Entrepreneurs are aware that new ventures come with certain risks, whether they are financial, market based, or organizational in nature. Being mindful that your venture can fail is not enough; it is necessary to develop a plan for a possible collapse. With these thoughts in mind, and based on your reading for this week: Consider some real-world examples of companies that have gone bankrupt. What were the conditions that brought the companies to that point? Are there alternative options to bankruptcy for a failing business, like selling or reorganizing? What financial, organizational, and operational circumstances might allow such alternatives to be considered viable? Explain.
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