The Following Lists the Ten Deadly Mistakes of Entrepreneurship

question 37

Essay

The following lists the ten deadly mistakes of entrepreneurship:
1. Management mistakes
2. Lack of experience
3. Poor financial control
4. Weak marketing efforts
5. Failure to develop a strategic plan
6. Uncontrolled growth
7. Poor location
8. Improper inventory control
9. Incorrect pricing
10. Inability to make the entrepreneurial transition
Select one of these deadly mistakes, describe what it may look like for the entrepreneur, and give an example.

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Definitions:

Robert Merton's Typology

A framework developed by sociologist Robert Merton to categorize human responses to cultural goals and the means of achieving them.

Innovation

The process of creating new ideas, products, or methods, often leading to improvements or advancements.

Illegal Ways

Actions or methods that are contrary to or forbidden by law.

Secondary Deviance

In labeling theory, the subsequent deviant identity or career that develops as a result of being labeled deviant.