Why should an entrepreneur build a professional network?
Answer and explanation
Correct answer: To gain collaboration, advice, and business opportunities
A professional network connects an entrepreneur with mentors, suppliers, customers, experts, investors, and other business owners. Trustworthy relationships may provide advice, market information, referrals, resources, collaboration, and opportunities. Networking does not remove the entrepreneur’s responsibility to decide, and ethical networking is based on mutual value rather than ignoring customers or unfairly harming competitors.
Frequently asked questions
What is the correct answer to this question?
To gain collaboration, advice, and business opportunities
Why is this the correct answer?
A professional network connects an entrepreneur with mentors, suppliers, customers, experts, investors, and other business owners. Trustworthy relationships may provide advice, market information, referrals, resources, collaboration, and opportunities. Networking does not remove the entrepreneur’s responsibility to decide, and ethical networking is based on mutual value rather than ignoring customers or unfairly harming competitors.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
