Assertion: In today’s competitive world, entrepreneurs wage wars everyday.
Reasoning: There is a tremendous pressure on entrepreneurs to continually develop new products, explore new markets, update technology and devise innovative ways of marketing.

Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A.

The correct answer is option 1- Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A.

Assertion: In today’s competitive world, entrepreneurs wage wars everyday. Correct. Entrepreneurs constantly face competition, challenges, and pressure in the market, much like fighting daily battles.
Reasoning: There is a tremendous pressure on entrepreneurs to continually develop new products, explore new markets, update technology and devise innovative ways of marketing.Correct. This statement accurately describes the pressures faced by entrepreneurs in today's business landscape. To remain competitive and relevant, businesses must constantly innovate and adapt.

Relationship between Assertion and Reasoning:

The reasoning (R) directly explains why the assertion (A) is figuratively true. The daily pressures described in the reasoning are the very elements that make the entrepreneurial world feel like a constant "war" for survival and success. The need for continuous innovation and adaptation is the battle entrepreneurs fight every day. Therefore, the reasoning provides a strong and direct explanation for the assertion.