INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Short-term cost orientation
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Long-term cost orientation
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Internal orientation
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Compartmentalisation
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Detailed explanation-1: -1. A philosophy of management consisting of putting first internal management and employee satisfaction in order to get the business goals.
Detailed explanation-2: -A market-oriented organization uses a customer-centered approach, which means that the most pressing concerns, immediate needs, and personal preferences of the consumer base must be researched. The strategy must be focused on values, culture, and other behavioral traits of the consumer base.
Detailed explanation-3: -Market orientation is a strategic focus on identifying consumer needs and desires in order to define new products to be developed. Established businesses like Amazon and Coca-Cola use market orientation principles to improve or expand their products or services.
Detailed explanation-4: -Ensuring customers know about a product or service and how to gain access to it is critical for a company’s success. Examples of companies that can be thought of as having a market orientation include Coca-Cola, Kleenex, Apple, and Amazon.