What Is Entrepreneur Decision Process?


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Nouman Umar answered
An Entrepreneur is one who is doing business which is owned by him. So in daily routine business they have to take a number of decisions for running their processes. The decision making of a successful entrepreneur depends upon many things and he has to go with many options to select the right one and this is a very complex process.

He always looks for opportunity and minimizes his risk in the business. So sometimes he needs to take decisions which are urgent in nature and they need to be taken on the spot in order to avail any opportunity. So in making decisions some businessman take lot of risk in order to carry any traction or in the hope to earn more profits. So the risks are part of the decision making process.

The Entrepreneur decision making process is based on the experience he has from his life. So many factors contribute in taking any decision such as experience, market situation, profit margins, market expansion, good will and many more things. So all of these things have an influence on the decision of an entrepreneur. He assigns weight when considering these factors in the decision making of anything. So this is how the entrepreneur makes decision about anything.

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