TOPIC:
RISK ASSESSMENT AND MANAGEMENT IN ENTREPRENEURIAL VENTURES: THE NEED FOR
STRATEGY, REVIEW.
ABSTRACT
Having A fundamental insight of the
basics of risk assessment together with risk management is an infatigable requirement in entrepreneurship, and to the entrepreneur. Entrepreneurial ventures
would be placed on a thin line if no proper attention is given to the
management of risk as well as its assessment. Risk assessment precedes risk
management. You cannot put the cart before the horse and expect a worthwhile
output of profit In business activities. This is because without proper
assessment of the risk, it would be difficult to manage risks in businesses,
which is an inevitable component of entrepreneurial activities.
Risk assessment and management
should not be done today from an amateur approach again. For a meaningful
output in today’s businesses, there is need for the employment of an effective
strategy in risk assessment and management. It is borne out of this initiative
that this paper has been developed
as a remediation to the problem of risk
management and assessment. This remains the onus of the paper, “risk assessment
and management in entrepreneurial ventures: the need for strategy, review.”
This paper therefore focuses on the need for an effective strategy in risk
assessment and management, and in the circumstance necessarily tailoring down
on what those strategies should be although some of these have been highlighted
in the course of study. This envelopes the content of this treatise.
Keywords: risk, risk assessment, risk management, strategy, review,
entrepreneurship, entrepreneur, business.
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