Which of the following exemplifies a "new rule" of business?

Prepare for the NACD Certification Exam with flashcards and multiple choice questions. Each question comes with hints and explanations to aid your understanding. Ensure you are fully ready for your test!

The statement "Move fast, break things, and give away products for free" exemplifies a "new rule" of business, particularly within the context of technology and startup cultures. This approach represents an aggressive strategy aimed at fostering innovation and rapid growth. It emphasizes the importance of speed in execution, accepting that some failures may occur along the way, and views these failures as opportunities for learning and adaptation.

This method encourages organizations to take risks and experiment freely without being overly constrained by traditional business norms. The idea of giving away products for free can also be linked to the freemium model, which has become increasingly prominent in many industries, often serving as a way to build user bases quickly before monetizing in other ways.

The other choices reflect more traditional or cautious approaches to business. A focus on sustainable practices, prioritizing consensus in decision-making, and reducing risk by avoiding rapid innovation align more with risk-averse or conventional business models. While these can also be vital aspects of a successful business strategy, they do not capture the essence of the bold, innovative spirit that characterizes many of the new rules emerging in today’s fast-paced business environment.

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