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“Risk is an essential element of a business.” Do you agree ? If yes, elaborate the statement with proper reason.

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Yes, risk is an inevitable feature of business. A business cannot run without the element of risk. Drucker also stated that risk bearing is an essential element of business. When a businessman decides to produce or purchase goods and services, he anticipates future and calculates risk in advance as all the business activities are planned for future and the future is always uncertain.

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