Entrepreneur is the person who takes financial risk to build a profitable business with some innovative solution.
In the process of making an enterprise he/she has to perform different activities which is categories into entrepreneurship.
In this process there are different scenario where an entrepreneur has to take different decisions, this can be of how to make team to what should be our next step, to come up with this idea or should leave it whole.
In this various situations, the decision taken by an entrepreneur is known as entrepreneurial decision.
Steps involve in entrepreneurial decision are as follows:
1). What is the present situation.
Analysis of what is the present situation.
2). What are the possible solution for the same.
i.e. what are the different possibilities to solve the problem.
3). Analysing what will be the outcome
i.e. what will be the outcome if a particular possibility is choosen.
4). Choosing the best way
5). Implementing it with best strategy.