ECONOMICS (CBSE/UGC NET)

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ECONOMICS

ENTREPRENEURS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
-Entrepreneurs are reactive rather than passive. They address issues, problems, and challenges before they come rather than when they already happened. They ensure that proper research is done, the risk factors are assessed, and plans are executed on a timely and most efficient way.
A
Proactive
B
Risk takers
C
Agents of change
D
Sociable
Explanation: 

Detailed explanation-1: -Reactive risk management tries to reduce the damage of potential threats and speed an organization’s recovery from them, but assumes that those threats will happen eventually. Proactive risk management identifies threats and aims to prevent those events from ever happening in the first place.

Detailed explanation-2: -To achieve effective enterprise risk management, organizations must focus on being proactive, rather than merely reactive, and use risk management to both drive competitive advantage and sustain future profitability and growth.

Detailed explanation-3: -Proactive risk managers analyze past, current, and future data to identify risks before they occur, determine root causes, and develop plans for both unforeseen and known risks.

Detailed explanation-4: -Identify the risk. Assess the risk. Treat the risk. Monitor and Report on the risk.

There is 1 question to complete.
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