FUNCTIONS AND NEED FOR DEVELOPING ENTREPRENEURSHIP

An entrepreneur plays important role in developing nation’s economy. Following functions may be listed:
(i) Prime-mover of economy
(ii) Management of business venture
(iii) Decision making
(iv) Location of plant site and decisions regarding product and production
(v) Organization of business
(vi) Management of supply-chain, which includes customer and supplier-relations.
(vii) Innovations in business strategy.
(viii) Bringing finance into business and arrangement of material, machinery and man-power.
(ix) Personnel decisions
(x) Dealing with Government bureaucracy, tax department, electricity and other personal-relation activities.
(xi) Pricing decision making
(xii) Overall coordination of a business venture.