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Running head: ENTREPRENEURSHIP QUESTIONS
Chapter 6 Short Answer Question
Many entrepreneurs, particularly those with from the STEM disciplines, lack objectivity
and have no real insight into the marketplace. Why are these characteristics considered pitfalls
when assessing opportunities and selecting new ventures?
Objectivity is the specific result aimed at within a particular time frame using the
currently available resources. Entrepreneurs in the STEM disciplines often lack this skill, a
characteristic which makes it difficult for them to identify the right opportunities or new ventures
suitable for them given the resources available to them while often miscalculating and wrongly
estimating the amount of time it would require them to achieve their desired objectives. The
resulting mismatch of resources to opportunities and erroneous estimation of the required time to
achieve set objectives often results to new venture failure.
The ability to study, understand, and interpret information regarding the market is a
critical and necessary skill for entrepreneurs across all sectors. The market is the driving force of