Business – 1.1 Enterprise – The role of entrepreneurs and intrapreneurs | e-Consult
1.1 Enterprise – The role of entrepreneurs and intrapreneurs (1 questions)
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Key risks and mitigation strategies include:
- Financial risk:
- Mitigation 1 – Prepare detailed cash‑flow forecasts and maintain a contingency fund.
- Mitigation 2 – Use staged financing (e.g., seed, angel, venture capital) to spread funding risk.
- Market risk:
- Mitigation 1 – Conduct thorough market research and test the product with a minimum viable product (MVP).
- Mitigation 2 – Adopt a flexible business model that can pivot based on customer feedback.
- Operational risk:
- Mitigation 1 – Develop robust standard operating procedures and invest in staff training.
- Mitigation 2 – Use reliable suppliers and diversify the supply chain to avoid single‑point failures.