How Can Entrepreneurs Minimize Risk

question 17

Multiple Choice

How can entrepreneurs minimize risk?

• A) Market research;
• B) Focus groups;
• C) Beta testing;
• D) All of the above;
• E) None of the above.

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Definitions:

Economic Responsibility

An entity's duty to make decisions that benefit the economic well-being of society and stakeholders.

Virtue Ethics

Virtue ethics is an approach to ethical thinking that emphasizes the importance of developing good habits of character, stressing the role of virtues like justice, temperance, and courage in ethical behavior.

Economic Responsibility

The obligation of a business to contribute to the economic well-being of a community, including generating jobs and paying fair wages.

Philanthropic Goodwill

The tangible or intangible benefit gained by a company through charitable activities and contributions to society, enhancing its public image and stakeholder relationships.