Why do small businesses have a high risk of failure? Also, research the Internet and find...

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Operations Management

Why do small businesses have a high risk of failure? Also,research the Internet and find the top 3 businesses that fail andgive the reasons why they failed? Discuss with your classmates.
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Some of the reasons which I can think of which contributes to high risk of failure of small businesses are discussed under below points Poor Management Business visionaries have control over their organizations and with extraordinary force comes incredible duty The executives is incompletely about mentality and attitude and it has an impact on your main concern Here and there entrepreneurs become stubborn with regards to doing certain things This is particularly valid for veteran entrepreneurs For new business people ensure you dont fall into this snare Also to be reasonable its not simply entrepreneurs Its everyone Its human instinct and we are for the most part blameworthy of it sooner or later in our lives Presumption and smugness commonly happen when a business is progressing nicely and fall into an incorrect conviction that all is well with the world that your business is working in the most ideal and most gainful manner That is unequivocally when false notion swoops in and unleashes devastation in case youre not cautious Lack of Data Your private venture is contending with money rich behemoths like WalMart and Starbucks What do those mammoths have available to them Information Huge amounts of information Despite the fact that your market is a lot littler you should in any case assemble as much data as possible On the off chance that you dont have understanding into the presentation of your business progressively it will definitely restrain your capacity See Answer

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