Which of the following is the correct option relating to Entrepreneurship?

Entrepreneurs undertake calculated risk

Option 1: Entrepreneurs undertake calculated risk is the most accurate description of entrepreneurship.

Here's why:
Entrepreneurship is inherently about innovation and venturing into the unknown. There's no guarantee of success, so some level of risk is involved. Successful entrepreneurs don't take blind risks. They assess potential risks, evaluate potential rewards, and develop plans to mitigate those risks as much as possible. This calculated approach increases their chances of success. While some ventures may be high-risk, successful entrepreneurs generally focus on calculated risk-taking.

"It is generally believed that entrepreneurs take high risks. Yes, individuals opting for a career in entrepreneurship take a bigger risk that involved in a career in employment or practice of a profession as there is no “assured” payoff. In practice, for example, when a person quits a job to start on his own, he tries to calculate whether he or she would be able to earn the same level of income or not. To an observer, the risk of quitting a well-entrenched and promising career seems a “high” risk, but what the person has taken is a calculated risk. The situation is similarly to a motorcyclist in the ‘ring of death’ or a trapeze artist in circus. While the spectators are in the awe of the high-risk, the artists have taken a calculated risk given their training, skills, and of course, confidence and daring. It is said that the entrepreneurs thrive on circumstances where odds favouring and against success area even, that is 50:50 situations. They are so sure of their capabilities that they convert 50% chances into 100% success. They avoid situations with higher risks as they hate failure as anyone would do; they dislike lower risk situations as business ceases to be a game/fun! Risk as such more than a financial stake, becomes a matter of personal stake, where less than expected performance causes displeasure and distress."