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Entrepreneurship Introduction, elements and functions

We all know what entrepreneurship is. But we might not be aware of its functions and elements. We are here discussing the elements and function of entrepreneurship in detail.

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Entrepreneurship Introduction, elements and functions

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  1. ENTREPRENEURSHIP: INTRODUCTION,ELEMENTS ANDFUNCTIONS

  2. Introduction Elements of Entrepreneurship FunctionsofAn Entrepreneur KeyRolesofan Entrepreneur Contents

  3. Entrepreneurshipistheprocess of forming a new business through proper medium with anaspirationtogetmoreprofit and earn money. It is the processinwhichtheindividual bears all the risks, losses with anaspecttomakeprofit. INTRODUCTION

  4. Entrepreneurship Innovation An entrepreneur is believed to be the originofinnovation. One of the main element for an entrepreneur to be successfulisinnovationandvariation. An entrepreneur focuses on creating newandvariantproductsandservices toattractconsumers. Elementsof

  5. Entrepreneurshipcomeswiththerisk.Itisimportantforan entrepreneurtoknowhowtotakeandmanagetherisk.Also, anentrepreneurneedstoanalyzeandbepreparedtobearall therisks. Organization Entrepreneurship cannot be successful without the Organization. There must be a legal organization for your businessandanentrepreneurshouldknowhowtomanage the activities, finances, resources and employees of the organization. RiskTaking

  6. Vision is the foremost and the most important element of entrepreneurship.Aclearvisionhelpsthebusinesstoacquire moreprofits.Anentrepreneurshouldbeclearwiththeiridea onwhichtheyarestartingthebusiness. DecisionMaking The entrepreneurship process involves taking complete decisionsforthebusinesswithaviewtoearnprofitsandbear risks. A successful entrepreneur takes all the decisions by consideringalltherisksandopportunities. ForesightorVision

  7. Administrative/Decision-Making Functions Administrativefunctionsinvolvesallthe tasks and decisions that directly and indirectly affects the activities of the organization. Itinvolvesthethoughtof startingthebusiness, innovation and variationandtheanalysisofriskand opportunity. FUNCTIONSOFAN ENTREPRENEUR

  8. Everybusinessinvolvessomesortofrisks.Startingabusiness initselfisriskyifyoulackspecificskillsandarenotreadyto bearalltheuncertaintieslikelytoarrivefurther.Hence,risk- bearingisthemostspecificandimportantfunctionofan entrepreneurship. DistributiveFunctions Asanentrepreneuristheineresponsibleforalltheactivities andtasks,he/sheisalsoresponsibletoallotspecifictasksto theemployeesandthedepartmentforasmoothrunningof theorganization. RiskBearingFunctions

  9. KeyrolesofanEntrepreneur 01 InitiatingBusinessTasks 02GeneratingjobResponsibility 03 04 06 AssigningEmployeesResonsibility Recognizingbusinessopportunities 05 DiminishingBusinessRisks GeneratingandManagingWealth 07 EnhancingLivingStandards

  10. +61280113341 +61280113341 support@assignmentachievers.com www.assignmentachievers.com US: Contact

  11. THANKS FORWATCHING

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