If an entrepreneur takes every decision alone and never consults experts, what problem may occur?
Answer and explanation
Correct answer: Important information may be missed
Business decisions often involve technical, legal, financial, marketing, and operational knowledge. One person may not notice every relevant issue, so refusing advice can cause avoidable errors, weak risk assessment, or missed opportunities. Seeking expert guidance does not mean surrendering responsibility; the entrepreneur still decides after evaluating advice. It improves the information base instead of guaranteeing that every decision is correct.
Frequently asked questions
What is the correct answer to this question?
Important information may be missed
Why is this the correct answer?
Business decisions often involve technical, legal, financial, marketing, and operational knowledge. One person may not notice every relevant issue, so refusing advice can cause avoidable errors, weak risk assessment, or missed opportunities. Seeking expert guidance does not mean surrendering responsibility; the entrepreneur still decides after evaluating advice. It improves the information base instead of guaranteeing that every decision is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
