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In which situation should an entrepreneur change the plan?

Answer and explanation

Correct answer: When customer needs, the market, or data clearly show a need for change

A business plan should be reviewed when evidence shows that assumptions are wrong or conditions have changed. Customer feedback, market movements, costs, and performance data can indicate that a product, price, process, or target market needs revision. Thus option A is correct. Changing a successful plan without reason, acting without information, or reacting only to fear is not sound planning.

Related tags

PlanningAdaptationEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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