Main Functions Of Entrepreneur

 WE HAVE ALREADY  READ THAT ENTREPRENEURS PERFORM MULTIPLE FUNCTIONS IN THE SOCIETY . LET US NOW UNDERSTAND THE FUNCTIONS OF ENTREPRENEUR.

• Decision - Making:- The primary task of an entrepreneur is to decide policy of production. This includes taking vital decisions related to purchasing and sale of the finished goods and services.
• Management Control:- The entrepreneur is responsible for the management and control of his business. Therefore, he must possess good management skills and select the right type of people work with him.
• Risk:- Taking and Uncertainty Bearing:- Risk Taking is perhaps the most important function of an entrepreneur . Estimating the production is risky as an entrepreneur is required to produce goods and services foreseeing their future demand. 
• Innovation:- Another important function of the entrepreneur is to innovate continuously - new products , new techniques, discover new markets - to get the competitive advantage to grow and adapt the business according to the demand and current trend.
• Division of Income:- Another important function is to make necessary arrangements for the division of the total income among the different factors of production . Even when the business owner faces a loss in business, he has to pay rent, interest , wages, and other contractual incomes  out of the realized sale proceeds.