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Understanding the Market — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market4 Marks
Question
State and discuss the various miscellaneous internal factors which can contribute towards the success or failure of the business.
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Answer

Miscellaneous factors: Other internal factors which contribute to the success or failure of the business are as follows,
  1. Physical assets and facilities like production capacity, level of technology, quality standards, etc.
  2. Research and development capabilities determine a company's ability to innovate and compete.
  3. Marketing resources like quality of marketing men, brand equity, etc, affect a company's profitability.
  4. Financial factors like financial policies, financial position and capital structure are also important internal environment affecting business performances, strategies and decisions.

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