ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

CHARACTERISTICS OF AN ENTREPRENEUR

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The ability of the entrepreneur to respond quickly to changes in the market and economy refers to the characteristic of
A
Creativity
B
Flexibility
C
Persistency
D
Goal-oriented
Explanation: 

Detailed explanation-1: -Flexibility: Successful entrepreneurs understand that the world and the environment in which they operate are constantly changing. While they must focus on the end game, they must adapt their strategies and offerings to meet changing market conditions.

Detailed explanation-2: -Flexibility is the ability to move quickly in response to changing market needs.

Detailed explanation-3: -The ability of an organization to adapt is a great competitive advantage. A company that is adaptable is open to new ideas, and doesn’t need to do things only because “that’s how they’ve always been doing.” They’re able to foresee changes and don’t panic when things don’t go according to plan.

Detailed explanation-4: -Vision. Innovation cannot happen without vision, the ability to not only recognize opportunity and connect dots, but also the wherewithal to question why a solution does not exist to a problem. Passion. Adaptability. Resilience.

There is 1 question to complete.