MGT 260 : Unit 1 Discussion BoardNameInstitutionWhy I would open my commercial enterprise during stinting crisisStarting a blood line during recession presents both a challenge and an opportunity , equipage in spirit that recessions argon the worst stinting dates . However , as an enterpriser with sufficient capital , recession would not stand in my way to opening my own fear because there be a number of opportunities that economic downturn comes with that as an current , conceptual and focused business person I would employment to stay strong throughout the crisisTo begin with , success in opening a business during recession lies in the entrepreneur s mindset seeing the recession as the doorway towards an economic boom assists in ensuring that the entrepreneur remains prospective and bearing in future . Here , recessio n presents to me a extended opportunity to position myself , familiarize with the industry gather selective information , strategize , establish relationships and identify potential commercialise shares .
As suggested by Ferrers (2010 , there are three major issues to pore on during recession that will put the business unto the adjust wagon train in preparation for the boom the hanker term goals the business nature and the customersResearch allows meter for research and information and strategic market planning so that when the economy begins to survival of the fittest , no time will be wasted on the elementary things regarding the world of operation (Ferrers 2010 . Furthermore , starting the business during a time of econ! omic downturn will change me to experience the risks and challenges that economic crisis brings to the...If you want to get a ample essay, order it on our website:
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