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    4.3 FUNCTIONS OF AN ENTREPRENEUR

                The following are some of the essential functions that an entrepreneur must accomplish:

                   • Identifying business opportunities: The world of business presents countless opportunities, rooted in fundamental
                  human needs such as food, fashion, education, and more. The general population is unaware of these opportunities.
                  However, an entrepreneur detects opportunities faster than others. As a result, the entrepreneur must have his or
                  her eyes and ears open at all times. To become an entrepreneur, one must have vision, creativity, and innovativeness.
                   • Putting ideas into action: Entrepreneurs must be able to put their ideas
                  into action. To effectively meet market demands, it is essential to gather
                  comprehensive information on ideas, products, and processes.
                   • Feasibility study: Entrepreneurs undertake feasibility studies to determine
                  the  commercial  viability  of  a  new  product  or  service.  They  anticipate
                  problems and evaluate the number, quality, pricing, and sources of inputs
                  needed to run the business. A 'business plan' or 'project report' is a roadmap
                  of all actions.
                   • Resourcing: To establish a successful business, an entrepreneur requires a
                  variety of resources such as money, machinery, raw materials, and labour.
                  An entrepreneur's primary responsibility is to secure the timely availability
                  of all these resources.
                   • Establishing an enterprise: In order to establish an enterprise, the entrepreneur may need to complete several legal
                  processes. The individual must also strive to identify an appropriate location, design the premises, install machines,
                  and do a variety of other tasks.

                   • Managing the business: One of the most crucial functions of an entrepreneur is to run the business. The individual
                  is responsible for managing the staff, materials, finances, and organising the production of goods and services. The
                  individual must promote each product and service after assuring adequate returns (profits) on investment. Only a
                  well-managed organisation achieves the intended outcomes.
                   • Growth and development: Once the firm has achieved the targeted objectives, the entrepreneur must look for a
                  higher goal for its growth and development. The individual is not satisfied with simply completing a goal, but always
                  strives for greatness.

                4.4 WHAT DRIVES AN ENTREPRENEUR'S MOTIVATION?

                Every human being is born with the desire to create and procreate, as well as to dream and work to realise those
                desires. However, not every human being is capable of dealing with failure. An entrepreneur possesses the ability and
                determination to overcome any obstacles that may arise in their entrepreneurial journey. This individual consistently
                finds ways to pursue their dreams and achieve their goals. Let us learn about some of the qualities that motivate an
                entrepreneur.
                4.4.1 Excellence as a Standard

                An  entrepreneur  continually  aims  for  high  standards  and  seeks  to  achieve  excellence  by  working  hard  and  being
                innovative.
                4.4.2 Uniqueness

                One of the most significant characteristics of an entrepreneur is the ability to be unique in everything he or she does
                and how it is done.

                4.4.3 Concentrate on Long-term Goals
                Long-term goals are those that require an extended period to achieve. Entrepreneurs prioritize what can be accomplished
                in the distant future over short-term gains. The individual will plan and work carefully to achieve long-term objectives.

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