4. Sarika is running an organic …

Images for Sarika is running a organic store under the brand name, 'Earth' in a popular market in Dehradun. She acknowledges that risks in her business cannot be predicted with utmost accuracy as business environment is dynamic in nature. Therefore, it is not possible to predict future events with accuracy like, change in consumer preferences, increase in competition, natural calamities etc. Also, she feels that the risks in business can be minimised, but cannot be eliminated all together. As her business is operated at a small scale she feels her quantum of risk is relatively low At the same time she truely believes in the saying that 'no risk, no gain' is applicable to all the business organisations. Identify and explain the various characteristics of business risk being described in the above paragraph.Images for Sarika is running a organic store under the brand name, 'Earth' in a popular market in Dehradun. She acknowledges that risks in her business cannot be predicted with utmost accuracy as business environment is dynamic in nature. Therefore, it is not possible to predict future events with accuracy like, change in consumer preferences, increase in competition, natural calamities etc. Also, she feels that the risks in business can be minimised, but cannot be eliminated all together. As her business is operated at a small scale she feels her quantum of risk is relatively low At the same time she truely believes in the saying that 'no risk, no gain' is applicable to all the business organisations. Identify and explain the various characteristics of business risk being described in the above paragraph.