Which type of thinking helps an entrepreneur survive in a changing market?
Answer and explanation
Correct answer: Flexible and solution-focused thinking
Markets change because of customer preferences, technology, competition, costs, and regulations. Flexible, solution-focused thinking helps an entrepreneur observe these changes, learn from evidence, and adapt the product, process, or plan. Rigidity, dependence on luck, and blaming customers prevent useful responses and reduce resilience.
Frequently asked questions
What is the correct answer to this question?
Flexible and solution-focused thinking
Why is this the correct answer?
Markets change because of customer preferences, technology, competition, costs, and regulations. Flexible, solution-focused thinking helps an entrepreneur observe these changes, learn from evidence, and adapt the product, process, or plan. Rigidity, dependence on luck, and blaming customers prevent useful responses and reduce resilience.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
