The nonfinancial options available to managers as the venture progresses through its life cycle are known as real options.

Name: The nonfinancial options available to managers as the venture progresses through its life cycle are known as real options.
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Real options refer to nonfinancial options available to managers as the business moves through its life cycle, such as the option to expand into new markets, invest in new technologies or delay a project in order to observe market conditions.

The Nonfinancial Options Available to Managers as the Venture Progresses