What is flexibility in entrepreneurship?
Answer and explanation
Correct answer: Making suitable changes in plans and actions according to changing situations
Flexibility is the ability to review assumptions and make suitable changes when customer preferences, technology, costs, competition, or other conditions change. It does not mean changing direction randomly; decisions should still be based on evidence and goals. Refusing feedback or every new opportunity shows rigidity. Therefore, option A correctly explains entrepreneurial flexibility.
Frequently asked questions
What is the correct answer to this question?
Making suitable changes in plans and actions according to changing situations
Why is this the correct answer?
Flexibility is the ability to review assumptions and make suitable changes when customer preferences, technology, costs, competition, or other conditions change. It does not mean changing direction randomly; decisions should still be based on evidence and goals. Refusing feedback or every new opportunity shows rigidity. Therefore, option A correctly explains entrepreneurial flexibility.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
