ENTREPRENEURSHIP

Detailed explanation-1: -An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship.

Detailed explanation-2: -The risk management process methodically identifying the risks surrounding your business activities. assessing the likelihood of an event occurring. understanding how to respond to these events. putting systems in place to deal with the consequences.

Detailed explanation-3: -There are five kinds of risk that entrepreneurs take as they begin starting their business. Those risks are: founder risk, product risk, market risk, competition risk, and sales execution risk. Founder risk considers who the founders of the company are, if they get along, and how they will work for the company.

Detailed explanation-4: -Risk-taking is an important part of entrepreneurship and business. Risk-taking is defined as trying out something new when the results are largely unknown. A risk-taker is someone who will risk everything in the hope of achieving their goals.

Detailed explanation-5: -Market risk. Factors affecting a market sector or the economy can impact new businesses, and aspiring entrepreneurs need to take these risks into account. Financial risk. Competitive risk. Technology risk. Career fulfillment. Work-life balance. Leadership experience. Company control. 02-Sept-2022