functions of an entrepreneur who is an entrepreneur

1. FUNCTIONS OF AN
ENTREPRENEUR
FARAHA LUGMAN
MA 41 & 42
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2. CONTENTS
• Who is an entrepreneur?
• The functions of an entrepreneur
• Conclusion
• References
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3. Who is an entrepreneur?
• An entrepreneur is someone who establishes a new entity to
offer a new or existing product or service into a new or
existing market, whether it is for a profitable or non-profitable
outcome.
• An entrepreneur is one who always searches for changes
responds to it and exploits it as an opportunity
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4. Functions of an entrepreneur
• Personal initiative :
An Entrepreneur who has strong personal initiative is
able to act immediately on available opportunities and
choose best strategy when he faces a problem.
Initiative allows an Entrepreneur to be alert and
proactive.
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5. • Persuasion;
• Entrepreneur is persuasive and will be able to persuade his
customers to buy his products or services.
• He has to persuade many people who have an impact on his
business such as staff, customers, suppliers and financial
institutions.
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6. Identify opportunities:
• grabs or seize opportunities continuously to make sure that his
business sustains for a long time in the industry.
• focuses, identifies and exploits business opportunities.
• maximizes his thinking capacity by finding solutions to
problems faced by community.
• who is successful will be confident that there is a business
opportunity behind every problem.
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7. • Feasibility study:
• able to seek information, that is he has done some
research to obtain information and received feedback
from customers in order to provide a good product or
service that can gain customers satisfaction and
acceptance.
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8. • Planning:
• for arranging business strategies to achieve bussiness goals.
• always focuses on the future and is sensitive towards any
change that occur.
• not be greedy or slow in reacting when an problem emerge. If
he does not have expertise in making decisions, he will
consider sourcing skilled expertise from outside the company.
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9. • Risk bearer
• Should necessarily act as a risk bearing agent of
production since he has to handle a greater amount
of uncertainties in business
• Risk due to the possibility of changes in the taste of
customers, change in fashion and technique of
production cannot be insured
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10. • Decision making
• An entrepreneur has to decide the nature and type
of goods to be produced, the size of the business, its
location, technique of production, type of employees
etc.
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11. Conclusion
• They are doers, not thinkers
• They are born, not made
• They are always inventors
• Ignorance are bliss
• Extreme risk takers
• Work hard to get noticed
• Seek success but experience high failure rates
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12. REFERENCES
• http://www.slideshare.net/ShivaliGupta3/the-
entrepreneur-46860985?qid=da742d45-813c-
4156-81f4-
8f544ed09f3d&v=default&b=&from_search=5
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13. ANY QUESTIONS?
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