Page 84 - IT 402 v2.0 class 10
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FUNCTIONS OF ENTREPRENEUR

         n entrepreneur performs various types of functions in the society irrespective of its level like:
          Create a new idea for product or service:  n entrepreneur tries new innovative ideas that help to increase
           income.
          Research:  n entrepreneur has to do a lot of exploration before starting a business.  e finalises the idea
           of business only after analysing the strengths  weaknesses  opportunities and threats for the new business
           or enterprise.

          Managing the business:  n entrepreneur plans for the future of its business and accordingly arranges
           raw material  labour and instructs what to do.  e keeps a track to check if the plan is followed properly.
            ntrepreneurs identify the needs and accordingly make plans of execution.
          Organising Resources:  ccording to the need of the pro ect or the business  the entrepreneurs collect
           information and organise the resources which help their ideas to turn into reality.

          Making decisions:  n entrepreneur needs to take decisions everyday. For example  deciding what to
           produce  how much to produce  where to sell and how their products and services  can reach the market
           through advertisement.
          Execution:  fter research and organising resources  entrepreneurs implement their ideas and develop
           products or services keeping price  people and place in mind.
          Public Relations:   business re uires social acceptance by public at large.  ublic relation is important in
           order to maintain a good market and generate a sense of faith and reliability in the business or its products.

          Statutory Obligation:  n entrepreneur has to understand and properly liaison with the government for
           legal compliance in concern with all the stakeholders of the enterprise.
          Divide Income:  n entrepreneur needs to divide invested business money to many groups and spend
           some part of it on buying raw materials  paying rents and salaries.





























           IMPORTANCE OF ENTREPRENEUR

         ntrepreneurship plays an influential role in many aspects. One may think that entrepreneur simply build their
        own entity.  ut they are doing a whole lot more for the local community  state  region and country.




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