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Which of the following situations would offer the greatest opportunities for entrepreneurs? a. Substitute products that...

Which of the following situations would offer the greatest opportunities for entrepreneurs?

a.

Substitute products that redefine the game
b.

Products that increase the bargaining power of buyers
c.

A product that is easily imitated
d.

High uncertainty avoidance
business   Operations-Management   
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Answer #1

Substitute products or services often provide entrepreneurs great opportunities. In case, an entrepreneur can bring a substitute product or service that can redefine the game, he can efficiently chip away some of the competitive advantages held by major players. A substitute product is defined as the one that provides the same value to customers as another product in the market does. Therefore, the correct option is (a). All other options are wrong as they do not provide an entrepreneur favorable condition to en-cash the market instead poses a threat to the business.

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