INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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risk appetite
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internal factor
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external factor
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critical thinking
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Detailed explanation-1: -The term business risks refers to the possibility of a commercial business making inadequate profits (or even losses) due to uncertainties-for example: changes in tastes, changing preferences of consumers, strikes, increased competition, changes in government policy, obsolescence etc.
Detailed explanation-2: -Risk appetite helps the management of a company to make risk-informed decisions. This is important because it is a way to assess the impact of management decisions and to ensure senior management is engaged in driving a risk-informed agenda.
Detailed explanation-3: -Competitive environment. New business development. Potential impact of currency fluctuation on business performance. Risks associated with supply chains. Risks associated with overseas business development. Risks associated with legal restraints and litigation. More items