Question

3. Sarika is running a organic store under the brand name, "Earth in a popular market in
Dehradun. She acknowledges that risks in her business cannot be predicted with utmost
accuracy as business environment is dynamic in nature. Therefore, it is not possible
to predict future events with accuracy like, change in consumer preferences, increase
in competition, natural calamities etc. Also, she feels that the risks in business can be
minimised, but cannot be eliminated all together
. As her business is operated at a small
scale she feels her quantum of risk is relatively low. At the same time she truely believes
in the saying that “no risk, no gain' is applicable to all the business organisations.
Identify and explain the various characteristics of business risk being described in the
above paragraph​

Answer 1

Answer:

3. Sarika is running a organic store under the brand name, "Earth in a popular market in

Dehradun. She acknowledges that risks in her business cannot be predicted with utmost

accuracy as business environment is dynamic in nature. Therefore, it is not possible

to predict future events with accuracy like, change in consumer preferences, increase

in competition, natural calamities etc. Also, she feels that the risks in business can be

minimised, but cannot be eliminated all together

. As her business is operated at a small

scale she feels her quantum of risk is relatively low. At the same time she truely believes

in the saying that “no risk, no gain' is applicable to all the business organisations.

Identify and explain the various characteristics of business risk being described in the

above paragraph