If an entrepreneur improves service quality after observing competition, which approach is shown?
Answer and explanation
Correct answer: Strategic improvement
Improving service after understanding competition is business strategy. Exam tip: link competition with market study.
Frequently asked questions
What is the correct answer to this question?
Strategic improvement
Why is this the correct answer?
Improving service after understanding competition is business strategy. Exam tip: link competition with market study.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Entrepreneurship: definition and characteristics.