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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Zarif Nabotov
Competitive Tactics of Small and Medium Enterprises in the Public Procurement Market
2017
A study by Cardon, Stevens, and Potter (2011) aimed to discover the cause of

entrepreneurial failure. Entrepreneurial failure occurs when the business venture is no

longer in operation (Cardon et al., 2011). Cardon et al. determined failure occurred

because of mistakes made by the entrepreneur and misfortunes that were out of the

control of the entrepreneur. The geographical area chosen was another cause of failure

(Cardon et al., 2011). However, Askim-Lovseth and Feinberg (2012) noted that a failure

can be a crossroads that can lead to future success of their next venture. Entrepreneurs

can learn from their previous losses as well as from other’s business misfortunes (Askim-

Lovseth & Feinberg, 2012). Cope (2011) agreed that failure for an entrepreneur is one of

the most difficult, but valuable learning experience for them.

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