What is the process called when a entrepreneur is always scanning or looking for technological, poliitcal, social or demographic changes that will affect his/her business or to provide information to produce/offer new goods or services?

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Business

Salvador Bush

15 April, 07:45

What is the process called when a entrepreneur is always scanning or looking for technological, poliitcal, social or demographic changes that will affect his/her business or to provide information to produce/offer new goods or services?

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Craig Thompson · Answer 1

Answer: Market research,

When a entrepeneur is looking for how to excel with respect to its competitors as seeing the continuous changes is called market research to improve the business strategy, so it is very important to define the objectives that you want to draw in the company such as increase in revenue, increase in participation or improvement in competitive advantages.