TOPIC 3

 What do you understand the concept and tools for risk management? How to manage risk as an entrepreneur?

There are some concepts that we have to keep it in mind when managing risk. The most important concept is to know how to identify and assess risk. Getting to identify potential risk earlier may give us a advantage to handle the issue that might come later that affects our business. The market and regulatory changes happens quickly so we need to assess and prioritize which risk to handle first in order to minimize our losses. With the rise of Artificial Intelligence, there are a lot of AI which can analyze large data models in real time and provide us the best insights to inform us about the best decision.

With these concepts and tools in mind, how do we really manage risk as an entrepreneur. One thing that i can think of is having a backup plan in case things go the way we don't expect. Having an emergency fund is also important and signing up for insurance could help protect our properties. Overall, effective risk management is essential for entrepreneurial success because it safeguard our businesses and maximizing opportunities for growth.


Edited by TP071849

References

Team, 1.A., & Team, A. (2023, February 1). How to manage risk as an entrepreneur. AIContentfy. https://aicontentfy.com/en/blog/how-to-manage-risk-as-entrepreneur




Comments

Post a Comment

Popular posts from this blog

TOPIC 2 - How to adapt the society 5.0 and its development , including learning and developing some essential entrepreneurial skills? (TP071168)

Image
  Society 5.0 is commonly known as Super Smart Society and data are collected from the "real world" and are processed by computers.  By applying the results to a real-world situation, it helps to envision a human-centered society by integrating cyberspace and physical space. Society 5.0 relies heavily on the advancement of technology, such as artificial intelligence, big data, and the Internet of Things (IoT) to develop by becoming more sustainable. Now let's focus on how to adapt to society 5.0 through learning and developing some entrepreneurial skills. First, it's crucial to develop skills such as critical thinking (empathy, creativity, and adaptability) as Society 5.0 values human-centric solutions. Technology and society evolve rapidly day by day, and adaptability is a must to respond well to changes in a business environment. entrepreneurs need to engage in continuous education through online courses, workshops, and seminars in order to gain insight that is driv...
Read more

TOPIC 8 - GrabFood (Group)

Image
  What is Grab Food (Owen) Tsang Da Xin (TP071168) Grab Food, which is an online application for food and delivery service. Grabfood was underGrab Holdings Inc., which is commonly known as Grab. It is a multinational company, foundedand started business in 2012 by Anthony Tan and Tan Hooi Ling. In the beginning, it started asMy Teksi application based in Kuala Lumpur and it expanded as Grab Teksi in 2013. It has sinceexpanded into other services, following the 8super app9 model. Finally, in 2014, it moved itsheadquarters to Singapore and renamed it Grab. Grab now not only serves transportation servicesbut also includes food delivery, courier, and payment services. Therefore, Grab started to expandtheir business and added the Grabfood service in 2018 in order to provide customers with a fastand easy food delivery service to spoil the foodies in their customers (Food.grab 2021). GrabFood offers a food delivery service and a digital payment service through the Grab mobileapps. Grab Fo...
Read more

TOPIC 2 - How to adapt the society 5.0 and its development,include learning and developing some essential entrepreneurial skills?

Image
H ow to adapt the society 5.0 and its development, include learning and developing some essential entrepreneurial skills? Society 5.0 is a vision for the next stage of societal evolution, mixing technological developments such as artificial intelligence, the Internet of Things (IoT), big data, and robotics to create a humanized society. To adapt to and develop under Society 5.0, individuals and organizations have to support innovation, entrepreneurship, and continual learning. Here's an outline for adapting to Society 5.0 and developing crucial entrepreneurship skills: Understand the Principles of Society 5.0. Inform yourself about the concepts and goals of Society 5.0. This includes focusing social issues, improving quality of life, and promoting sustainability through technology innovation. Continuous learning and adaptability : Society 5.0 is distinguished by rapid technical breakthroughs. Adopt a mindset of continuous learning and adaptation to keep up with the changes. Stay u...
Read more