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Question : Case Study 5: Benefits of Entrepreneurship Development

ABC Textiles is a textile manufacturing company that has been operating for over two decades. Due to technological advancements, the company faced stiff competition from newer, more efficient manufacturers. The management decided to invest in training their employees in the latest technologies and innovative techniques, resulting in increased productivity and better product quality.

Question:

How did entrepreneurship development contribute to ABC Textiles' success?

Option 1: By reducing the number of employees
  

Option 2: By ignoring technological advancements
   

Option 3: By investing in employee training and innovation

   

Option 4: By shifting production to another country


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: By investing in employee training and innovation


Solution : The correct answer is (c) By investing in employee training and innovation

ABC Textiles invested in training its employees in the latest technologies and innovative techniques, demonstrating a commitment to adapting and staying competitive in the market. This investment in employee training and innovation aligns with the principles of entrepreneurship development, fostering adaptability, and enhancing the company's overall success.

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