Who is an entrepreneur?

Who is an entrepreneur?

An entrepreneur is a person who initiates a new business and bears the risk therein.Schumoeter(1934) defined an entrepreneur as any person who coordinates other factors of production and bears the risk of uncertainty by investing his scarce resources in the business so as to make profit.
Drucker(@964) defined an entrepreneur as a person who searches for change,responds to it and exploits his opportunity.An entrepreneur is a risk taker.Creativity and innovation are vital tools of an entrepreneur

Functions of an entrepreneur
1. The entrepreneur is responsible for the arrangements of his resources.
2. He takes risks associated with his investment.
3. The entrepreneur takes decisions about his investment.
4. An entrepreneur plays important and efffective roles in identifying possible opportunities to be utilized.
5. They also play role in transferring technologies from sources where they are available to where they are needed.
6. He implement innovation in his business.
7. The entrepreneur utilizes his own experience and also experiencs of other successful entrepreneur in other countries.
8. A successful entrepreneur is seen as an efficient manager.

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