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What is Risk-Taking

Chapter 4
Financial Management and Risk Analysis Strategies for Business Sustainability
Propensity to get involved in risky projects and the capacity to manage their inherent uncertainty. Risk-taking is the disposition of an organization to determine and act without a definite knowledge of possible returns and possibly consider personal, financial and business risks.
Published in Chapter:
Financial Literacy and Innovation Performance in SMEs: The Mediating Effect of Risk-Taking
Marta Campos Valenzuela (University of Malaga, Spain), Sofía Louise Martínez-Martínez (University of Malaga, Spain), and Julio Diéguez Soto (University of Malaga, Spain)
Copyright: © 2021 |Pages: 24
DOI: 10.4018/978-1-7998-7634-2.ch004
Abstract
Innovation is an essential aspect for the sustainable development of small and medium-sized enterprises (SMEs). Defining formulas to encourage innovation is therefore crucial. Financial literacy is an area of growing interest in both theory and practice and its relationship with innovation performance has been little studied. This chapter examines the importance of financial literacy for business innovation and the effect that risk-taking has on this relationship. Using a quantitative approach, 309 Spanish SMEs of different sectors are analysed. A mediation analysis shows both a direct and an indirect positive effect on innovation. Thus, this chapter brings insights, developing the existing literature of SMEs. So, it contributes to broaden the scope of the innovation and therefore the sustainable development of these firms. Practical implications are presented for four differentiated areas, which may enhance the sustainable development of SMEs: business management, entrepreneurship, public policies, and university.
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Chapter 21
Exploring Culture and Entrepreneurship Nexus in Peacebuilding: Beyond Fragility of Institutions as Source of Conflict
Risk taking signifies any conscious or non-conscious controlled behavior with a perceived uncertainty about its outcome, or about its possible benefits or costs for the physical, economic or social well-being of oneself or others. The concept of risk involves taking actions which might have unpleasant or undesirable results. Risk taking has been the concern of human beings from the earliest days of recorded history and most likely even before that. Specifically speaking, the concept of risk referred to here clearly describe the act of insuring oneself against possible loss, and the most accurate calculation of the costs and benefits involved. It is pertinent to note that different situations and perspectives lead to different definitions of risk taking.
Published in Chapter: Exploring Culture and Entrepreneurship Nexus in Peacebuilding: Beyond Fragility of Institutions as Source of Conflict; From: Handbook of Research on the Impact of Culture in Conflict Prevention and Peacebuilding
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Chapter 2
The Antecedents of Entrepreneurial Intention Among Nascent Entrepreneurs: Psychological Characteristics and Socio-Cultural Background
To act boldly and spontaneous in less calculated fashion, while borrowing heavily and committing resources into unknown environments and uncertain outcomes in a fearless manner.
Published in Chapter: The Antecedents of Entrepreneurial Intention Among Nascent Entrepreneurs: Psychological Characteristics and Socio-Cultural Background; From: Handbook of Research on Nascent Entrepreneurship and Creating New Ventures
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Chapter 7
Contributions of Entrepreneurial Orientation to Competitive Advantage: The Portuguese Experience of the Textile SMEs
Involves taking bold actions by venturing into the unknown and/or committing significant resources to ventures in uncertain environments.
Published in Chapter: Contributions of Entrepreneurial Orientation to Competitive Advantage: The Portuguese Experience of the Textile SMEs; From: Entrepreneurial Orientation and Opportunities for Global Economic Growth
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Chapter 17
Why Are There Discrepancies in the Results of Entrepreneurial Orientation and Its Impact on a Firm's Performance?: A Review of the Literature
Embodies the business unit management’s commitment of resources to audacious projects that involve high risks with a moderate rate of return, employing planning and prediction to reduce uncertainty in the results.
Published in Chapter: Why Are There Discrepancies in the Results of Entrepreneurial Orientation and Its Impact on a Firm's Performance?: A Review of the Literature; From: Handbook of Research on Organizational Sustainability in Turbulent Economies
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