Respuesta :
Innovation, which can be a significant point of differentiation for a product or service, is made possible and encouraged by taking risks. Not all failed risks are disastrous. Sometimes, they teach entrepreneurs the most important business lessons. Failure can eventually result in business expansion and help shape future business strategies.
When starting a new business, which of the following factors is most important?
The owners' and business management's most crucial responsibility is financial management. They need to think about how their management decisions might affect the company's profits, cash flow, and financial situation.
When starting a business, what kinds of risks do business owners take?
Bankruptcy, financial risk, competitive risk, environmental risk, reputational risk, and political and economic risk are just some of the risks entrepreneurs face.By developing a realistic business plan, entrepreneurs need to budget effectively and demonstrate to investors that they are taking risks into account.
To learn more about entrepreneurs here
https://brainly.com/question/13897585
#SPJ4
