INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a true statement regarding the relationship between risk and business objectives:
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Risks help businesses determine objectives
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Objectives should never be modified because of risk
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Effective business objectives are not risky
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The more objectives a business has, the less risk it faces
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Explanation:
Detailed explanation-1: -Importance of Risk Management Risk management is an important process because it empowers a business with the necessary tools so that it can adequately identify and deal with potential risks. Once a risk has been identified, it is then easy to mitigate it.
Detailed explanation-2: -Business risk usually occurs in one of four ways: strategic risk, compliance risk, operational risk, and reputational risk.
There is 1 question to complete.