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Authors
Affiliations
1 Department of Management Studies, Mats University, IN
2 Department of Commerce, Durga Mahavidyalaya, IN
Source
ICTACT Journal on Management Studies, Vol 5, No 4 (2019), Pagination: 1083-1088
Abstract
Entrepreneurship is the primary factor for the emergence and development of small enterprises, trade or any business venture and thus assumed significant importance both in research and in action for accelerating economic growth. Entrepreneurs bridge the gap between science and the marketplace by creating new enterprises and bringing new products and services to the market. However new enterprises are sensitive to changes in external environment leads to risk. The intrinsic risk in new venture encourages the entrepreneurs to embrace this risk. It is imperative that the entrepreneurs must manage the environment factors proactively to minimize the adverse effect of the challenging business environments. The purpose of this paper is to provide insight of entrepreneurship and identified major categories of risks faced by the enterprises situated in Chhattisgarh state, to accomplish the objectives of the study both primary and secondary data are used. Primary data are collected through personal survey method by a structured questionnaire from respondents and secondary data are collected through various sources like research articles, text books, newspapers, and websites. The finding of the study will help owners-managers of SMEs to give the importance to the identification, evaluation and management of risks. In other words, incorporating risk management process into operations, SMEs will be better equipped to reduce their negative impact on enterprise success.
Keywords
Business Risks, Entrepreneurship, Risk Management, Strategies.
