As a firm establishes a track record for performance, that performance, along with the goods or...

As a firm establishes a track record for performance, that performance, along with the goods or services it creates become key elements of the firm's and entrepreneur's identity

Expert Solution

The firm's identity and entrepreneur's identity refers to the image of the business and the business owner in the eyes of all the third parties. The third parties include the vendors, clients, debtors, creditors.investors. probable investors and even the government.

The image of the firm and the entrepreneur is made on the basis of the transactions and deals they make. In the corporate environment, the actions and behaviours in the eye of public of a founder or the founding team make the identity of the business and the individual identity as well.

The creation and subsequent further development of a firm along with its entrepreneur evolve together,as the business activities are coupled with the individual identity iof its owner.

The key factors that make or break the identity shall be the goodwill of the entity based on the past transactions and the satisfaction the customers earn by using its product. So, a firm establishes a track record for performance paves the way for its goodwill and the goods or services it creates paves the way for consumer satisfation. They both become the key elements of the firm's identity and the entrepreneur of the firm is known by the identity of the firm . So, these are important factors for both the firm's and entrepreneur's identity.

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