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An entrepreneur begins developing an alternative product after observing early signs of falling demand for a profitable product. Which quality does this show?

Answer and explanation

Correct answer: Strategic foresight

The entrepreneur does not wait until the profitable product fails completely. Early demand signals are used to prepare another option, reducing future dependence on one product and allowing time for development. This forward-looking preparation is strategic foresight. It may require courage, but courage alone does not explain the use of market signals and advance planning.

Related tags

Strategic-ForesightDemand-ChangeProduct-DevelopmentQualities And Functions Of An EntrepreneurEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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