Which of the following is a good tactic for entrepreneurs to implement in order to keep a new company growing?

• A. Focusing solely on short-term profits rather than long-term strategy
• B. Ignoring feedback from customers and employees
• C. Continuously innovating products and services to meet changing consumer preferences
• D. Avoiding all forms of advertising to reduce costs

Answer: (C)

Verified step by step guidance

1. Understand the importance of sustainable growth for a new company, which typically requires adapting to market changes and consumer needs over time.
2. Recognize that focusing solely on short-term profits can undermine long-term success because it may neglect necessary investments in innovation and customer relationships.
3. Acknowledge that ignoring feedback from customers and employees can lead to missed opportunities for improvement and decreased satisfaction, harming growth.
4. Identify that continuously innovating products and services to meet changing consumer preferences helps a company stay relevant and competitive, fostering ongoing growth.
5. Note that avoiding all forms of advertising to reduce costs might limit market reach and brand awareness, which are crucial for attracting and retaining customers.