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The video emphasizes the necessity of understanding business fundamentals to achieve success.

Why is it crucial to have a business strategy?

• To increase product prices

• To reduce employee workload

• To avoid paying taxes

• To ensure consistent growth

Which of the following is NOT a benefit of having a business strategy?

• Enhanced competitive advantage

• Improved decision-making

• Increased uncertainty

• Better resource allocation

How does a business strategy impact customer relations?

• It confuses customers

• It makes customers less loyal

• It strengthens customer trust

• It has no impact on customers

What might happen if a business lacks a strategy?

• It will automatically succeed

• It will face financial challenges

• It will gain more customers

• It will have more free time

What is a potential risk of operating without a business plan?

• Higher employee satisfaction

• Loss of business opportunities

• Increased market share

• Better customer loyalty