Role of Entrepreneurs: Risk & Operational Mgmt

Entrepreneurship notes Entrepreneurs are considered "catalysts" because of three factors: risk, business decisions, and operational management. Risk taking: Entrepreneurs take on all the business risks posed by changes in consumer habits, production processes and new products. Such risks are not insured and the investor has to accept the losses. Therefore, risk and risk is still the most important responsibility of the entrepreneur to make good decisions and try to reduce this venture with knowledge and skills. Business Decisions: Entrepreneurs must decide on the nature and type of business they will do and the type of goods or services to be produced to the customer. Enters a particular business that provides him with the best prospects, produces the product that he thinks will bring him the most profit, and uses the method of production that he thinks is most profitable. Management Operations: Entrepreneurs must do different types of management depending on the size and operation of the business. Management responsibilities include developing production plans, raising funds with suppliers to purchase raw materials and other equipment, setting up factories, appropriate sales, implementations, etc. takes place. Manpower Planning, selection, recruitment and other management. Entrepreneurs often do many important things for the development of society and to meet the needs of citizens. Entrepreneurs can identify opportunities to do business as manufacturers or suppliers. Production requires capital investment and marketing capability versus distribution. Entrepreneurs are willing and motivated to take risks to be successful and to take risks to reap rewards. Considering all factors mentioned above makes the entrepreneur responsible in the business context. Entrepreneurship is an attempt to create value by identifying business opportunities needed to complete the project, managing risk-appropriate opportunities, and integrating the language of connections and management skills, people, money and equipment. The main resources/characteristics of an entrepreneur are: a. Initiative: Goes beyond the demands of the job or situation. Do things before the condition requires or enforces it. The right to expand the business into new areas, products or services. B. See opportunities and act on them: Look for opportunities and act on them. Look and jump at the chance to act. Spend extraordinary time getting the money, equipment, space or other help you need. Hope: Take repeated or different actions to overcome problems. It works when encounters serious problems. Knowledge Discovery Day: Work on your own to get information to help achieve a goal, or to clarify a problem. Do your own research on offering your product or service. Find information as it clarifies a need or need by asking questions. Research, study, or research yourself. Use your contacts or information to get important information. one. Focus on excellence: meet or exceed the standard of excellence. Show others your desire to create good work compared to your own business or your company's business F Contract for employment contract: Assign work to be done or completed. Make personal sacrifices or special efforts to get the job done. Take full responsibility for problems that arise while working for others. Work with or on behalf of employees to complete tasks