 So ladies and gentlemen, very warm welcome and rise and shine to the module one of six Therese of profit change and risk in relation to profit It's cool variables. Milly G dependent independent bad make up our dependency total. I've got a risk for a profit We need profit the dependency. You can do a good business Risk is the main part risk is the total risk is the cognition risk is the complete holistic design for the Entrepreneurs, I'm Therese may some elige by profit mirror reward. If I'm an entrepreneur The profit is completely my reward Dabara yad karlo care risk johay wo apki totality hey Entrepreneur key totality johay wo uska risk a uska just jokul hey wo risk a uska just johay wo profit Hey, he profit was come out of me. Hey profit was come by product. Hey, don't you have perhaps much day? So let's understand the theories of profit Here the definition of profit has evolved over the year Mani apu josebati mani boh haath sarit dast therese saab ko liye 11-12 Therese ki om ne aur mazit discussions ki Economist ne alak kiya psychology ne alak kiya Iske behavioral scientist ne alak kiya max Weber saab ne Hinduism kya po bhi discussion kiya Pheerona and protests in spi bhi discuss kiya aur madhap ko bhi involve karte we profits ko discuss karte rahe Or entrepreneur key definitions takh pachane ki koshish kar li Obviously a social phenomena hair a social phenomena ko sumajne ki liye. I mean a sumajna oga Example liye letin ji aapar an economic theory proposed by the professor and economist F.P. Hawley states that profit is a reward for the risk taken in the business as I said earlier Acha aap meri definitions ko yaha samjiye ji kul aur joseb. Kul hamara risk hai profit hamara joseb Aur wo hamara joseb hamara byproduct. Then the early French writer J.B. says adopt a different view of profit insisting on a separation of profit from interest and defining the former explicity as wage aap yaha par hum dekhte hain mazid isko dekhne ke liye ki ye theri kis tarf leke jaatiye aur hame change ki tarf leke jaatiye kahaan tak J.B. Klarks ka maine barba zikar kia aur maine aap ko kaha distribution of profitless static state ki baat krte jo main already baat kr chokka. Lekin main mazid define krne ke liye aapka samne rakh haun ki static state wo hain jiske aap ke paas reserves aap ke pade hain aur usweb dekhne liye. Uncertainty nazar nahi aari. Saudia decline majar hain. Uncertainty nazar nahi aari. Middle East decline pa chala gaya lebiya maara gaya. Kuch log democracy ka haath huaay. Kuch log dictatorship ka rasta ban gaya. Koi chis kisi taran chali ghi. Pura Arab state Middle East aap ke samne decline pr chala gaya kahaan rise of Middle East katethe kahaan decline of Middle East kaya rahe. Kahaan aap aap jo hain wo aap Arab Spring ki baat utiye aur waha kahaan militancy ne jaga le lii. Jaan aman hota tha aur maisha to thi thi. Waha militancy ne jaga le lii. Aap je bhi klaks aap aap outline dehte. The first treat of universal phenomena I have already discussed. Then is the second of the static social phenomena. Third is the force of progress. Ne ne necessary study of the force, forces of progress, us forces of progress ki andar hum zara mazeet ghor karte. Ke holla in the agreement with the professor Klak and his follower is defining the profit as residual income. He says is a residual income and as the nature and the basis of the special income connect with the assumption of risk as an excess of payment above the actual value of risk demanded because exposure to risk is exhum but holla insists that the residual income and uncertain income are the interchangeable concept. Bada important baat residual income or uncertain income. Dekhi residual income, jo mujhe confirmation hain, yani meri dependency oil pay, meri dependency thiin cheez wo par hain aur wo fax tari ke se mujhe aaring. Me agar agriculture bhi deta ho, uske andar perishability aajagi, meri manufacturing hain to demand and supply aajagi. Dekhi meri oil hain to confirm hain, logon ne lena hi lena hain. So meri residual me fark hain aur uncertainty hain aur cheez ki andar hain aur supply and demand hain aur market change hain aur market forces hain aur pastel analysis hain aur internal and external factors change hain aur SWOT strength, weakness, opportunity, threat jab tak hain aur short analysis associated hain aur uncertainty hain. So, they are interchangeable theories. So, this is how we understand the theories of risk. Now, mitigating risk or to understand the risk, aap yeh summeh lijiye, the entrepreneur is all about risk, managing risk and through how he manage to karna yeh aapne managing unknown sikhna hain. How to understand unknown, managing unknown, when you manage unknown you will manage known and then you will be the entrepreneur and then the master of the risk taking. Thank you very much.