Functions of entrepreneur

Functions of entrepreneur :


         1. Risk assumption function
         2. Business Decision-making Function
         3. Managerial function
         4. Function of innovation



1. Risk assumption Function :

            An entrepreneur has to necessarily act as a 'risk-bearing' agent of 
            production since he has to bear a greater amount of production
           since he has to bear a greater amount of uncertainties in business.
           The term uncertainty refers to more than an ordinary risk.

2. Business Decision-making Function :

                He has to decide the nature and type of goods to be produced,
                the size of the business, its location, technique of production
                etc. A successful entrepreneur is one who takes sound decisions
                at the appropriate time so that his business may successs.

3. Managerial Function :

           Managerial Function are nothing but function of coordination, 
           organisation and supervision.


4. Function of Innovation :

          Innovation is an important function of an entrepreneur. In this
         context, one should know the distinction between an investor and innovator.


Tags : Functions of entrepreneur, Entreprenearship development