KK1+2:Business change + responses Flashcards
1
Q
Business change
A
is the
alteration of behaviours,
policies, and practices
of a business.
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.
3
Q
reactive approach
A
is when a business
undertakes change in
response to a situation
or crisis.
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.