1.1.2 Risk and Reward Flashcards
1
Q
Business Success
A
- Profit
- Personal Assets
- Self-satisfaction
2
Q
Non-financial rewards
A
- Early Retirement
- Self-satisfaction
- Be your own boss
- Freedom with working hours
- Independance
- Reputation
- Environmental goals
3
Q
Financial rewards
A
Profit
4
Q
Risk taking disadvantages
A
- financial loss
- Business failure
- Lack of Security
5
Q
Risk taking advantages
A
- High profit
- Self-satisfaction
- Independance
6
Q
Business failure
A
The collapse of a business, probably leading to its closure
7
Q
Independence
A
The need by many business
owners to make their own decisions and be their
own boss
8
Q
Lack of financial security
A
Uncertainty for the
business owner about day-to-day family income
and assets
9
Q
Risk and reward
A
The balance between the worst
that can happen and the best that can happen
