Entrepreneur : Who is an entrepreneur???

An entrepreneur is the agent who buys factors of production at certain prices in order to combine them into a product with a view to selling it at uncertain prices in future

                                                                                                                              -R. Cantillon

Entrepreneur is a visionary who dreams of innovation trough the opportunities in the environment, who converts the dream into reality by assembling factors of production and who undertakes the risk and handles the uncertainties involved in a business venture. An entrepreneur must be a person with technical competence, initiative, good judgement, intelligence, leadership qualities, self confidence, energy, attitude, creativity, fairness, honesty, and emotional stability.

Innovation is the basic function of entrepreneur. As an innovator, the entrepreneur has to introduce new combination of means of production, new products, new market for product and new sources of raw materials. Entrepreneur introduce something new in any branch of economic activity. As an innovator, entrepreneur foresees the potentially profitable opportunity and the tire to exploit it.

Risk-taking is also the Foundation function of an entrepreneur. It is the specific function of an entrepreneur. Risk-taking refers to take responsibility for your loss that may occur due to unforeseen contingencies of the future. An entrepreneur reduces uncertainty in his plan of investment, diversification of production and explanation of enterprise. He is an especially a talented and motivated person who undertakes the risk of an enterprise.

Organisation and management of the enterprise is the main function of an entrepreneur. It refers to bring together the various factors of production. The purpose is to allocate the productive resources in order to minimize the losses and reduce costs in production. All the decision relation to enterprise are taken by entrepreneurs.

An entrepreneur is a starter, a challenger and a driver. Being an entrepreneur is not directly related to having an equity stack in a company or organisation, but instead show a characteristic of a leader and pushes forward and inspires a team to follow. 

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