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Why is risk-taking important for an entrepreneur?

Answer and explanation

Correct answer: Because planned risk can create new opportunities

Business decisions involve uncertainty, so an entrepreneur may need to commit resources before success is guaranteed. A calculated risk is based on information, planning, and assessment of possible outcomes; it can open a new market or opportunity but never guarantees profit. Careless risk, reduced responsibility, or avoiding effort is not entrepreneurship.

Related tags

Risk-TakingCalculated-RiskEntrepreneurBusiness RiskBusinessTrade And CommerceBusiness Trade And CommerceBusiness StudiesClass 11 Mcq

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