Which of the following is not a function of an entrepreneur?
Answers
Answer:
Explanation:
Which of the following are functions of the entrepreneur?
The four functions of an entrepreneur are – Innovation & creativity, Risk taking and achievement, organization & management and other functions.
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In economics, which of the following is not a function of the entrepreneur?
(a) Risk-taking
(b) Provision of capital and organization of production
(c) Innovation
(d) Day to Day conduct of business
Answer:
Innovation s not a function of the entrepreneur.
Therefore, the option (c) is correct.
Explanation:
- An entrepreneur performs several functions like risk-taking, provisioning of capital and organization of production and day to day conduct of business.
- Although innovation is an essential 'characteristics' of an entrepreneur. But it is not an entrepreneur core function.
- An entrepreneur needs to be innovative while deciding and planning upon business activities as to fulfill the public demand. But, it is not his duty to innovate new products or technology.
Therefore, innovation is a essential characteristic of a successful entrepreneur instead a function to be performed.
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