Introduction to entrepreneurship/IENT101/Nature/Risk



Anyone thinking about starting a new business or venture of any kind needs to think about possible risks and reward.

There are two elements to risk assessment: The likelihood that the bad thing will happen and the impact if the bad thing does happen.

A reward is an incentive - it may be financial, but doesn't have to be. It could be positive feedback, customer loyalty, reputation, and so on.

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