INNOVATION AND CREATIVITY
INNOVATION IN ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The entrepreneur should always be alert to customers’ complaints and frustrations that can form the basis of developing a new product or service.
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Explanation:
Detailed explanation-1: -There are four main customer needs that an entrepreneur or small business must consider. These are price, quality, choice and convenience.
Detailed explanation-2: -The business idea creates a reason to invest and it also creates sales and profit. With sales and profits come the scope to invest in more products and services, enabling the business to grow. It is the pure essence of capitalism. All that said, if you have a bad idea, you are more likely to face competition.
Detailed explanation-3: -An innovator is a person who can create new ideas, methods, or products.
There is 1 question to complete.