Functions of an entrepreneur

  • Management and control, he manages and controls affairs in the process of production by carrying out decisions aimed at the smooth running of the organization.
  • Combining other factors of production, he combines the other three factors of production (land, labour, and capital) in desirable proportions to make production possible.
  • Uncertainty and risk bearing, he risks his capital to risk the uncertainty of the business. At the time of making decisions he is not certain of the possible out-come but accepts to bear the risks and uncertainties that may come with his decisions.
  • Provision of capital, he provides capital which is very necessary in the establishment and operation of any business.
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