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____________ are the conventional in their approach. They are not ready to change their existing production methods even if they suffer losses.
Fill in the blank with a suitable Type of Entrepreneurs.
- a)Drone Entrepreneurs
- b)Fabian Entrepreneurs
- c)First generation Entrepreneurs
- d)Innovative Entrepreneurs
Correct answer is option 'A'. Can you explain this answer?
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____________ are the conventional in their approach. They are not read...
Explanation:
The correct answer is option 'b) Fabian Entrepreneurs'.
Definition of Fabian Entrepreneurs:
Fabian Entrepreneurs are those who are conservative and traditional in their approach. They are resistant to change and are unwilling to adopt new technologies or methods, even if it means suffering losses. They prefer to stick to their existing production methods and are often reluctant to take risks or embrace innovation.
Characteristics of Fabian Entrepreneurs:
1. Conservative Approach: Fabian Entrepreneurs prefer to follow established practices and are resistant to change. They are not open to new ideas or methods.
2. Reluctance to Adopt Innovation: They are unwilling to adopt new technologies or methods, even if it means facing losses. They tend to stick to their traditional production methods.
3. Risk-Averse: Fabian Entrepreneurs are risk-averse and avoid taking risks. They prefer stability and are not willing to take chances on new ventures or ideas.
4. Lack of Flexibility: They are rigid in their approach and are not open to adapting to changing market conditions or customer demands.
5. Limited Growth Potential: Due to their resistance to change and innovation, Fabian Entrepreneurs may find it difficult to grow their businesses and may face challenges in adapting to a dynamic business environment.
Why option 'A' is incorrect:
Drone Entrepreneurs refer to individuals who are involved in the drone industry. They are focused on utilizing drones for various purposes such as photography, surveillance, delivery, etc. They are known for their innovative and disruptive approach, constantly seeking new applications and opportunities for drones. Therefore, they are not the conventional or conservative type of entrepreneurs mentioned in the question.
Why option 'c' and 'd' are incorrect:
First generation Entrepreneurs and Innovative Entrepreneurs are not specifically associated with being conventional or resistant to change. First generation Entrepreneurs refer to individuals who are the first in their family to start a business. They can have different approaches and may or may not be conservative in their methods. Innovative Entrepreneurs, as the name suggests, are known for their ability to innovate and introduce new ideas, products, or services. They are typically open to change and embrace new technologies or methods. Therefore, both options 'c' and 'd' are not suitable for the given context of being conventional in their approach.
The correct answer is option 'b) Fabian Entrepreneurs'.
Definition of Fabian Entrepreneurs:
Fabian Entrepreneurs are those who are conservative and traditional in their approach. They are resistant to change and are unwilling to adopt new technologies or methods, even if it means suffering losses. They prefer to stick to their existing production methods and are often reluctant to take risks or embrace innovation.
Characteristics of Fabian Entrepreneurs:
1. Conservative Approach: Fabian Entrepreneurs prefer to follow established practices and are resistant to change. They are not open to new ideas or methods.
2. Reluctance to Adopt Innovation: They are unwilling to adopt new technologies or methods, even if it means facing losses. They tend to stick to their traditional production methods.
3. Risk-Averse: Fabian Entrepreneurs are risk-averse and avoid taking risks. They prefer stability and are not willing to take chances on new ventures or ideas.
4. Lack of Flexibility: They are rigid in their approach and are not open to adapting to changing market conditions or customer demands.
5. Limited Growth Potential: Due to their resistance to change and innovation, Fabian Entrepreneurs may find it difficult to grow their businesses and may face challenges in adapting to a dynamic business environment.
Why option 'A' is incorrect:
Drone Entrepreneurs refer to individuals who are involved in the drone industry. They are focused on utilizing drones for various purposes such as photography, surveillance, delivery, etc. They are known for their innovative and disruptive approach, constantly seeking new applications and opportunities for drones. Therefore, they are not the conventional or conservative type of entrepreneurs mentioned in the question.
Why option 'c' and 'd' are incorrect:
First generation Entrepreneurs and Innovative Entrepreneurs are not specifically associated with being conventional or resistant to change. First generation Entrepreneurs refer to individuals who are the first in their family to start a business. They can have different approaches and may or may not be conservative in their methods. Innovative Entrepreneurs, as the name suggests, are known for their ability to innovate and introduce new ideas, products, or services. They are typically open to change and embrace new technologies or methods. Therefore, both options 'c' and 'd' are not suitable for the given context of being conventional in their approach.
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____________ are the conventional in their approach. They are not ready to change their existing production methods even if they suffer losses.Fill in the blank with a suitable Type of Entrepreneurs.a)Drone Entrepreneursb)Fabian Entrepreneursc)First generation Entrepreneursd)Innovative EntrepreneursCorrect answer is option 'A'. Can you explain this answer?
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