudden, unexpected loss of heart function, breathing, and consciousness, typically caused by an electrical disturbance in the heart.

Convulsions

Involuntary, rapid contractions of muscles which can be a symptom of various medical conditions, including epilepsy and fever.