An Error of Omission Occurs When an Entrepreneur

question 24

Multiple Choice

An error of omission occurs when an entrepreneur: 

• A) enters a market but overestimates the customer demand.
• B) develops a product for a market that is too narrow.
• C) decides not to enter a market that is, in fact, desirable.
• D) fails to understand the limitations of a market.

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Definitions:

Human Resource

The department within an organization that deals with employee-related issues, including recruitment, training, and benefits.

Cultural Differences

The variation in the ways of life, beliefs, norms, and practices among various groups of people, from language and religion to food and social habits.

Cross-cultural Training

Education or training designed to help people from different cultural backgrounds communicate more effectively.

Departure Phase

The final stage of an employee's cycle in an organization, which includes resignation, retirement, or termination.