The Challenges Entrepreneurs Face in Taking Risks Business Essay
Taking a risk to achieve a goal requires courage to face the fear of uncertainty. Regardless of the outcome, either way, we grow through the process and become more resilient and confident. Better yet, build different types of risks in entrepreneurship. According to the Harvard Business Review, business risks are divided into three categories: avoidable risks, strategic risks and external risks. Preventable risks arise from within an organization, regardless of whether a team of one is fully manageable, and should be avoided at all costs. The rise of e-commerce has taken the world by storm and revolutionized the way business is done. Many studies have been done on e-commerce in many different countries. At first glance, entrepreneurship may conjure up an image of something related to self-interest, making money, growth, competition and disruption, which reflects something unsustainable. However, such a focus would neglect the agency and intention of entrepreneurial individuals. who take on risks and create uncertainties. However, the real reason why entrepreneurs decide to take risks can be boiled down to the following five reasons. 1. You'll never know unless you try. No one can really be sure whether the risks will pay off, no matter how calculated. But this shouldn't stop you from taking risks. Entrepreneurs must learn to look on the positive side, even when a risk does not work out in their favor. By staying curious about their choices, they can look deeper and see what could have been done better or differently the next time they take a risk. Although taking risks can be nerve-wracking, entrepreneurs must use risks to develop. Entrepreneurs play a key role in any economy. These are the people who have the skills and necessary initiatives to bring new ideas to market or provide a service and make the right decisions. Eight readers share their stories of taking risks. Eight readers share their high-risk journeys, including business start-ups, an impromptu COO resignation, and a single mother pursuing a bachelor's degree. Ted Young: I started by painting my neighbor's shed so I could get groceries, and then my other neighbor's house. Text sample of this essay: This page of the essay, Download the full version above. This report focuses on the role of the entrepreneur and the challenges he faces. In addition, this report also discusses the success of Henry Ford. He is a famous American entrepreneur. Henry Ford was born in Michigan, USA on, 1. Understand that risk is opportunity. From the earliest stages of a new business idea, risk and opportunity are inextricably linked. Entrepreneurs can make this connection when comparing their. According to Iyiola and Azhu, in 2014, women entrepreneurs contribute countless ideas and a large amount of energy and capital resources to their communities, generating jobs and creating additional work for suppliers and other spin-off business ventures. In recent years their contributions have been even higher.