Question

Entrepreneurship involves __________ as its activities are subject to uncertainties.

Answer 1

Answer:

A major problem with uncertainty is that you simply cannot know what to expect. One way of dealing with this is to have others share this burden. For example, by letting customers prepay, you can avoid cashflow problems and get a better idea of the demand for your product.

Explanation:

Answer 2

Answer:

Entrepreneurship involves risk-taking as its activities are subject to uncertainties.

Explanation:

• Entrepreneurship is defined as the "willingness to accept risk" that results from the invention and implementation of innovative ideas.
• New ideas are always uncertain, and their outcomes may not be immediate and beneficial.
• To see his efforts yield fruit, an entrepreneur must be patient.
• An entrepreneur must accept risk during the interim period (the time between the creation and implementation of an idea and its consequences).
• Entrepreneurship will never flourish if the entrepreneur is unwilling to take risks.
• Because possibilities can only be found after they have been utilized, the entrepreneurial process is unpredictable.
• Entrepreneurs have a favorable leaning toward discovering new chances and identifying unmet market demands, as well as a risk-taking inclination that makes them more likely to capitalize on business prospects.

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