ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Willingness to take risk
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Businesslike Attitude
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Ability to make decisions
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Self-Discipline
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Detailed explanation-1: -Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.
Detailed explanation-2: -Risk-averse investors maintain a balanced portfolio; they are satisfied with average returns. On the other hand, risk takers are driven by the prospect of earning maximum returns and high profits. There is an overlap between risk aversion and a long-term approach toward investment.
Detailed explanation-3: -Get insurance. One of the best ways to reduce business risk is by getting insurance. Diversify your products or services. Limit your business loan. Know the law. Document everything important. Hire significant employees. Build your reputation. Protect your data. 29-Apr-2020
Detailed explanation-4: -The quality of your relationships. Some entrepreneurs end up sacrificing entire relationships, whether it’s with their significant other, friends or family. Your health. This goes for physical, mental, emotional and spiritual. Your money and standards of living. Your reputation.