GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Joyce just purchased fire and property insurance for her florist shop. This is an example of which entrepreneurial function?
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Operations Management
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Risk Management
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Information Management
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Human Resources Management
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Explanation:
Detailed explanation-1: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.
Detailed explanation-2: -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.
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