Risk Taking and Control

One who decides to succeed, One who overcomes failure, One who takes calculated risks, He is an entrepreneur.

UDYAM SHASTRA- Chapter 5,Verse 2

Key Objectives:

Reading this module and doing the student activities will enable the students to:

  • Understand the meaning of risk.

  • Understand the control measures to be taken for risk control.


Enterprise Concepts:

Risk.Entrepreneurs by nature take initiative into the unknown. They thus take a risk or in other words chance, in a calculated manner, for a future reward.

Controls.Entrepreneurs set up controls i.e. checks to minimise adverse effect of risks.

Rewards.Rewards are gains that an entrepreneur seeks. Monetary gains appear as obvious rewards.However, a sense of fulfillment, achievement and self-worth could also be rewards. 

Enterprise Skills:

The student 'Activities' in each lesson are designed to clarify the ENTERPRISE CONCEPTS of the lesson and develop some ENTERPRISE SKILLS (E.SKILLS). The E.SKILLS included in a lesson may not be exhaustive, but are indicative.

E.SKILLS stated in a lesson elsewhere may also get addressed through the activities of a particular lesson.

Some useful E.SKILLS are dealt with below:

Risk Taking.The courage to expose oneself to possible uncertainties and losses. 

Activities:

Activity 1 - The Guest Speaker.