Question
What is the term used to describe the process of
discontinuing a product, service, or business unit due to low profitability or market demand?Solution
Retrenchment refers to the process of discontinuing a product, service, or business unit due to low profitability, market demand, or strategic reasons. It involves scaling back operations or divesting assets to focus on core business activities and improve overall performance.
Which of the following is NOT a characteristic of entrepreneurial mindset?
Why is the notion of ‘vision’ important in entrepreneurship?
Which of the following is a psychological factor affecting entrepreneurial growth:
Which one of the following is the main problem for the entrepreneur in the beginning stages of creating a new venture?
Which of the following is not an aggressiveness strategy?
What is the term used to describe the process of transforming an idea or invention into a marketable product or service?
An entrepreneur considering if what they are doing makes sense is an example of:
What does the term "lean startup" refer to in entrepreneurship?
A bonus or financial aid which is given by a government to an industry to help it compete with others in markets is known as _____
What is the significance of intellectual property rights (IPR) for entrepreneurs?
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