Entrepreneurs often make a conscious determination of the level of resources they are willing to commit to a venture. This is known as __________.

Question

Quizplus · Accepted Answer

The principle of affordable loss refers to the concept where entrepreneurs decide in advance how much they are willing to lose on a venture, emphasizing a risk management strategy that focuses on minimizing potential losses rather than maximizing potential gains.

Entrepreneurs Often Make a Conscious Determination of the Level of Resources