What are sociocultural changes and why are they important?
What will be an ideal response?
Social and cultural changes are part of the "macro" environment that an entrepreneur must investigate. Such changes can lead to dramatic transformations in industries or even in creating entirely new industries. As an example, the increased presence of women in the workforce starting in the 1960s lead to the birth of the daycare industry. As more women entered the workforce, more families became "two-career" couples creating a need for safe and inexpensive childcare.
You might also like to view...
There is at least a 25 percent probability of having a work related disablitity before normal retirement age
Indicate whether the statement is true or false.
Which of the following statements regarding Section II conditions under the homeowners policy is true?
A) Other insurance is handled on a pro rata basis. B) Under no circumstances may the insured bring a lawsuit against the insurer. C) The liability limit is the same regardless of the number of persons injured in a covered occurrence. D) There is no requirement for the insured to submit written notification of a possible claim to the insurer.