RISK EVALUATION AND MANAGEMENT ON ENTREPRENEURIAL DECISION MAKING

Entrepreneurial decision making is a complex and dynamic process that involves identifying opportunities, evaluating alternatives, managing risks, and adapting to changing circumstances. Research shows a difference in the evaluation of a business model of an organization by the entrepreneur and by the researchers. It shows, based on an extensive list of questions, the decision to be taken on strategic level differs by entrepreneurs compared with the decision to be taken by researchers based on the same set of questions. Keyword: Entrpreneurial Decision-Making, Small & Medium Enterprises, Risk Evaluation &Management, Decision-Making Styles, Bounded Rationality, Impact on Firm Performance.