Question

Enlist four functions of an entrepreneur.

Hint:

Innovation and calculated risk-taking are the hallmarks of a successful entrepreneur.

Answer 1

An entrepreneur performs several functions crucial for business growth and development.
Four key functions are:
1. Innovation: Entrepreneurs innovate new products or services to meet market demands.
2. Risk-Taking: They take financial risks to launch and sustain businesses.
3. Organizing Resources: Entrepreneurs gather and manage resources like land, labor, and capital.
4. Decision-Making: They make important decisions related to production, marketing, and finance.
These functions enable entrepreneurs to drive business success and contribute to economic growth.