Calculated Risks&Being An Entrepreneur

Calculated Risks&Being An Entrepreneur

Calculated risk=  it means a chance of failure, the probability of which is estimated before some action is undertaken.

WHO IS AN ENTREPRENEUR? An Entrepreneur is someone who: wishes to take a risk in business. brings resources together in order to make a profit. recognizes an opportunity and is willing to use time, managerial and other skills and money to add to that opportunity and at the same time handle the uncertainties/risks of running a business. WHAT IS AN ENTERPRISE? An enterprise is a business. It is an activity whereby individuals organize capital, land and labour in order to create a good or provide a service and generate profits. DOES ENTREPRENEURSHIP INVOLVE RISKS? Yes. Risk-taking is an important part of entrepreneurship. Successful entrepreneurs are those who take calculated risks. DO ALL ENTREPRENEURS HAVE THE SAME RISK-TAKING ORIENTATION? No. The risk-taking orientation of an entrepreneur would depend on his or her background, personality, socialization and experiences. WHAT ARE SOME OF THE COMMON CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS? 1. Self-confident all-around performers 2. Resilient 3. Innovative 4. Results-oriented 5. Professional risk-takers 6. Totally committed 7. Ability to get along with people 8. Possess high Business acumen 9. Patient 10. Self-motivated 11. Information-seeking 12. Persuasive 13. Demand for quality

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