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In which situation is an entrepreneur's foresight shown?

Answer and explanation

Correct answer: Anticipating future demand and preparing the required skills and products

Foresight means anticipating future market needs, changing customer preferences, and possible opportunities, then preparing in advance. Therefore, preparing skills and products according to expected future demand shows an entrepreneur’s foresight. Focusing only on present sales is not foresight because it does not involve planning for future market changes. Exam tip: Link ‘anticipation of future needs and advance preparation’ with foresight.

Related tags

EntrepreneurshipForesightFuture DemandBusiness PlanningMarket TrendsHome ScienceEntrepreneurship: Definition And CharacteristicsEntrepreneurship Definition And Characteristics

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