What is a key characteristic of entrepreneurial management?
Practice Questions
1 question
Q1
What is a key characteristic of entrepreneurial management?
Risk aversion
Focus on stability
Innovation and adaptability
Strict adherence to rules
A key characteristic of entrepreneurial management is innovation and adaptability, allowing businesses to respond to changing market conditions.
Questions & Step-by-step Solutions
1 item
Q
Q: What is a key characteristic of entrepreneurial management?
Solution: A key characteristic of entrepreneurial management is innovation and adaptability, allowing businesses to respond to changing market conditions.
Steps: 4
Step 1: Understand what entrepreneurial management means. It involves running a business with a focus on innovation and growth.
Step 2: Identify the importance of innovation. This means coming up with new ideas, products, or services that can attract customers.
Step 3: Recognize adaptability. This means being able to change and adjust the business strategies based on what is happening in the market.
Step 4: Combine innovation and adaptability. Together, these traits help a business stay competitive and successful in a changing environment.
