Explain any four managerial functions of an entrepreneur.
Answers
Four managerial functions of an entrepreneur are as follows :
(1) Organising :
An entrepreneur sets up a goal which is to be accomplish by its employee. Organising means to control the activities of the factors of production i.e guide, co-ordinate , direct etc. so that the group objectives can be accomplished.
(2) Staffing :
It is concerned with employment and human resources. In other words it consists of human resources, manpower, planning , recruitment, selection and placement , development of human resources, etc.
(3) Directing :
It is concerned with carrying out the desired plans . It initiates organised and planned action and ensures effective performance by subordinates towards the accomplishment group activities.
(4) Communication :
It is one of the most important function of an entrepreneur and also a cause of concern if not performed effectively.It has been observed that entrepreneurs spend about 75 to 90% of their working time to exchange ideas, knowledge, feelings, information ,etc with others.
Hope this answer will help you….
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Mehak wants to start a textile unit near Gurgaon. Discuss the commercial function which will require to plan and perform for the same.
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Explanation:
4 Main Functions of an Entrepreneur :- (Explained With Examples)
- The major entrepreneurial functions include risk bearing, organizing, and innovation.