Question

discuss the structural challenges unique to enterpreneurial firms?

Answer 1

Solution:

Entrepreneurs have to undergo several challenges in order to make an idea big and develop it into a big business offering values to their stakeholders. Entrepreneurs also face several structural challenges that are very much specific to entrepreneurs. These challenges include the monetary aspects of running business operations. With a minimal budget, one has to undertake several business operations that are critical for the functioning of the business. Hence, monetary support is a critical element that impacts the level of structural challenges faced by entrepreneurs.

Another set of structural challenges arise when the business operations are well funded but there is infrastructural inadequacy to perform the job efficiently. Many startups or small businesses operate on a small budget and hence having all the infrastructure that is necessary to perform the business operations at their maximum efficiency is not a likely scenario and hence inadequacy of appropriate infrastructure if another structural challenge that Entrepreneurs have to face.

One should also note the strucutral challenges that relate to getting the clients for the business. This is another challenge which is somewhat related to the strucutral issues of the startup. Having no social proof making it a bif issue and a strucutral challenge to deal with. This issue is particular to every new business and hence almost all the Entrepreneurs have faced this issues once in their entrepreneurial journey.

Hence, these are some of the strucutral challenges faced by Entrepreneurs.