Risk taking can lead to competitive advantage, but it needs to be managed carefully.

Name: Risk taking can lead to competitive advantage, but it needs to be managed carefully.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

Risk taking, by its nature, involves potential dangers and pitfalls. Only carefully managed risk is likely to lead to competitive advantages. Actions that are taken without sufficient forethought, research, and planning may prove to be very costly. Therefore, strategic managers must always remain mindful of potential risks.

Risk Taking Can Lead to Competitive Advantage, but It Needs