Chan Hong Yu TP070216

 The good ideas in business usually comes from observing our environment and surroundings. When we observe the ordinary life going on around us, we will see the needs of the people around us. After seeing it, we would start thinking about ideas that can help solve their problems. The solution would be viable for most of the people as the issue is faced generally by everyone. We can have more good ideas by asking issues or difficulties faced by the public in their real life, and at the same time, ask for their suggestion on what they would do to solve the problem. After gathering different opinion from people, we can merge all of these opinion from different perspective of view and come up with an optimum solution which would be able to solve the problem faced by the majority in a way that would be easily accepted. 

 Risk management refers to using evaluation or analyzing past results or outcome to minimize the loss or the chance of unfortunate events from happening in the future. The concept is beneficial for companies because it can ensure that the decision made will have a higher chance to benefit the individual or company. Tools that can be used to help manage risk can analyze the strength and weakness in a provided proposal, and determining the best decision or action to be taken. Besides that, these tools can also be used to analyze past behaviour and the outcome produced and provide a moderate solution which lost is minimized. As an entrepreneur, risk can be managed by using deep learning machines to analyze crucial data so that we can make a business decision which would reduce the chance of us losing money. Besides that, we should not make impulsive decisions and be more alert and careful while making decision.