Which is the most balanced step for an entrepreneur to increase profit?
Answer and explanation
Correct answer: Improve cost and sales strategy while maintaining quality
Profit is affected by both revenue and cost, so a sound approach can include reducing waste, improving productivity, choosing suitable suppliers, strengthening sales, and communicating value while preserving product quality. Cutting quality may damage trust and repeat sales. Ending customer service or records removes important sources of revenue and control. Sustainable profit requires balanced, evidence-based improvement rather than a quick harmful shortcut.
Frequently asked questions
What is the correct answer to this question?
Improve cost and sales strategy while maintaining quality
Why is this the correct answer?
Profit is affected by both revenue and cost, so a sound approach can include reducing waste, improving productivity, choosing suitable suppliers, strengthening sales, and communicating value while preserving product quality. Cutting quality may damage trust and repeat sales. Ending customer service or records removes important sources of revenue and control. Sustainable profit requires balanced, evidence-based improvement rather than a quick harmful shortcut.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
