Why is decision-making ability important for an entrepreneur?
Answer and explanation
Correct answer: To make the right choice at the right time
Business decisions involve choices about products, prices, resources, employees, and customers. Decision-making ability helps an entrepreneur compare alternatives, consider available information and risk, and act at an appropriate time. Thus option A is correct. Delaying every decision or ignoring customers prevents the business from responding effectively.
Frequently asked questions
What is the correct answer to this question?
To make the right choice at the right time
Why is this the correct answer?
Business decisions involve choices about products, prices, resources, employees, and customers. Decision-making ability helps an entrepreneur compare alternatives, consider available information and risk, and act at an appropriate time. Thus option A is correct. Delaying every decision or ignoring customers prevents the business from responding effectively.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
