Question

According to research studies, what element was reported as the most important factor to new venture success? a. the uniqueness of the product or service to fulfill a customer need b. the financial support to help the company through the initial years c. the lead entrepreneur and quality of the initial team d. the size of the lead entrepreneurs network

Answer 1

C. the lead entrepreneur and quality of the initial team.

Step-by-step explanation:

According to research studies, the lead entrepreneur and quality of the initial team was reported as the most important factor to new venture success.

The lead entrepreneur is usually responsible for developing ideas, concepts and strategies to make the business venture achieve its goals, mission and objectives.

Also, with the assistance of the initial team they are able to identify, analyze and provide proper risk management in order to scale up the business successfully.