Classify the factors responsible for business risks. - Vidyadip

Question

Classify the factors responsible for business risks.

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Answer

The factors responsible for business risks can be classified as:

Internal factors: These are those factors which arise from the events taking place within the business itself. Since these factors arise from within an organisation, therefore, they can be controlled by the entrepreneur to a certain extent.
External factors: These are those factors which arise due to the events occurring outside the business organisation. Such factors are generally beyond the control of an entrepreneur.

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