Describe the rate of enterprenver in production process
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Some of the most important function performed by an entrepreneur are as follows:
An entrepreneur possesses special ability in the modern mechanized and complex production system. He occupies a very important place in production.

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1. To Prepare Plan:
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The first and foremost function of an entrepreneur is to prepare the plan or scheme of production i. e., the scale of production, types of goods to be produced and its quantity.
2. Selection of the Site:
The entrepreneur makes the selection of the site for the factory to be installed. The place should be near the market, railway station or bus-stand. The selection of the place may be near the source of raw materials also. The selection of the place has an important bearing on the cost of production.
3. Provision of Capital:
Capital is required to install a factory or an industry. Capital is required at all the stages of business. It is not necessary that the entrepreneur should invest his own capital. Therefore, he has to trace out a capitalist, to make provision for capital for the investment. He tries to obtain capital at the lowest possible rate of interest.
4. Provision of Land:
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After making provision of capital and selection of site, he has to arrange for land. Land is either purchased or hired.
5. Provision of Labour:
In modern times, different types of labour are required to produce one type of commodity. The entrepreneur has to make provision for labour from different places.
6. Purchase of Machines and Tools:
It is the function of the entrepreneur to purchase machines and tools in order to start and continue the production.
7. Provision of Raw Materials:
It is the entrepreneur who makes provision for raw materials. He purchases the best quality of raw materials at the minimum cost. He also knows the sources of raw materials.
8. Co-ordination of the Factors of production:
One of the main functions of the entrepreneur is to coordinate different factors of production in proper combinations, so that the cost of production is reduced to the minimum.
An entrepreneur possesses special ability in the modern mechanized and complex production system. He occupies a very important place in production.

Image Courtesy : startupshk.com/wp-content/uploads/2013/11/entrepreneurship-networking-advice-1.jpg
1. To Prepare Plan:
ADVERTISEMENTS:
The first and foremost function of an entrepreneur is to prepare the plan or scheme of production i. e., the scale of production, types of goods to be produced and its quantity.
2. Selection of the Site:
The entrepreneur makes the selection of the site for the factory to be installed. The place should be near the market, railway station or bus-stand. The selection of the place may be near the source of raw materials also. The selection of the place has an important bearing on the cost of production.
3. Provision of Capital:
Capital is required to install a factory or an industry. Capital is required at all the stages of business. It is not necessary that the entrepreneur should invest his own capital. Therefore, he has to trace out a capitalist, to make provision for capital for the investment. He tries to obtain capital at the lowest possible rate of interest.
4. Provision of Land:
ADVERTISEMENTS:
After making provision of capital and selection of site, he has to arrange for land. Land is either purchased or hired.
5. Provision of Labour:
In modern times, different types of labour are required to produce one type of commodity. The entrepreneur has to make provision for labour from different places.
6. Purchase of Machines and Tools:
It is the function of the entrepreneur to purchase machines and tools in order to start and continue the production.
7. Provision of Raw Materials:
It is the entrepreneur who makes provision for raw materials. He purchases the best quality of raw materials at the minimum cost. He also knows the sources of raw materials.
8. Co-ordination of the Factors of production:
One of the main functions of the entrepreneur is to coordinate different factors of production in proper combinations, so that the cost of production is reduced to the minimum.
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