ENTREPRENEURSHIP

Detailed explanation-1: -Calculated risk-taking means understanding every little detail you can about the risk. This will help you discover any red flags and potential issues beforehand, and you will be ready with the answers or at least have a fair understanding of the possible setbacks.

Detailed explanation-2: -“Calculated risk-taking is operationally defined as the ability to deal with incomplete information and act on a risky option, that requires skill, to actualize challenging but realistic goals.”

Detailed explanation-3: -Calculated risk in business is defined as, “…a carefully considered decision that exposes a person to a degree of personal and financial risk that is counterbalanced by a reasonable possibility of benefit.”

Detailed explanation-4: -Characteristics used to define a risk-taker include the ability to make decisions quickly and easily, understanding the value of creativity and innovation, being unafraid or courageous, tolerating loss, having heightened expectations, and being comfortable in the face of uncertainty.

Detailed explanation-5: -Moderately aggressive risk taker – a high risk taker Here, an entrepreneur is more calculative while taking risk. Although, he is not scared of stretching his limits, yet he analyzes the situation and then takes the leap.