How can entrepreneurship make market more competitive?
GeneralClass 11CBSEAnswered 23 Jun 2026
Answer
The markets in which entrepreneurs operate has a little tolerance for miscalculations about business opportunities, lack of commitment and incompetence. So entrepreneurs become very sensitive towards discipline of the market. They try to remain competitive through their innovative ideas and strategies. They try to keep cost under control through optimum utilisation of resources. Not only in the domestic market but also in international market they create competitive environment. They facilitate competitiveness through innovative collaboration, merger & fusion and franchising.
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