Finance
Re-Writen Risks and Entrepreneurship
R
isks and entrepreneurship go hand in hand. No business owner should just believe it and be passive.
Of course risks should be mitigated or at least be reduced.
Let me clarify that risk is not always bad for business and its owner. Entrepreneurs should take calculated
risk. First of all let us discuss what the benefits are of risks in the business:
It refines vision and mission of the company
It makes the organization more proactive in handling any kind of situation
It makes decision makers more aggressive
It helps in devising flexible strategies for the organization
It sends positive energy to the middle and junior level management
It helps organizations in reaching new height of growth
It helps in forming much more loyal and dedicated team for execution
However, it is injustice to say that there are no cons of risks:
Frequent failure of strategies may dishearten the top management
Competitors may acquire the failed organization
Execution team may leave the organization
Sense of fear may develop across the organization
Future contracts may be cancelled
There may be socio-economic pressure from stakeholders including government
www.Venture-Care.com/Magazine
December 2017
9