🧑💼 Enterpreneur🧑💼
Enterprneur is a person who has already started or is in the process of starting an enterprise.He is an action oriented,highly motivated individual,who takes risk to achieve goals.Enterpreneurs are the people who have the abilities to see and evaluate business opportunities,to gather necessary resources,to take advantage of them and initiate appropriate action to ensure success.
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●J.B. say,a French economist,has defined an enterpreneur as the economic agent who unites all means of production-land of one,the labour of another and the capital of yet another and thus produces a product.By selling the product in the market he pays rent of land,wages to labor,interest on capital and what remain in his profit.
Types of enterpreneurs
(1) Innovative enterpreneurs:An innovative enterpreneur is one who introduces new method of production,discovers mew goods,penetrates into new markets.Hence such enterpreneurs come up with something new and avoid the already beaten track.
(2) Imitative enterpreneurs:These enterpreneurs follows the path of innovation enterpreneurs.Imitative enterpreneurs do not innovate the changes themselves, they only imitate techniques and technology innovated by others.
(3) Fabian enterpreneurs:These enterpreneurs are very cautious in experimenting any change in their entrrprises.They adopt changes only when they feel that their survival is not possible without this change.Hence such type of enterpreneurs avoid changes till maximum possible.
(4) Drone enterpreneurs:These enterpreneurs are not ready to make changes in their existing production methods even after suffering great losses.
Characteristics of enterpreneur
(1) Initiator:As per the demand of the situation,the enterpreneur takes initiative to start a new enterprise.
(2) Opportunity seeker:The enterpreneur, like a watch log,always remains in search of right business opportunities to convert them into projects and profits.
(3) Calculated risk taker:An enterpreneur is usually a calculated risk taker.He enjoys the excitement of challenges but do not gamble.
(4) Information seeker:He is ready to learn from the experiences of others and enriches his business Information to help him reach the goal.
(5) Persistent: An enterpreneur follows the saying 'try and try again,you will succeed at last.'
(6) Committed to work:An enterpreneur accords the utmost priority to accomplish the work.
(7) Quality conscious:An enterpreneur always put efforts to excel better than the existing standards of performance.
(8) Proper planning:An enterpreneur frames realistic business plans and follows them rigorously to achieve the objectives.
(9) Efficiency lover:An enterpreneur tries to do things at a faster pace so that production cost can be reduced.
(10) self confident:An enterpreneur is a strong believer in his strengths and weaknesses.
Function of enterpreneur
(1) Innovation:An enterpreneur introduces new concept in any branch of economic activity.Innovation means doing new things or doing things that are already being done in new ways.
(2) Risk taking:An enterpreneur assumes the responsibility for loss that may arise due to unforseen contingencies in future. He guarantees rent to landlord,wages to labour and interest to creditors.After making payment to these persons little or nothing may be left for him.
(3) Organisation building:An enterpreneur brings together various factors of production,organises them properly and performs the decision making function of administration.He determines the lines of business,expansion and growth of enterprise.As an organisation builder,an enterpreneur perform planning, co-ordination and control functions.
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