Question

Give main heading function of enterprneur

Answer 1

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1 Bearing risk

2 control and management

3 coordination

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Answer 2

Answer:

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Main heading function of enterprneur

• Managerial Functions.

In simple words, management is getting things working with and through others. Different experts have defined term management differently. According to Henri Fayol (1949) who is considered the father of ‘principles of management,’ “management is to forecast, to plan, to organize, to command, to co-ordinate, and to control.”

• Entrepreneurial Functions.

The major entrepreneurial functions include risk bearing, organizing, and innovation. Since these are already discussed under the heading 1.2 Evolution of the Concept of Entrepreneur, the same is, therefore, not discussed here again for the sake of repetition.

• Promotional Functions.

Every intending entrepreneur wants to start the most profitable and rewarding project. The selection of the most suitable business project involves a process. The intending entrepreneur, based on his /her knowledge, experience, and information gathered from friends and relatives, generates some possible business ideas which can be examined and pursued as a business enterprise.

• Commercial Functions.

Once the enterprise is finally established, it starts producing goods or offering services, whichever be the case. Production function includes decisions relating to the selection of factory site, design and layout, types of products to be produced, research and development, and design of the product.