KK1+2:Business change + responses

Question 1

Business change 

Answer 1

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

Question 2

proactive approach

Answer 2

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

Question 3

reactive approach 

Answer 3

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

Question 4

gap in the market 

Answer 4

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