Why is taking advice from a mentor useful for an entrepreneur?
Answer and explanation
Correct answer: To receive experience-based guidance and avoid mistakes
A mentor can share practical knowledge gained from earlier business experiences and help an entrepreneur examine risks, alternatives, and likely consequences. This guidance may prevent common mistakes and improve the quality of decisions, but the entrepreneur must still evaluate the advice and remain responsible for the final choice. Therefore, depending on a mentor for learning is useful; surrendering all decisions or avoiding customers is not.
Frequently asked questions
What is the correct answer to this question?
To receive experience-based guidance and avoid mistakes
Why is this the correct answer?
A mentor can share practical knowledge gained from earlier business experiences and help an entrepreneur examine risks, alternatives, and likely consequences. This guidance may prevent common mistakes and improve the quality of decisions, but the entrepreneur must still evaluate the advice and remain responsible for the final choice. Therefore, depending on a mentor for learning is useful; surrendering all decisions or avoiding customers is not.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
