KALYAN CITY LIFE

Sharing Wisdom and Vivid Memories of Life

About

Kalyan City is a fast emerging residential township in the Thane district of Maharashtra state, India. It is a central suburban town and resides 54 kms north-east of Mumbai. This blog regularly shares quality academic materials. Here we also document our unique experiences and vivid memories of life. Read our lucid informative articles to excel your understanding, knowledge and success.

Team

Articles published on Kalyan City Life blog are inspired from our work experience, field research, study of various good books and papers, seminars and consultations from subject scholars. Our unique collection of useful study notes is an outcome of a team effort and hard work of Gaurav Akrani, Prof. Mudit Katyani and Manoj Patil.

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What is Entrepreneur ? Meaning Qualities Skills of Entrepreneur



square What is Entrepreneur? Meaning


The term 'Entrepreneur' has been derived from a French word 'Entreprendre' meaning to undertake certain activities. Normally, entrepreneur has to perform two types of functions which are explained here with the help of pictures given below.


entrepreneur meaning


Factors of production viz. land, labour and capital are scattered at different places. All these factors have to be assembled together. This work is done by enterprise through entrepreneur. This is an 'Organization Function'. Organization function is the work of bringing the required factors together and making them work harmoniously.


Qualities Skills of Entrepreneur


Entrepreneur has to bear risks and uncertainties. For facing uncertainties he may get profit or may incur loss. This is the 'Risk Bearing Function' and entrepreneur is the risk bearer.


square Qualities / Skills of an Entrepreneur


To be a successful and ideal entrepreneur, one should have certain qualities or skills as given below :-

  1. Ability to organize : He should be able to organize various factors effectively. He has to understand all the aspects of the business.
  2. Professional approach : He should be objective and professional in approach.
  3. Risk bearer : He should be risk taker. He should be ready to bear risk and uncertainties.
  4. Innovative : Organiser should be innovative. He should adopt modern techniques of production. He should not be reluctant to changes.
  5. Decision Making : One has to take right decision at a right time by showing his promptness. Quick decisions are expected but hasty decisions shouldn't be taken. Delay in decisions may increase cost of project and reduce the profits.
  6. Negotiation skills : Businessman regularly comes into contact with various persons like consumers, workers, government officials, etc. so he should communicate tactfully.

square Articles on Entrepreneur


  1. Functions of Entrepreneur.
  2. Features of Entrepreneurship.




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2 Comments :

  1. anandrajusa said...

    entrepreneur is one who have brave heart and mind and stomach like component of its . he has a lot of risk bearing capacity.

  2. Anonymous said...

    Entrepreneur is person take decision alone,negotiations and same time doing professional approach

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