What key principle do startups need when many decisions are uncertain?
ATo copy the largest rival exactly
BTo be agile and flexible
CTo avoid all change forever
DTo fix every plan for ten years
Answer & Solution
Correct answer: B. To be agile and flexible
Since many startup decisions are made under uncertainty, founders need to stay agile and flexible so the venture can change later.
Keep practising Building Blocks in Economics
Browse all Building Blocks in Economics questions for CBSE Class 9, or explore more Social Science topics.
Related questions
What is one way entrepreneurs can exploit opportunities?What does bootstrapping try to minimise?Which two thinkers defined entrepreneurship in terms of risk-taking?What do venture capital firms take for seed money?What do revenue-based financing lenders receive for growth capital?Which activity describes startup investing?What is an internal startup in a large company?When is a startup usually in its seed round?