Risk taking

An entrepreneur assumes the responsibility for loss that may arise due to unforeseen contingencies in future. He guarantees interest to creditors, wages to labor and rent to the landlord. After making payment to these persons little or nothing may be left for him.

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Anticipation and Adaptation

At the next level are the business concerns which take a some what intelligent interest in the environment. They continuously anticipate and monitor changes in the environment and take necessary action before environment becomes a threat. they analyses the impact of environment changes on their operations and adopt ways and means to maintain a dynamic equilibrium with the external environment. For instance, Doordarshan launched channel 3 to meet the threat from private channels.

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The Subscription or Association Clause

This clause contains the names and addresses of subscribers to the memorandum. the subscribers make a declaration under their signatures duly attested by a witness that they desire to be formed into a company and agree to take qualification shares, if any. There must be at least seven signatories in case of a public company and at least two in case of a private company.

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