What Challenges Do Entrepreneurs Face in Implementing Innovative Approaches?
Despite the benefits, entrepreneurs may encounter several challenges when implementing innovative approaches:
- Resource Constraints: Limited funding and human resources can hinder innovation efforts. - Resistance to Change: Overcoming organizational inertia and employee resistance. - Market Uncertainty: Navigating the risks associated with entering uncharted territories. - Regulatory Hurdles: Complying with existing regulations while innovating.