Write paragraphs on the conflict over the ethical issue of entrepreneurship.

Use the following as a guideline:

- Define the term 'Innovative entrepreneurship' and give THREE reasons why having a strong personal mission statement would be beneficial for entrepreneurs. (1+3)

- Analyze TWO conflict management techniques which new entrepreneurs could consider if they get into conflict with a customer. (2x4)

- Evaluate TWO impacts of converting a traditional business into an e-business. (2x4)

Innovative entrepreneurship involves a personal mission statement for entrepreneurs. Conflict management techniques for new entrepreneurs involve active listening and collaborative problem-solving. Converting a traditional business into an e-business impacts market reach and operational costs.

Explanation:

Innovative entrepreneurship refers to the creation of new products, services, or processes through an entrepreneurial mindset. Three reasons why having a strong personal mission statement is beneficial for entrepreneurs include:

Setting a clear direction for their business goals.
Motivating themselves and their team during challenging times.
Guiding decision-making in alignment with their values.

Two conflict management techniques new entrepreneurs could consider if they get into conflict with a customer are:

Active listening: Listening attentively to the customer's concerns to understand their perspective.
Collaborative problem-solving: Working together with the customer to find a mutually beneficial solution.

Converting a traditional business into an e-business can have two impacts:

Increased market reach and accessibility to a wider customer base.
Reduced operational costs and overhead expenses through automation and digital processes.
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