Asked by Elorah Stoner on Jun 13, 2024
Verified
Reasons for new business failure include all the following except
A) lack of strategy and strategic leadership.
B) lack of marketing control.
C) lack of experience.
D) lack of commitment.
E) lack of expertise.
Lack of Marketing Control
This refers to a situation where a business is unable to influence its marketing environment effectively, often resulting in missed opportunities or decreased market share.
New Business Failure
The phenomenon where newly established businesses do not succeed and cease operations, often due to financial or operational difficulties.
Lack of Experience
The condition of having insufficient expertise or familiarity with a particular task, job, or subject area.
- Recognize significant contributors to new business failures and strategies for their mitigation.
Verified Answer
CS
Carley ShererJun 19, 2024
Final Answer :
B
Explanation :
While lack of strategy and strategic leadership, lack of experience, lack of commitment, and lack of expertise are all common reasons for new business failure, lack of marketing control is not typically considered a leading cause of failure. Proper marketing control may help a new business avoid other failures, but is not typically the main cause of business failure on its own.
Learning Objectives
- Recognize significant contributors to new business failures and strategies for their mitigation.