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What is the correct meaning of value creation in entrepreneurship?

Answer and explanation

Correct answer: Providing a useful solution to a customer problem

Value creation occurs when an entrepreneur provides a benefit that customers consider useful, such as saving time, reducing cost, improving convenience or solving a problem. A high price alone does not create value, and reducing quantity or copying a competitor does not guarantee customer benefit. Therefore the useful solution is correct.

Related tags

Value-CreationCustomer-NeedsIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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