Entrepreneur's think in terms of stages or increments. They
never commit large resources up-front, working within a single stage. The
traditional manager, on the other hand, is given a budget to complete a project
and he or she will force an outcome no matter what new facts may emerge during
the life cycle of a project. Compare this approach to the entrepreneur who
never takes such huge risks. Entrepreneurs manage risk by making decisions
incrementally and they move forward very cautiously, moving to the next stage
only if a specific event or action has occurred. This approach allows the
entrepreneur to better control risk as opposed to the traditional manager who
takes on major risk. By not wasting valuable resources, entrepreneurs not only
manage risk better, but they preserve and protect value. They also have better
control over the final outcome of projects.
(taken from http://www.exinfm.com)
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