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What will be the best basis of self-evaluation for an entrepreneur?

Answer and explanation

Correct answer: Sales, customer satisfaction, cost, quality and learning outcomes

An entrepreneur’s self-evaluation should use several indicators. Sales show market performance; customer satisfaction indicates acceptance of the service; cost reflects efficiency; quality shows the standard of the product or service; and learning outcomes indicate scope for improvement. Looking only at profit is incomplete because quality or customer satisfaction may still be low. Exam tip: choose the comprehensive option that covers both financial and non-financial measures.

Related tags

EntrepreneurshipSelf-EvaluationBusiness PerformanceCustomer SatisfactionQuality ManagementCost ControlEntrepreneurship: Definition And CharacteristicsEntrepreneurship Definition And Characteristics

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