Question

Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?

• A. New business model
• B. Anatomization
• C. None of the given options
• D. Creative destruction

Answer 1

The correct option is D Creative destruction

Creative Destruction is the process referred to in by economist Joseph Schumpeter to the process of entrepreneurs developing new products that over time make current products obsolete.

New and better ways of doing business has taken over the old and established ways of doing business and hence has proved them obsolete