2 discussion responses. 250 words each reply. apa.

Reply to each essay demonstrating related knowledge. Each reply must include 1 Scripture reference and at least 1 scholarly source all in current APA format. Each reply must be 250 words.

Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?

1. The relationship of businesses’ profit to risk assumption

Since the business environment is constantly changing, starting a new business comes with huge risks. “Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable.” (Nickels, McHugh, & McHugh, 2019, p.5). Professor and economist F.B Hawley states that profit is the reward of risk taking in business and that the higher the risk, the greater the potential financial reward for the business owner. New and older businesses both have potential risks that should be assessed frequently, and steps should be taken to reduce them. A loss occurs when a business’s expenses exceeds its revenues. It is important to estimate the probability of financial loss in various situations.  Risk assumption is when an entrepreneur assumes the financial burden of a business loss.

“Profit is money a business earns above and beyond the money that it spends for salaries and other expenses.” (Nickels, McHugh, & McHugh, 2019, p,4). “Profit is the reward for uncertainly-bearing and not of risk-taking in a business”. (“Theories of Profit/Role of Profit in the Operation of a Free Economy,” n.d.) Profit is simply the money you have left over after paying all your expenses. Not all businesses make the same amount of profit each year. In most cases, those who take more risks end up making more profit. It is important to assess all risks carefully, before starting new ventures.

“Risk management is the process of identifying, quantifying, and managing the risks that an organization faces. These risks include strategic failures, operational failures, financial failures, market disruptions, environmental disasters, and regulatory violations.” (“Risk Management Definition from Financial Times Lexicon,” n.d.). Many companies welcome high-risk situations with the intend to make substantial profits. By employing professionals to secure high profits and putting a risk management plan in place, the business can take on new ventures easier.

The relationship of profit and risk assumption, allows the business owner to take a risk in entrepreneurial activity that could potentially produce a greater profit. My conclusion is that without taking risks, a business cannot truly obtain substantial profits.

2. Entrepreneurship has become increasingly popular with the change in time because of the freedoms that come along with working for oneself.  An entrepreneur is a person who risks time and money to start and manage a business.  A business is any action that provides goods and services to another for a price.  The primary goal for a business is to be able to make a profit.  Profit is the amount of money left over after paying all operating expenses and salaries for all employees, including yourself. (Nickels, 2016, pg.4).  The profit from the business is the owner’s to use however they choose.  Some options include hiring more employees, expanding the business, or just making changes to keep up with the competition.  However, to make a profit, you must be willing to take risks.  The bigger the risk you are willing to take, the more potential you have for a greater profit.

                The relationship between risk and profit are not always the same in every situation.  Some risks you can foresee the outcome and manipulate as needed until you achieve your desired goal, but some risks are not able to be manipulated.  Some risks an entrepreneur takes must be completely blind.  Often, the most potential for profit spurs from risk that are unable to be manipulated.  There are three types of risks that are taken in business: insurable, eternal, and internal.  Insurable risks have a small relationship with profit and are very low risk.  They are essentially what they sound like; risks that are insured.  These risks do not generate a lot of profit.  External risks are risks that cannot be controlled, such as business to business competition.  An entrepreneur must take on these risks to keep customers happy.  Internal risk can be controlled.  (Lohrey, n.d.). 

                The Hawley Economic Theory suggests that profit is a reward for risk, and the bigger the risk, the greater the potential financial reward.  The theory implies that without the relationship between profit and risk, an entrepreneur would have no desire to take risks.  It also works the assumption that without taking risks, there can be no great profit for the entrepreneur. (Lister, n.d.).  However, when taking risks in business we should strive to ensure our risks are ethical.  Yes, the goal is to make a profit, but they should not be made at the expense of your beliefs.  Mark 8:36-37 says “For what shall it profit a man, if he gains the whole world, and lose his own soul?  Or what shall a man give in exchange for his soul?” (KJV). 

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

At 111papers.com, we value all our customers, and for that, always strive to ensure that we deliver the best top-quality content that we can. All the processes, from writing, formatting, editing, and submission is 100% original and detail-oriented. With us, you are, therefore, always guaranteed quality work by certified and experienced writing professionals. We take pride in the university homework help services that we provide our customers.

Money-Back Guarantee

As the best homework help service in the world, 111 Papers ensures that all customers are completely satisfied with the finished product before disbursing payment. You are not obligated to pay for the final product if you aren’t 100% satisfied with the paper. We also provide a money-back guarantee if you don’t feel that your paper was written to your satisfaction. This guarantee is totally transparent and follows all the terms and conditions set by the company.

Read more

Zero-Plagiarism Guarantee

All products that we deliver are guaranteed to be 100% original. We check for unoriginality on all orders delivered by our writers using the most advanced anti-plagiarism programs in the market. We, therefore, guarantee that all products that we submit to you are 100% original. We have a zero-tolerance policy for copied content. Thanks to our strict no plagiarized work rule, you can submit your homework to your professor without worrying.

Read more

Free-Revision Policy

TThis is one of the most cherished courtesy services that we provide to help ensure that our customers are completely satisfied with our finished products. Delivering the best final product to our customers takes multiple inputs. 111papers.com prides itself on delivering the best university homework help services in the writing industry. And, in part, our free revision policy is how we do it. What’s more, all our revisions are 100% free without any strings attached.

Read more

Privacy Policy

Client privacy is important to use. We know and understand just how important customers value their privacy and always want to safeguard their personal information. Thus, all the information that you share with us will always remain in safe custody. We will never disclose your personal information to any third party or sell your details to anyone. 111 Papers uses the most sophisticated, top-of-the-line security programs to ensure that our customers’ information is safe and secured.

Read more

Fair-Cooperation Guarantee

Placing your order with us means that you agree with the homework help service we provide. We, in turn, will endear to ensure that we do everything we can to deliver the most comprehensive finished product as per your requirements. We will also count on your cooperation to help us deliver on this mandate. Yes, we also need you to ensure that you have the highest-quality paper.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency