In which situation should an entrepreneur consider changing the plan?
Answer and explanation
Correct answer: When customer needs and market conditions change
A business plan is a guide, not an unchangeable promise. If customer preferences, technology, regulations or market conditions change, the original assumptions may no longer fit. The entrepreneur should review evidence and adapt the plan. Option A gives a valid reason; success, balance or satisfaction alone do not require an immediate change.
Frequently asked questions
What is the correct answer to this question?
When customer needs and market conditions change
Why is this the correct answer?
A business plan is a guide, not an unchangeable promise. If customer preferences, technology, regulations or market conditions change, the original assumptions may no longer fit. The entrepreneur should review evidence and adapt the plan. Option A gives a valid reason; success, balance or satisfaction alone do not require an immediate change.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
