business objectives and strategy - risk and uncertainty Flashcards
1
Q
what is a calculated risk?
A
a risk that has been given careful and thoughtful consideration and for which the potential costs and benefits have been weighed and considered –> taken daily by entrepreneur
2
Q
what are the non-financial rewards for an entrepreneur?
A
- sense of satisfaction
- building something
- control
- first sale feeling
- new locations
- employing more people
- industry award
- great feedback from customers
- good publicity
3
Q
what are the financial rewards for an entrepreneur?
A
profit is the main goal for most entrepreneurs, and is the main reward for them
