Which type of thinking helps an entrepreneur survive best in changing conditions?
Answer and explanation
Correct answer: Flexible and creative thinking
Markets, technology, customer preferences, and competition can change over time. An entrepreneur with flexible and creative thinking can notice these changes, examine the available facts, and modify products, processes, or business plans accordingly. This ability improves the chances of survival and growth. Rigid thinking and dependence only on old methods reduce adaptability, while decisions without facts increase risk; therefore, option A is correct.
Frequently asked questions
What is the correct answer to this question?
Flexible and creative thinking
Why is this the correct answer?
Markets, technology, customer preferences, and competition can change over time. An entrepreneur with flexible and creative thinking can notice these changes, examine the available facts, and modify products, processes, or business plans accordingly. This ability improves the chances of survival and growth. Rigid thinking and dependence only on old methods reduce adaptability, while decisions without facts increase risk; therefore, option A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
