KK1+2:Business change + responses Flashcards

1
Q

Business change 

A

is the
alteration of behaviours,
policies, and practices
of a business.

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2
Q

proactive approach

A

 is
when a business changes
to avoid future problems
or take advantage of an
opportunity to gain a
competitive advantage.

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3
Q

reactive approach 

A

is when a business
undertakes change in
response to a situation
or crisis.

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4
Q

gap in the market 

A

is when there is a need
that is currently unmet
in an industry and poses
a profitable opportunity
for businesses.

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