Risk Taking and Entrepreneurship: Executive Research Paper

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The more knowledge of a market an entrepreneur has the better. This includes the litigious side of the market. When an entrepreneur sets up a business, even employing the proper employee dynamics, financial decisions and logistical moves, legal issues can doom the entire operation. Entrepreneurs can avoid much of this type of risk by fully understanding their business, and by having prior experience with the product or industry. It is important to understand as well that overseas markets are not the same as domestic ones, and many issues are likely to arise out of unique and different legal environments, exclusive to overseas markets and products.

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Entrepreneurship is a veritable minefield when it comes to risks. These risks are inherent, and without them there would not be the same kinds of satisfaction and payoff that occurs with them intact. When entrepreneurs are made fully aware of these risks and how to avoid them, they can more successfully navigate this minefield and become productive and often very wealthy......

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