Menu Close

What is the most important function of entrepreneur in an enterprise?

What is the most important function of entrepreneur in an enterprise?

Risk-taking is the most important function of an entrepreneur. He has to pay to all the other factors of production in advance. There are chances that he may be rewarded with a handsome profit or he may suffer a heavy loss. Therefore, the risk-bearing is the final responsibility of an entrepreneur.

What are the roles of entrepreneurship in the development of enterprise?

The role of entrepreneurship in economic development is wide as it involves initiating and constituting change in the structure of business and society. Entrepreneurs are driven by the desire to be their own bosses, do what they want to do, and turn passions into profit-making businesses.

What is the relationship between entrepreneur entrepreneurship and enterprise?

An entrepreneur is a person who perceives opportunities, organizes the resources needed Page 6 70 to exploit the opportunity and sets up an enterprise through entrepreneurial activities. The process of setting up an enterprise is called entrepreneurship. An enterprise is a business venture.

What is enterprise in entrepreneurship development?

The process of setting up an enterprise is called entrepreneurship. An enterprise is a business venture. An en- terprise is a business organization that is formed and which provides goods and services, creates jobs, contributes to national income, exports and overall economic development.

What are the importance of entrepreneurship as a student?

Entrepreneurship allows students to learn more than just their chosen field of study, and creates an interdisciplinary environment to work and develop in. The networks and friendships which develop help students to become better connected once they leave university, and help prepare them for long term success.

How is entrepreneurship different from an enterprise & and an entrepreneur?

Entrepreneur and Entrepreneurship comes under business category….Difference between Entrepreneur and Entrepreneurship:

An entrepreneur is a person who has an idea and give shape to it Entrepreneurship is a process which gives shape to the idea.
Business Venture

What are the entrepreneurial duties of an entrepreneur?

1) Innovation: Innovation is the basic function of entrepreneur. As an innovator, the entrepreneur has to introduce new combinations of means of production, new market for product and new sources 2) Risk-Taking: Risk-taking is also the fundamental function of an entrepreneur. It is the specific function of an entrepreneur. 3) Organization Building:

What are the negative impacts of entrepreneurship?

The single largest negative impact of entrepreneurs on an economy is the plundering of resources, which can have a disastrous effect on the environment.

What are the socio economic benefits of entrepreneurship?

Entrepreneurship creates employment. The existence of business activities influences employment.

  • Entrepreneurship improves the quality of life. People need to work in order to survive,attend to their needs,and satisfy their wants.
  • Entrepreneurship contributes to a more equitable distribution of income.
  • Entrepreneurship utilizes resources.
  • What are the traits of entrepreneurship?

    The personality traits of a successful entrepreneur include patience, being meticulous, being thick-skinned, creativity, flexibility, and being adventurous. These entrepreneurial personality traits will help to ensure that an entrepreneur becomes successful in whatever business venture they choose.