ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Why is it important for businesses to have efficient production?
A
To be competitive
B
To remaine flexible
C
To pay employees
D
To buy resources
Explanation: 

Detailed explanation-1: -A competitive advantage enables a company to perform better than its competitors. It refers to factors allowing a company to produce services or goods better or for less expense than the competition, which may generate more sales or higher profit margins.

Detailed explanation-2: -Greater productivity means better growth potential Saving money and resources on producing your output can mean a greater budget to market to new customers, trial new products or offerings, or upgrade your assets. This allows you to grow your business while still producing your core offering uninterrupted.

There is 1 question to complete.