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Which quality helps an entrepreneur make well-considered decisions even in uncertain situations?

Answer and explanation

Correct answer: Willingness to take calculated risks

Calculated risk-taking means examining an opportunity, estimating possible benefits and losses, considering available evidence, and then accepting a reasonable level of uncertainty. It is different from reckless gambling. Depending entirely on instructions, avoiding challenges, or continually delaying decisions prevents an entrepreneur from responding to opportunities effectively.

Related tags

EntrepreneurshipCalculated RiskDecision MakingBusiness RiskBusinessTrade And CommerceBusiness Trade And CommerceBusiness StudiesClass 11 Mcq

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