Financial crises Essay

It is difficult to deny the incident at times of financial crises more and more people behave no other choice but to become entrepreneurs (Spors & Flanderz, 2009). Due to the maturation unemployment, more and more people simply cannot but use entrepreneurship as the source of wellbeing. The success of such business initiatives depends on how well pertly entrepreneurs atomic number 18 able to evaluate their operational risks.Moreover, given that operational risks are being formed at all levels of organizational performance, entrepreneurs should be exceedingly cautious and attentive toward such risks, and develop effective monitoring systems that would regulate to identify operational risks as soon as they are created. It should be noted, that for a business to be successful it is not enough to apprehend operational risks entrepreneurs should remember that the latter do not account for strategic and reputational issues that are equally important in business.I believe that entre preneurs should hire holistic approaches to business the approaches that cover a broad range of risks and protagonist timely identify and address them. Comparative Advantage It is obvious that proportional advantage is one of the few concepts that drive economic development and take into account countries with additional production stimuli.The case of Turkey (Afsin,Yilmaz & Fahrettin, 2007) suggests that the more country invests in manufacturing the close to successful and cost-efficient products, the more likely it is to gain relative advantage over other countries and to use this comparative advantage as the source of significant pelf. What seems to be true, though, is that the concept of comparative advantage does not cover all benefits the country may use when investing into the most competitive products.Comparative advantage provides countries with an opportunity to use additional profits for the development and improvement of other products. These investment opportunit ies create a var. of comparative advantage cycle, which national manufacturers can continuously use to augment GDP, expand research and development opportunities, and to conquer the growing share of markets.