2.3.3 Flashcards by Mollie Brew | Brainscape

Q

What are the internal causes of business failure?

A

Failing to understand the market
Poor planning
Poor decision making
Badly organised
Overtrading
Non-viable idea in the first place

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Q

What are the external causes of business failure?

A

Economic environment
Changing social trends
Demographic changes
Political environment

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Q

If owners do not fully understand the needs of customers, are they likely to develop successful products?

A

No- they will fail to reach their target customers

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