What is one thing an entrepreneur must do with regard to competition?
A) Simply forget the competitors and do his/her own thing
B) Assume there is no competition
C) Anticipate and plan for competitive response
D) None of the above

Question

Quizplus · Accepted Answer

Anticipating and planning for competitive response is essential for an entrepreneur in order to stay ahead of their competitors and maintain their market position. Simply forgetting the competition or assuming there is no competition can lead to a lack of innovation and stagnant growth. It is important to be aware of the strategies, strengths, and weaknesses of competitors in order to create a successful business plan.

What Is One Thing an Entrepreneur Must Do with Regard