Practicing Success
Practicing Success
CUET Preparation Today
| Raghav, an entrepreneur realises that the enterprise he wants to start, has a potential danger of fire accidents because the production process poses such a threat. He develops strategies to: a) Prevent the peril b) Respond to the peril. Which element of the business plan is being referred here? |
Appendix Assessment of risk Production plan Operational plan |
| Assessment of risk |
| Assessment of risk: There are some hazards, risks, or/and obstacles always present in the competitive environment. In a business plan, entrepreneur should: 1) identify potential hazards 2) develop alternative strategies to either prevent minimize or respond to the risk. |
