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What does adaptability mean for an entrepreneur?

Answer and explanation

Correct answer: Making suitable changes to plans and methods according to the situation

Adaptability is the ability to respond sensibly when market conditions, technology, competition, or customer preferences change. An adaptable entrepreneur reviews the situation, learns from experience, and modifies plans or methods when necessary. Rejecting all change, repeating mistakes, or ignoring customers shows rigidity rather than adaptability.

Related tags

AdaptabilityMarket ChangeCustomer NeedsEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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