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What should an entrepreneur do when facing risk and uncertainty?

Answer and explanation

Correct answer: Assess risks and plan carefully

Risk management begins with identifying possible threats, gathering relevant information, estimating likelihood and impact, and preparing ways to reduce or handle them. An entrepreneur can then make a calculated decision and review it as conditions change. Acting without information is careless, avoiding every risk may block opportunity, and misleading customers is unethical and harmful.

Related tags

Risk ManagementEntrepreneurial PlanningBusiness RiskBusinessTrade And CommerceBusiness Trade And CommerceBusiness StudiesClass 11 Mcq

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