made redundant. 13.
Outplacement is when a company helps people it is
making redundant find new jobs in other organizations.
70
LESSON 9 ENTREPRENEURSHIP (continue)
Judgment helps to make successful decisions. An entre-
preneur needs judgment to speculate on future price move-
ments, as well as to deal with the novel situations.
The demand for entrepreneurs rises in times of political,
social, and environmental change. Supply usually matches de-
mand, so more people give up other careers and become entrep-
reneurs. They have incentives to do so by the higher expected
rewards, and also by increases in the social status of
entrepreneurs.
The supply of entrepreneurs depends also on their perso-
nality, culture, and life experience.
To identify profitable opportunities the entrepreneur synthe-
sizes information from different sources. A good education and
wide – ranging practical experience help the entrepreneur to in-
terpret information. Sociability also helps the entrepreneur to
make contact with people he works with – both customers and
colleagues.
