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If an entrepreneur focuses only on current profit and ignores changing technology, what is the main risk?

Answer and explanation

Correct answer: The business may become irrelevant in the future

Technology can change how products are made, promoted, delivered, and used. If an entrepreneur ignores such changes, customers may prefer newer solutions and competitors may offer them more effectively. The business can therefore lose relevance and market share. The other statements are unsupported: customers do not always stay, costs will not certainly fall, and competitors may actively adopt new technology.

Related tags

TechnologyInnovationBusiness-RiskIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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