A successful businessman should be calculative in taking a risk. He should be prepared to face challenges and look for opportunities in every adverse situation of the business. He should be self-confident to achieve his organizational goals. He should always keep himself confident and motivated to face various obstacles and come out victorious every time in every challenge he faces. A businessman has to undertake many risks including fall in prices, changes in fashion, earthquake, etc. All these risks cannot be insured with insurance companies. A risk that cannot be insured against and measured is called uncertainty. A businessman buys factors of production at certain prices to combine their contributions into the products and then sell those products at uncertain prices in the future. Thus, a Successful businessman takes a calculated risk.
