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Finance & Accounting
Pages 5 (1255 words)
Running head: Case Study on Operations Case Study on Operations Insert Name Insert Course Title Insert Instructor’s Name 15 December 2011 Case Study on Operations Part I: Insurance and Economic Development Q1. Insurance companies influence entrepreneurial attitude, innovation, and investment in the economy through instilling confidence towards taking investment risks to produce, improve, and increase wealth.
Entrepreneurship generally entails the process where individuals with high aptitude undertake to pioneer change thus producing, improving, and increasing wealth. Such individuals are usually discouraged and held back by the uncertainties and risks that are involved with pioneering change. In this case, insurance companies come in handy to bear the risks involved with pioneering change at a reasonable premium and thus influencing entrepreneurial attitude, innovation, and investment. Establishment of businesses with new ideas is risky to businesses, since it involves pioneering investments into unknown ventures that may turn out to be either a gain or loss. Although there are outstanding entrepreneurs in the society that can bring about huge economic advancements, entrepreneurial capability exists among all human beings and it would therefore collectively build the economy, provided insurance services are availed for the unlimited risks that exist in the business world (Tiwari, 2007, p.171). ...
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