One of the Issues an Entrepreneur Must Address Before Going

question 45

True/False

One of the issues an entrepreneur must address before going global is whether or not there is a profitable market in which the firm has the potential to be successful for an extended period of time.

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Definitions:

Large Companies

Businesses characterized by significant revenue, extensive operational scales, or substantial numbers of employees, often having considerable influence in their respective markets.

Internal Control

A system of policies and procedures implemented by a firm to safeguard its assets, ensure financial reporting accuracy, promote operational efficiency, and encourage adherence to prescribed managerial policies.

Operational Efficiency

The ability of an organization to minimize input and operational costs while maximizing output or productivity.

Internal Controls

Procedures and measures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.