You should read the article of Breda McCarthy: The cult of risk taking and social learning: a study of Irish entrepreneurs
Please, answer the following questions in a Word-document. Be careful that you use your personal argumentation and opinions. You might take straight citation from the article and explain it in your own words. Don’t rewrite the article!!
Use max. one page for each question.
One of the most important characteristics of entrepreneurs is the attitude concerning business risks. The article talks about Irish entrepreneurs and their ability to take or not take risk in their business. Please, read the article and answer the following questions:
1. The article deals with risk-taking propensity. What is meant by that? What different risk-taking propensity do the different entrepreneurs represent? Can you name reasons behind the different behavior/risk-taking propensity?
2. How can you explain trait?
3. The article explains how the entrepreneurs’ risk-taking propensity changes while their business is evolving through time. Why do different entrepreneurs react differently in different phases of the business processes?
4. What happens if a crisis arises? Explain while different entrepreneurs react differently to crisis and changes!
5. Reflect on your personal risk-taking propensity? Analyze your risk taking propensity, your characteristic traits, your anticipated behavior during a crisis.
(You will need your risk-taking propensity analysis in the 2nd assignment when identifying risks. You have then to argue why you would consider the target activity/happening as a risk in opposite to a hazard. )