Entrepreneurs are those who are different from others. They are different from others because they have a different mindset and they do many different functions from others.
In entrepreneurship, the functions of an entrepreneur play a very important role because this is also a reason why entrepreneurs are different from others.
We have discussed 10 important functions of the entrepreneur in details in this article.
10 Main important functions of the entrepreneur:
- Identifying opportunities
- Risk-taking
- Decision maker
- Innovation
- Social responsibility
- Good public relations
- Managerial roles
- Sharing experience
- Economic development
- Future of the Business
Detailed Explanation
1. Identifying opportunities
Entrepreneurs are those who always search for new opportunities. They always search for new opportunities which are good for all. They love to find new opportunities and work on them.
Because of the creative mindset, they easily find and identify good opportunities. They work on good opportunities and do good for all by working on those opportunities.
2. Risk-taking
Entrepreneurs were never afraid of taking risks. They take risks everywhere. They take the risk of trying new things for there business which is good for others and their business also.
Entrepreneurs take risks according to market changes. They use their experience and take risks to improve things. They always take risks to try new things.
Example: They try new raw material for there products to make the product better.
3. Decision maker
Entrepreneurs are decision-makers. They make decisions very well because they know that their decisions will affect their business much.
They make decisions like how much quantity will produce, how to sale, etc. They take decisions of productions, management, etc there decisions mainly affect their business.
They use there mind very well at the time of taking decisions for their business.
4. Innovation
Entrepreneurs always innovate new things by trying new things. They have a creative mindset and they use it very well for new innovations.
They innovate new things by doing experiments like new productions technique, adding new material in products.
They try new things and innovates new things by using their own techniques.
5. Social responsibility
Entrepreneurs always give priority to their social responsibility. Because they know that society is giving them an opportunity.
So they have to also give something back to society. For performing their social responsibility they generate employment, opportunities for society. They work much time as a social worker for society.
6. Good public relations
Entrepreneurs also have to make good relations with the public. Because their final consumers were also public. They always create relations with the public this generates the trust of the public on them.
Good public relations give many benefits to them because when they make good relations with public they get big support of the public to grow there business also.
7. Management roles
The main function of an entrepreneur is to manage their business. Managing a business is a big factor in the growth of business.
Managing a business is a tough task and entrepreneurs performs it very well. They have to manage all departments of business very well. They have to manage production, sales and every department of business because entrepreneurs are the leader and they have to lead the whole organisation.
8. Sharing experience
This function is very important because it plays a very good role in entrepreneurship because when an entrepreneur shares his/her experience with others than it effects good on others because they learn new things.
When one entrepreneur shares his experience with others that time other people learn many things about entrepreneurship.
9. Economic development
Entrepreneurs play a very important role in the economic development of the country. Entrepreneurs establish their business in many sectors and places in the country.
They grow their businesses in good and profitable sectors and with this economy of the country also increases.
10. Focus on the future of business
Entrepreneurs mainly focus on the satisfaction of customers and on the customer base. With these points, they have to also work on the future of there business.
They have to grow there business so they can also do good in future and also satisfy their customers in future.
Conclusion
In entrepreneurship, the entrepreneur has to play many important role or functions to stay in it and to make their future. Some of the important function we have discussed above.
These functions are important to do in entrepreneurship by entrepreneur because this is necessary to be a good entrepreneur.
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