impact of motivation on employee performance
Q.1……
Answer……
Entrepreneurship is the tendency of a person to organize his own business and run it profitably, exploiting the qualities of leadership, decision making, managerial caliber, etc.
Risk Talking
Risk-taking in its true sense indicates that risk is ignored in taking decisions and actions. We should rightfully use the word ‘risk averse’ for the entrepreneurs. Risk averseness implies taking ‘calculated’ risk and expecting premium for the risk taken. As the risk goes up the expected premium in return also goes up at a higher rate.
Calculated risk means a few things, namely,
Determining how much risk one should take. Risk taking ability of a rich person is higher than that of a poor person. Still, two equally rich persons in equal situations may not equally perceive the risk in a given opportunity.
Risk assessment is equally important.
Risk mitigation is the final step that a risk-averse person would consider while taking calculated risk. Risk mitigation means taking steps to manage risk. For example, insurance against non-business is essential; identify non-business risks and insure them.
Sense of limits
In every society people develop sense of limits from parents, friends and surroundings. These are the limits of what we can do and what we cannot, and what we can accomplish and what we cannot. Such sense of limit is a result of social permissiveness at a given point of time in a society. On one side, developing such sense of limit is desirable because without adhering to social norms a society cannot function as a civilized society. On the other, the same sense of limit would impose more ‘don’ts’ than ‘dos’. Entrepreneurs are different. them do not abide by the limits recognized by the society or they fight against these limits.
Locus of control
There are two types of people in the world– (i) those who blame others and external situations for whatever happens with them, and those who believe that they could have done
Answer……
Entrepreneurship is the tendency of a person to organize his own business and run it profitably, exploiting the qualities of leadership, decision making, managerial caliber, etc.
Risk Talking
Risk-taking in its true sense indicates that risk is ignored in taking decisions and actions. We should rightfully use the word ‘risk averse’ for the entrepreneurs. Risk averseness implies taking ‘calculated’ risk and expecting premium for the risk taken. As the risk goes up the expected premium in return also goes up at a higher rate.
Calculated risk means a few things, namely,
Determining how much risk one should take. Risk taking ability of a rich person is higher than that of a poor person. Still, two equally rich persons in equal situations may not equally perceive the risk in a given opportunity.
Risk assessment is equally important.
Risk mitigation is the final step that a risk-averse person would consider while taking calculated risk. Risk mitigation means taking steps to manage risk. For example, insurance against non-business is essential; identify non-business risks and insure them.
Sense of limits
In every society people develop sense of limits from parents, friends and surroundings. These are the limits of what we can do and what we cannot, and what we can accomplish and what we cannot. Such sense of limit is a result of social permissiveness at a given point of time in a society. On one side, developing such sense of limit is desirable because without adhering to social norms a society cannot function as a civilized society. On the other, the same sense of limit would impose more ‘don’ts’ than ‘dos’. Entrepreneurs are different. them do not abide by the limits recognized by the society or they fight against these limits.
Locus of control
There are two types of people in the world– (i) those who blame others and external situations for whatever happens with them, and those who believe that they could have done