Risk And Reward Flashcards
1
Q
What is risk and reward?
A
Risk - taking a chance
Reward - benefits of an activity
2
Q
Risks of taking a decision?
A
- Cost more than thought
- reject good decisions accept bad ones based on imperfect info
- decision too late
- not as successful as thought
- more successful than thought
- may misread situation
- creates a marketing strategy that dissuades rather than persuades
- all possible outcomes are unknown
- lack off faith/too much
3
Q
What are the rewards for enterprise?
A
Profit Capital gains Self esteem Personal development Sense of control satisfaction from building something
