What does adaptability mean for an entrepreneur?
Answer and explanation
Correct answer: Making suitable changes in methods when conditions change
Adaptability is the ability to respond constructively when markets, technology, customer preferences, or business conditions change. An adaptable entrepreneur studies the new situation, evaluates alternatives, and modifies the plan or method where necessary. Therefore option A is correct. Fear, repeated mistakes, and ignoring customers show rigidity rather than adaptability.
Frequently asked questions
What is the correct answer to this question?
Making suitable changes in methods when conditions change
Why is this the correct answer?
Adaptability is the ability to respond constructively when markets, technology, customer preferences, or business conditions change. An adaptable entrepreneur studies the new situation, evaluates alternatives, and modifies the plan or method where necessary. Therefore option A is correct. Fear, repeated mistakes, and ignoring customers show rigidity rather than adaptability.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
