Explain The Meaning of Risk Taking


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Risk Taking

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Explain the concept of `Risk Taking’ with respect to entrepreneurship.

  • As future is uncertain the entrepreneur has to take risk.
  • If the venture succeeds, the entrepreneur profits, if it does not, losses occur.
  • Thus risk forms an important entrepreneurial function.
  • Risk may be insurable or non-insurable.
  • The non-insurable risks are called UNCERTAINTIES.
  • The entrepreneur makes use of his initiative skill and good judgment to reduce the uncertainties of business.

 

 

 

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