Answered step by step
Verified Expert Solution
Question
1 Approved Answer
While risk is crucial to entrepreneurship, the reality is that it's not just taking huge leaps without considering the options that makes businesses work.
"While risk is crucial to entrepreneurship, the reality is that it's not just taking huge leaps without considering the options that makes businesses work. Calculated risks are what make businesses succeed. The big difference between just taking a risk, and taking a calculated risk is the consideration that goes into it. Risk-takers don't think about the escape route, the factors that make it risky and what the situation will be if they fail Entrepreneurs take calculated risks; they're willing to go big or go home but they understand the consequences if they fail and have taken into account the likelihood that they'll succeed With reference to the above statement, critically examine entrepreneurial risks in an organisation
Step by Step Solution
There are 3 Steps involved in it
Step: 1
The statement highlights the importance of taking calculated risks in entrepreneurship rather than simply diving into uncertainty without careful consideration Lets critically examine entrepreneurial ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started