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Why is identifying a problem important for a successful entrepreneur?

Answer and explanation

Correct answer: Because it helps understand the customer’s real need

A clearly identified problem shows what customers are struggling with and what value they may seek. The entrepreneur can then design a relevant product or service and test whether people will use or pay for it. Option A is correct. Problem identification does not make costs zero, remove all risk or replace planning.

Related tags

Entrepreneurial-SkillsProblem-SolvingCustomer-NeedsEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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