Explain more about functional of Entrepreneurs

There has been a great deal of confusion and contradiction in literature on the functions of an entrepreneur. Classical economists considered entrepreneur as the owner of business enterprise to which he supplied capital. No distinction was made between an entrepreneur and the capitalist. But in modern approach corporate ownership is separated from control. Ownership of business lies with shareholders who bear risk but they do not exercise much control over the business activities. Control lies with a small group of insiders known as board of directors. The board of directors bears a little risk and receives a larger remuneration even when no dividend could be paid to the shareholders due to insufficiency of profits. Thus, the classical theory of enterprise fails in the modern corporate world.

Functions
1. Innovations – Entrepreneur is basically an innovator and he introduces something new in the economy.

2.Risk Taker – A Risk situation occurs when the entrepreneur is required to make a choice between two or more alternatives whose potential outcomes are not known and must be subjectivity evaluated. As a risk taker.

3. Decision maker – Entrepreneur as a decision maker and describes the following functions of an entrepreneur.

a. The determination of objectives of an enterprise and the change of those objectives as conditions required or made advantageous
b. The development of an organization including efficient relations with subordinates and all employees
c. Securing adequate financial resources, the relations with existing and potential investors

4. Organization and Management
The entrepreneur may or may not try new combinations or resources and is the final judge in the conduct of his business.
There few functions of organization and management.
a. Planning of an enterprise
b. Coordination, administration and control
c. Routine type of supervision

Difference between Entrepreneur and Intrapreneur

1. An entrepreneur is an independent person who starts his venture and bears full risk of his failure and enjoys the fruit of his success whereas intrapreneur is partially independent and is sponsored by the corporation in which he is working. He is also not liable to bear the losses in case of his failure.

2. An entrepreneur raises the finance from various source and also guarantees their return whereas an intrapreneur does not own the responsibility to raise the capital or to return it.

3. An entrepreneur has no relation with any organization whereas an intrapreneur operates within the organization where he is working.

What is Entrepreneur Growth?

The development of new venture has a greater change of success. The entrepreneurs a new and open field of business. The customers approval to the new products gives them psychological satisfaction and enormous profit. The industrial units are identified as units of high growth, medium and low growth industries.
1. Growth Entrepreneur
2. Super – Growth Entrepreneurs

Explain more about capital ownerships

Private Entrepreneur as an individual or a group of individuals set up an enterprise, arrange finance, bear the risk and adopt the latest techniques in the business with the intention to earn profits, he or the group is called as private entrepreneur or entrepreneurs.

State Entrepreneur as the name indicates, state entrepreneur means the trading or industrial venture undertaken by the state or the government itself.

Join Entrepreneur means the combination of private entrepreneur and state entrepreneur who join hands.

How can drone entrepreneurs

Drone Entrepreneurs are characterized by a refusal to adopt opportunities to make changes in production formulae even at the cost of severely reduced returns. They can suffer loss but are not ready to make changes in their existing production methods.

How can classifieds Fabian Entrepreneurs

Fabian Entrepreneurs are cautious and skeptical in experimenting change in their enterprises, such entrepreneurs are shy, lazy and lethargic. They are imitative by nature but are not determined and also lack power.

How can classified imitative Entrepreneurs

Imitative entrepreneur are characterized by readiness to adopt successful innovaties inaugurated by successful innovating entrepreneurs. Imitative entrepreneurs do not imitate the changes themselves, they one imitate techniques and technologies innovated by others.