A risk taken after carefully assessing the advantages and disadvantages
Which of these is a non-financial reward of taking a business risk?
Independence
Why do many entrepreneurs see independence as a reward of running their own business?
They can decide their own working hours and tasks
Why can self-satisfaction be an important reward for an entrepreneur?
They gain a sense of achievement from their business
Which of these is an example of an entrepreneur gaining the reward of making a difference?
Setting up a business that improves animal welfare
Which of these shows an entrepreneur gaining a financial reward from taking a business risk?
The business earns enough profit to pay the owner a regular income
Marco put his life savings into his shop. It closed after a year and he is now in debt. Which drawback of risk taking does this describe?
Financial difficulty
What is meant by work-life balance?
The division of time spent at work compared with time spent at leisure
Why can running a new business damage an entrepreneur's personal relationships?
Long hours and stress can lead to mood swings and arguments at home
Sam worries constantly about whether his new business will survive. He has headaches and cannot sleep. Which drawback is he experiencing?
Poor health and wellbeing
Amir runs his own plumbing business. He does paperwork and answers calls most evenings and weekends and has had no holiday since he started. Which drawback of risk taking is this?
Difficult work-life balance
Nia runs a small business making celebration cakes. Which of these is an example of her gaining self-satisfaction?
A customer says her cake made their wedding day special
Why might an entrepreneur go ahead with a business idea even though it is risky?
The possible rewards are worth more than the possible drawbacks
Leo left a secure job to run his own business and now earns less than he did before. He says he would never go back to his old job. What does this show?
Non-financial rewards can matter to him more than money
Which term describes the reward of being in charge of your own business and deciding what work you do and when you do it?
Independence
What is meant by self-satisfaction as a reward for risk taking?
Pride and achievement from building an enterprise you care about
What is the name for the reward of creating a measurable change for the better, such as improving sustainability or supporting a charity?
Making a difference
What is meant by financial difficulty as a drawback of taking a risk?
Risking your own savings or taking on debt that you may not be able to repay
Which term describes the stress and worry from running a business that can cause heart problems, digestive issues, depression and insomnia?
Poor health and wellbeing
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