What is Entrepreneur? Meaning
The term 'Entrepreneur' has been derived from a French discussion 'Entreprendre' important to undertake for certain activities. Normally, entrepreneur has to perform 2 types of functions which are explained hither alongside the aid of pictures given below.
Factors of production viz. land, labour together with uppercase are scattered at dissimilar places. All these factors lead maintain to locomote assembled together. This piece of occupation is done yesteryear company through entrepreneur. This is an 'Organization Function'. Organization role is the piece of occupation of bringing the required factors together together with making them piece of occupation harmoniously.
Entrepreneur has to demeanour risks together with uncertainties. For facing uncertainties he may larn net or may incur loss. This is the 'Risk Bearing Function' together with entrepreneur is the opportunity bearer.
Qualities / Skills of an Entrepreneur
To locomote a successful together with ideal entrepreneur, 1 should lead maintain for certain qualities or skills every bit given below :-
- Ability to organize : He should locomote able to organize diverse factors effectively. He has to sympathise all the aspects of the business.
- Professional approach : He should locomote objective together with professional person inward approach.
- Risk bearer : He should locomote opportunity taker. He should locomote cook to demeanour opportunity together with uncertainties.
- Innovative : Organiser should locomote innovative. He should adopt modern techniques of production. He should non locomote reluctant to changes.
- Decision Making : One has to lead maintain correct determination at a correct fourth dimension yesteryear showing his promptness. Quick decisions are expected simply hasty decisions shouldn't locomote taken. Delay inward decisions may increase toll of projection together with trim back the profits.
- Negotiation skills : Businessman regularly comes into contact alongside diverse persons similar consumers, workers, authorities officials, etc. together with thence he should communicate tactfully.
