ENTREPRENEURSHIP

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INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Every new venture will be faced with some potential hazards, given its particular industry and competitive environment. It is important that the entrepreneur make this in the following manner:includes potential risks, be a discussion of what might happen if these risks become reality and discuss the strategy that will be employed to prevent minimize or respond to the risks should they occur
A
Hazards and Risk Planning
B
Assessing Risks
C
Assessment of Risks
D
Risks and Assessment
Explanation: 

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: -Top environmental factors that will affect your business include storms, loss of resources, inflation, and scarcity of food and water. These economic concerns are likely to be secondary to the risks to human health.

Detailed explanation-3: -Selecting a service or product. Developing a sales strategy. Establishing starting funds. Maintaining a budget. Sustaining revenue. Staffing the organization. Managing employees. Expanding the business. More items •30-Nov-2022

Detailed explanation-4: -Political Factors. Political factors play a huge role in the development of entrepreneurship in a given geographical area. Legal Factors. Entrepreneurs are dependent upon law for a wide variety of factors. Taxation. Availability of Capital. Labor Markets. Raw Materials. Infrastructure.

There is 1 question to complete.
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