Impact of Experience on Entrepreneurship

This assignment examines the profound impact of experience on entrepreneurship. It analyzes how past experiences, both positive and negative, shape an entrepreneur's financial decisions, risk appetite, and overall approach to business. The document delves into the advantages and disadvantages of entrepreneurship, highlighting the challenges and rewards associated with this path. It emphasizes the importance of utilizing experience effectively to make informed decisions and navigate the complexities of the entrepreneurial landscape.

Entrepreneurship and Small Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1 Different type of entrepreneurship ventures and their relationship with typology................4
P.2 Similarities and differences between entrepreneurial ventures...........................................5
M1...............................................................................................................................................6
D1................................................................................................................................................7
TASK 2............................................................................................................................................7
P3 Impact of the micro and small business enterprises on the economy....................................7
P4 Importance of the small business and business start up to grow in social economy.............8
M2...............................................................................................................................................9
D2................................................................................................................................................9
TASK 3............................................................................................................................................9
P5 Characteristics, traits and skills of successful entrepreneurs.................................................9
P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation
and mind-set..............................................................................................................................10
M3.............................................................................................................................................11
D3..............................................................................................................................................12
TASK 4..........................................................................................................................................12
P7 Impact of the background and experience on the entrepreneurship....................................12
M4.............................................................................................................................................13
D4..............................................................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Entrepreneurship is the activity of setting up a business as well as businesses. Along with
this they have to take financial risk to attain maximum profit. Entrepreneur is the person who
start a business in order to attain maximum revenue. By taking the more risk they can improve as
well as develop the business and on the basis of that they can improve their performance. The
staff members of business entity have to improve the skills for doing the innovation, risk taking
ability as well as leadership so that they can increase their market share (Bruton, Ahlstrom and
Li, 2010). Moreover, they focus on the growth so that they become sustain in the competitive
market and by that they can generate more revenue. The below mentioned report is based on
entrepreneurship as well as business management which assist in explaining the different type of
entrepreneurial venture along with the typology of entrepreneurship. This report is having
research on the similarities as well as differences in between them. Micro and small business
enterprises having a impact on economy, statics as well as data which helps in describing the
impact on UK of it. Moreover, explanation on traits and skills of the entrepreneur (Business and
entrepreneurship skills and experience. 2013).
TASK 1
P1 Various type of entrepreneurship ventures and their relationship with typology
It defines the process of designing, launching as well as running business which helps in
starting a small business so that they can offer a innovative product, process or services and
improve the sales. Entrepreneurship also defines the willingness and capacity so that they can
take a risk and on the basis of that they can develop and manage the work as well as activities for
earning the maximum profit. The main key ventures will engage in entrepreneurship is that those
who like doing what they are doing. On the other hand, successful entrepreneurs do not wait to
even think off and gives them an idea, to work.". And it also evaluates innovations by
contributing to the market and customer.” Most of the people who remain in the outback leaves
nothing behind. They have to take more risk and risk can be in the form of lack of funds,
investment criteria etc. There are many type of entrepreneurship ventures are as follows:
Small business ventures: It includes those person who start the business and the main motive of
this firm is to achieve or generating more revenue by taking more risk. It includes the grocery
stores, electrician etc. The members who are starting the small scale business does not having

any source of taking a loan along with the funding, so they can take funds only from their family
members or friends (Alsos, Carter and Ljunggren, 2011).
Scalable start-up ventures: This type of business are established with a motive to change a
vision as well as mission of the world. In this type of venture they can attract the investment
from the capitalists of venture. It aims in maintaining a profit after a specific period of time. This
type of ventures focuses on rapid expansion of the business. These type of business does not start
by the entrepreneur.
Large company venture: It is also a form of venture which include the large amount of
investment of capital by the owner. It includes the different factors like sustaining innovation,
offering the new and upgraded products so that they can attract the large number of consumers.
They have to produce the product according to the taste and preferences.
Social venture: These type of business venture focuses on the creating of the new products
according to the needs and wants of consumers so that they can attract the large number of
consumers and generate more profit. It helps in making a world to a better place so that they can
live and also work for societal purpose (Awogbenle and Iwuamadi, 2010).
These are the type of entrepreneurship which are related with the typology of
entrepreneurship. Those entrepreneur who start a small scale business having a less experience
and also a lack of money. Entrepreneur always focus on generating the more revenue. But on the
other side, those entrepreneur who are doing large scale business with all the strategies as well as
norms so that they can attain the goals and objectives by using the new and innovative ideas so
that they can generate more profit. Typology defines the different type of entrepreneur in the
different ventures includes
Skeptical entrepreneur – these helps in attaining the success. Along with this it helps in
examining the business of the person as well as inheritance so that they become successful
entrepreneur.
Research entrepreneur – These type of entrepreneur love to more learning and by that
they can make good strategies to grow a business (Carraher and Paridon, 2015).
Accomplished entrepreneur – These entrepreneur gone through the all stages of
entrepreneurship and then they build a business and then reached to success.
Determined entrepreneur – these entrepreneur attain success without copying and then
they can do everything for starting the business or for enhancing the growth of the business.

Serial entrepreneur – It is an individual person who start and led one business after
another or doing multiple business at a same time.
Social entrepreneur – It is a person who build or establish an enterprise with a aim to
solve social problems or effecting social change.
Female entrepreneur – It is an entrepreneur who start the business. This business is
started by a women and they have a full control on business activities. A female entrepreneur is a
woman who can design, develop and start their business at the initial stage and then transform in
to a large organization.
The main qualities of entrepreneur is adaptability, persistence as well as work ethic which
helps in attaining goals and objectives.
P.2 Similarities and differences between entrepreneurial ventures
Intrapreneur is an inside entrepreneur or they are in the large firm who use the
entrepreneurial skills without taking any risk which are associated with the different activities.
They have to use the resources as well as capabilities of the firm at their disposal. Social
enterprise is a business which having a social objectives to attain the maximum surplus and
reinvest for that purpose in the business and community so that they can maximise the profits for
the owners as well as shareholders. Social entrepreneur is a person who establishes an enterprise
which paving an aim to solve the problems or effecting the social change. Entrepreneurial
ventures are the different type of entrepreneurship. Along with this these ventures having a
similarities as well as dissimilarities (Carsrud and Brännback, 2011). For the business entities as
well as for its employees, these business entrepreneurial venture having a perpetual quest so that
they can find out the new avenues for creating the maximum wealth. But, on the other hand
social entrepreneurial ventures are those who are doing their work and provide the services to the
society. Along with this the dissimilarities between small business entrepreneur and social
entrepreneur ventures are:
Goals: For a business entrepreneur, success means that they have to achieve the financial
as well as business goals according to the interest of shareholder. Whereas social ventures works
for the betterment of the society.
Mind-set: It is one of the biggest difference between social as well as business
entrepreneurial ventures of mind-set. The mind of social venture should be set according to the
members of society and its wellbeing. On the other hand, the main aim of business venture is to

maximise its profit by the business operations in the market place (Chittithaworn and et. al.,
2011).
Value creation: The ventures of business entrepreneurial have to deliver the value to
their consumers and on the basis of that they can attain the maximum profit by using the
competitive pricing for making the better products and providing the appropriate services to
consumers. On the other hand, social ventures succour in aiming to serve the economic value to
the society members by creating the positive impact on the targeted communities and on the
basis of that they can attain as well as generate the maximum revenue (Kirzner, 2015).
Similarities between the business venture and social venture are: These both are the types
of entrepreneurial ventures which are operated by the small scale entrepreneurs. The employees
who are doing the work in a small scale company having a good skills along with the capabilities
so that they can do the proper designing and operating a business firm. They have to adopt more
risk so that they can generate the more revenue. The main aim or motive of both the business
venture is that they have to obtain the goals and objectives which are decided by the owner of the
firm.
Basis Serial entrepreneur Social entrepreneur
Similarities Both the entrepreneur focused on developing or improving new
products as well as services by the creativity and innovation for
its business to attain success.
Dissimilarities Serial entrepreneur developed
its business up to the particular
and specific level and after that
it is developed by other person.
The main aim of social
entrepreneur is develop
merchandise as well as
services which helps in
solving the problems which
they are facing.
Basis Female entrepreneur Male entrepreneur
Similarities Both the entrepreneur are focuses on developing along with the
designing distinct products and services so that they can earn

maximum profits and transform them into large organizations.
Dissimilarities Female entrepreneurs are
trying to change society or
community. Along with this
they have to set ideal for entire
society.
Male entrepreneur is mainly
focused on gaining profits and
do the future oriented
activities.
There are different type of entrepreneurial ventures in the public as well as corporate
sector. They have to use appropriate skills so that they can improve and achieve the task in a
proper manner. Along with this they have to take more financial risk so that they can earn more
revenue and by that they can attain targets.
D1
According to Leitch, Hill and Neergaard, (2010) in the small scale business the
entrepreneur have to develop the ideas so that they can make the changes accordingly and by that
they can do the development as well as enhancing the growth. Every entrepreneurial have to take
risk so that they can generate the maximum profits.
TASK 2
P3 Impact of the micro and small business enterprises on the economy
Small scale business is a base of the developed business so it is important as well as
essential for UK that they have to open more firms so that they can support their economy. These
type of business enterprise having a direct as well as indirect impact. Along with this these type
of business does not have large turnover to do contribution in economic growth.
There are various types of business organization according their size and scope as given below:
Micro business It is a small form of business which can operate
their business in a limited area.
Small business This is another form of business which is quite
large form micro business.
Medium enterprises It is also a form of business which is larger in
terms of size and scope.

Some points are:
Direct impact – These type of business organisation having a direct impact. They provide the
proper support so that they can attain or enhance the growth in the economy. Most of the
organisation run and owned by private entrepreneurs (Dennis Jr, 2011). Along with this it helps
in increasing the employment. By this they can generate and introduce the more opportunities
which helps in reducing the rate of unemployment. The youth of UK attracts towards the new job
figures and this creates a big impact on the increment on the employment rate and on the basis of
that company members can generate more revenue as well as profits.
Indirect impact -These organisations helps in providing the opportunities to those person who
are unemployed and by that they can make contribution in economic growth. They have to make
supplies with the big structured organisation. These are the supplementary organisations which
are working for them to generate the maximum revenue. The small scale business have to
generate the new business ideas and have to make changes according to that so that they do best
business activities which helps in attaining the targets.
These points having an impact on UK economy and these helps in providing the
opportunities to the unemployed people and it also support in improving growth of productions
(Defourny and Nyssens, 2010).
There are different type of business includes:
Sole proprietorship – It is a legal structure is also easy and they can do every work and
the objective is to create the self-employment, to utilize funds, equal distribution of wealth.
Partnership – In this every partner of business entity have to introduce capital,
management as well as labour and all the things should be written in an agreement.
Private - A private limited corporation which is managed and controlled by the private
players. It is a small business unit as compare to Public Sectors Company.
Four areas of SME which assist in economic growth of economy are:
Job Creation: It is the most important contribution which is provided by small business
and micro firms towards the economy of UK.
Support domestic economy: United Kingdom is one of the attractive financial
destination for foreign investors.
Employment generation: Start-up ventures also provide large number of jobs through
various sectors such as hospitality, retail, tourism, transportation etc.

Improve standard of living: The role of small entrepreneur in the country are support the
all economic aspects.
P4 Importance of the small business and business start up to grow in social economy
BREXIT is a term in which UK leaves the European Union. After BREXIT, UK
economy focuses on establishing small business as well as on start ups which make positive
contribution on economy. The biggest threat from this referendum is, in truth, not to Britain but
to rest of Europe, which is why the EU should think carefully about how to respond. It has been
judged by this referendum and found wanting. Britain will not be the last to tell it so. Polls have
shown between a quarter and third of people across Europe are now deeply hostile to the
European project. The economies of southern Europe are in a Germany-induced lockdown.
Brussels, and its German paymasters, are in trouble. Social economy is a type of joint venture in
the private as well as public sector organisation. It is the third sector of company which is a
combination of the private and public business entity. Small business enterprise which having a
vital significance so that they can grow the social economy. Significance of social business
enterprise is:
Job creator – These type of business organisation helps in providing the jobs in the society which
having a direct impact on social economy of the country. They have to recruit people according
to the need of work as well as business and by using the own contact they can do recruitment and
selection of the candidates (Dacin, Dacin and Matear, 2010).
Innovative thinking – For starting the business they have to use innovative minds. The staff
members having a new business tactics so that they can increase the products and services.
Innovative thinking having a large impact on society to improve the thinking level of people.
These small scale business entities spread the innovative ideas in the society which helps in
enhancing the level of thinking and by that they can do distinct things.
Providing skills – Those person who are working in the organisation not fully skilled and not
using their skills according to the demand of enterprise(Herrington, and et. al., 2010). The
owners of small scale business have to provide the proper training so that they can improve the
skills according to the needs of the entity and this is betterment for society.
Motivator for self development – The owners of small scale business enterprise have to provide
the motivation for the unemployed person for the unemployment. For their financial

development they have to provide the appropriate motivation so that they can increase their
standard of living by earning more revenue (Welter, 2011).
Financial supporter – These organisation helps in providing the proper financial support to those
person who lives in society. These type of business organisation having a connection directly
with their employees to provide the financial support for the people of society in their critical
financial condition by using the upgraded techniques and technology.
These are the points which are related to significance of small scale enterprise in a social
economy.
Basis Small-business Start ups
Economic and social
development
It contributes to wide sections
of society and have to make
proper contribution in
economy at wide level.
The contribution of start-ups
in economic and social
developments which is limited
to a particular region.
Government revenue, taxes
and foreign gains
Small businesses is generated
large amount of revenue to
regulatory bodies and have to
pay high rate of tax.
Start-ups is mainly focuses on
developments and generated to
only limited revenues for
governments.
Economic growth It contributes and generated
significant number of
employments for individuals.
It contributes to economy by
promoting innovation and new
ideas.
The significance of small business as well as start-up which contribute to the following
aspects includes income, employment, innovation as well as potential for expansion along with
the reducing the dependability of a particular region so that they can provide low cost products to
their consumers. With the help of the small business and start-ups society gets low cost products
along with quality.
M2
In small business approximately 50 employees are doing work in the company and fulfil
the needs and wants and they are not high revenue generator. In medium level, 50 to 250 staff

members are working and level of revenue also high. In large organisation more than 250
employees are working in attaining the success.
D2
According to Martin, McNally and Kay, (2013) Small business having a impact on the
different levels of the economy whether it is local, regional, national and international. It helps in
reducing the unemployment and also improve the productivity of the workers.
TASK 3
P5 Characteristics, traits and skills of successful entrepreneurs
Entrepreneur is a person who helps in taking the risk for improving the business by
utilizing the maximum opportunities and have to make correct decision for the business firm.
Entrepreneur have to make decision that what and how much products will be produced by firm.
Along with this they have to take more risk so that they can generate more revenue. Moreover,
they have to monitor and control the business activities (Bosma and Levie, 2010). Generally
entrepreneur are not born successful they have to use make efforts or use their talents to become
successful. They have to use their own mind as well as creativity or they have to do innovation to
make the new and innovative products so that entrepreneur become successful. So, the
entrepreneur are not born successful they put efforts to made successful in the market. One is

Mark Zuckerberg, who has given the famous application namely Facebook. Facebook is an
application which connects people across the world. Through Facebook we can socially connect
with each other also can exchange photos and videos and other is Bill gates, who is a co-founder
of Microsoft company and also the richest man in the world. The main characteristics are:
Innovative: They have to use innovative skills so that they offer and deliver best products and by
that they can attain goals and objectives.
Disciplined: They have to focus on their targets so that they can achieve and eliminate any
hindrances or the distractions to their goals. Entrepreneurs plan each and everything on their own
like overarching strategies as well as out ling the tactics which they have to accomplish. They are
disciplined to take steps to move forward in order to achieve their desired goals. They are full of
determination as well as they are not having any intention that they have to take risk to develop
the business. Along with this they are having a high confidence level as well as they have to
increase their knowledge by learning new things. Moreover, employees of the business entity
have a full understanding that how they have to manage the money.
Confidence: They have to remain always confident so that they can do best work and
have to take risk in a proper manner. They have to be confident about the knowledge so that they
can attain the success (Barringer, 2012).
Open minded: They have to do innovative thinking and have to generate the ideas so that
they can improve the skills and learn new things.
Self-motivated: A good entrepreneur is self-motivated and have to put more efforts so that
they can attain the goals and objectives.
Full of determination: They have to enhance the growth, increase the sales and hire the
new employees so that they can easily obtain the goals with the full determination.
Difference between entrepreneur and business manager:
Entrepreneur Business manager
These are those person who take more risk and
generate more profit.
These are the person who take responsibilities
to control and administer the business
activities.
It focus on the start-up business and motivate
the employees to achieve goals (Ebert and et.
It focus on the control on the operations of the
business and primary motivation is to get

al., 2014). power.
It is the owner of the business entity. It is the person who hire by the owner of the
firm to control the business activities.
It is having a good confidence and self-
motivation which helps in attaining goals and
objectives.
It helps in motivating and encouraging the
employees to attain set targets.
P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mind-set.
Entrepreneur having the ability to operate the business activities. Along with this they
have to take risk and have to make maximum profits (Durst and Runar Edvardsson, 2012). They
have too many characteristics which make them unique and different in the world among all the
other entrepreneur. The other entrepreneurs who are starting the business can be motivated and
make them ideal so that they can learn more things and also helpful in improving the skills as
well as tactics so that they become successful entrepreneur. As discussed above, Mark
Zuckerberg and Bill gates are one of the most successful entrepreneurs which have inspired
youths by their skills and characteristics. Mark Zuckerberg has launched an application namely
Facebook, which connects people all over the world. They can use different applications which
helps in connecting the different people in the whole world. The entrepreneurs who are starting
the new business they are full of innovation, technical as well as determination which helps in
making the different from the others and by that they can attain the goals and objectives (Jones
and Rowley, 2011). Along with this, Mark Zuckerberg has created the passion and spirit in the
minds of entrepreneur to continue till the task has completely achieved. In the field of
technology, the person having a capability which helps in inspiring and thinking to launch the
new applications which assist in connecting the different people and all the work should be done
in a proper manner. On the other hand, Bill gates was of opinion that “if somebody dies poor, it’s
his negative point.” it means he has sparkled the light of passion and changed the mind-set of
upcoming entrepreneurs. According to Bill gates, Self-motivation and open-mindedness are one
of the most important factors which can make an entrepreneur successful. A good entrepreneur
should have a discipline in the plans as well as goals so that they can achieved and have to

complete in time. They have to create the passion and spirit in the minds of entrepreneur so that
they can continue the task which can easily achieved. They have to set their mind to do the
appropriate work and they have to always remain self-motivated and open minded so that
entrepreneur become successful. Entrepreneur should have self-confidence so that they can do
their task in an appropriate manner (Fayolle, 2013). They have to utilize the strength as well as
opportunities for overcoming from the weaknesses and threats in the best way. They have to
effective communication which helps in convey a proper message so that entrepreneur can
improve their productivity as well as proficiency. Sometime, entrepreneur become fails as it is
also a part of the success. By doing fail in enhancing the growth or increasing the sales they can
learn more things and attain some experiences which helps in providing the self-motivation to
complete the task in time and in proper manner. They have to create a passion along with the
enthusiasm about the entrepreneurship among the different people. In today's world, people are
getting influenced by the skills and achievements of Mark Zuckerberg and Bill gates. The five
factors have been defined as openness to experience, Awareness, outwardness, compliance
and neuroticism, often listed under the acronyms OCEAN.
Openness to experience: Acknowledgement for art, adventure, unfamiliar ideas as well as
several types of experience. Openness shows the degree of cognitive interest, creativity and a
favourable for original and variety an individual has.
Awareness: High conscientiousness or awareness is generally sensed as stubbornness and
obsession. Low awareness is associated with flexibility and spontaneity.
Outwardness: High outwardness or extraversion is usually sensed as attention-seeking, and
domineering. Low outwardness causes a reserved, reflective or thoughtful personality, which can
be sensed as reserved or distant.
Compliance: High compliance is often seen as innocent or submissive. Low compliance
personalities are often competitive or challenging people, which generally seen as argumentative
or untrustworthy.
Neuroticism: A high need for stability proves as a stable and calm personality, but usually seen
as uninspiring. A low need for stability causes a reactive and easily excited personality, generally
very dynamic individuals, can be sensed as unstable or insecure.

M3
The successful entrepreneurs are Mark Zukerberg who having the famous application
namely Facebook. It is an application which helps in connecting people in the whole world.
Another is Bill gates which is an owner of Microsoft and also a richest man. Both are innovative
and self-motivated and complete the task in a proper manner.
D3
Mark Zukerberg launch the application Facebook which connect the different people in
all over the world. He is having a capability to do the good work and he is a man full of
motivation. Bill gates is a self-motivated and open minded person which makes him successful.
TASK 4
P7 Impact of the background and experience on the entrepreneurship
Background as well as experience having a huge impact on the entrepreneurship. Some
business along with the entrepreneurs are impacted the backgrounds as well as history of their
business as it affects the image and profits of the company in the market. Each entrepreneur who
are doing the small scale business having their own background. Along with this they are having
their own family, standard of living and education. In the business activities, background having
an adverse effect (The Role of Small Business in Economic Development. 2017). It assist in
determining the level of thinking along with the point of view so that they can consider in the
different aspects. If the entrepreneur of small scale business facing some conflicts or the
financial crisis in their history then it makes the influence on their financial. Along with this
these entrepreneurs having a positive thinking for the person who are included in below poverty
line and they are helping them in improving their business ideas so that they can attain the
maximum profit. Entrepreneurs influenced their mind which is set by starting the business on the
education. It helps to them to apply their education in practical and by that they can learn more
things and attain their goals and objectives. If an entrepreneur had faced some financial crisis or
poverty in their history, it makes an influence on their financial considering, these entrepreneurs
are having a positive think for the below poverty level peoples and they are helping to them by
their business ideas.
Experience is also a factor which influenced the entrepreneur in making the correct
decisions to start the business and it is having a positive as well as negative impact on the mind

set of entrepreneurs. It assist in considering the different things so that they can attain the
maximum revenue and it is a positive impact. When the entrepreneur facing bad experience then
they having a negative impact on the person and on the basis of that they can decrease their
motivation level (George and Bock, 2011). Experience of the entrepreneurs divided into two
parts that is good and bad. Good experience helps in improving the motivational level. Along
with this it assist in improving the productivity as well as efforts of the person who are putting in
the business. Moreover, it helps in increasing the knowledge and potential so that they can make
correct decision for improving the business. Bad experience provide the demotivation to
entrepreneur and by that decision making power also affects and on the basis of that they can
reduce the chances of same.
So, experience as well as backgrounds are having a huge and adverse impact on
entrepreneur as well as entrepreneurship. They have to use their experience in a positive way so
that they can attain and generate the maximum revenue (Infographic: Why Business Growth Is
Essential to Great Britain, 2016). It is important for the entrepreneur that from the background
they have to take learning and used it in a positive manner for the betterment of the business
ideas. Along with this it also helps in making the correct decision.
Advantages of Entrepreneurship are it gives a great amount of liberty. It allows to set its own
earnings and offers bend-ability. Disadvantages of Entrepreneurship are that it requires to
dedicate and invest ample amount of time. It is often seen difficult to compete with other
businesses. It comes with uncertain work plans. For others, variety includes visible
characteristics such as nationality, ethnicity, sex, age along with the characteristics which are
invisible in nature likewise creativity, beliefs as well as tastes.
Activities which are related to entrepreneurs they have in doing the certain events which
having a adverse impact on both that is equilibrium point of small business as well as the owner
of the company. The health of the owner of the firm is also a asset for the business entity which
defines the characteristics of the different events. The owner of the company have to share the
experience as well as his psychological reaction so that they always remain under-explored. They
have to find the gap by doing the appropriate research which helps in doing the occupational
health along with the entrepreneurship that are rarely combined so that they can attain the
success.

M4
The entrepreneur who are innovative and having the capability to do better work then
they can done their work in a proper manner and by that they can attain the good experience and
learn the new things which helps them in become successful entrepreneur.
D4
According to Onetti and et. al., (2012) If entrepreneur faced some financial crisis or
poverty in their history, it makes an influence on their financial considering, these entrepreneurs
are having a positive think for the below poverty level peoples which helps in improving their
business ideas and by that they can attain good experience.
CONCLUSION
After summing up it has been concluded that the entrepreneurs having the experience in
their fields so that they can make the correct decision in the different sectors like finance,
marketing etc. They have to take more risk so that they can earn maximum profits and by that
they can attain the goals and objectives.

REFERENCES
Books and journals