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In entrepreneurship, what is the process of identifying a market need and developing a new or improved product or service to meet it called?

Answer and explanation

Correct answer: नवाचार (Innovation)

Innovation means applying a new or improved idea to create value. In entrepreneurship, it may involve a product, service, process, or business method that responds to a customer need or solves a problem better than existing choices. Job security, a complaint, and stable production do not describe this development process.

Related tags

InnovationEntrepreneurshipMarket NeedsEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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