It is typically easier for new businesses to change their business model because new businesses ______.
A)have the capital to fund such changes
B)have not yet formulated a business plan
C)have no competitors
D)tend to be smaller and more agile

Question

Quizplus · Accepted Answer

New businesses tend to be smaller and more agile, which means they can pivot and change their business model quickly without facing the bureaucracy or red tape that larger and more established companies might encounter. This also means they may have fewer sunk costs and less invested in their initial business plan, making it easier to adjust their strategy if needed.

It Is Typically Easier for New Businesses to Change Their