Research Of Entrepreneurial Risk Assessment System In Water Jetting Industry

As the development of industry transformation and social employment problem,central and local government claim abundant policies to cultivate circumstance and activate entrepreneurship,with expectation to solve several economic problems.Private small µ business take up the majority of new ventures,however,start-up companies are still in high percentage of failure.How to reduce entrepreneurial risk and increase successful entrepreneurial cases become critical topics for entrepreneurship research.Water jetting is a kind of industry which generate high pressure water from ordinary water in order to do cleaning and cutting jobs,widely used in oilfield,petrochemical refineries,municipal projects,ship repairing yards and etc.It composes a complete and concentrated supply chain,from part supplying to end users.There are a large number of micro startup companies in this industry,whose entrepreneurs survive successfully under abundant objective restraints,including low education background,no professional management team,insufficient cash flow.It is a valuable study why and how they survive.In this essay,first of all,it introduces the application,layout of venturing companies,as well as the features of entrepreneurship in this industry,and analyze the risks in different aspcts.There are perception citations from different entrepreneurs against same risk.seven entrepreneurs were interviewed and shared their true venture stories and opinions.The interviewees are owners,senior managers,share holders,or co-partners,all of them are located in final decision making team.The interview topics are designed in advance,starting with simple questions and get the first-hand data,then convert into paper work.These data are coded in three times by the way of constructive principle,and finally come out with a risk assessment system model in water jetting industry.Based on the assessment of all these interviewees,it is concluded into an overall assessment value for each coded risk.By score comparison between certain respective assessment with the overall assessment,it is found entrepreneurs may overestimate and underestimate certain risk.It is necessary to perceive comprehensively all kinds of risk in this industry,in order to make reasonable decisions.Finally the author issues a risk control proposal based on innovation from three aspects according to the features of this industry.