There are many roles and functions of entrepreneur. Some of the major functions performed by an entrepreneur are as follows.
1. Identifying opportunity: There are many opportunities in the world of business. These are based on human needs like food, fashion, education, etc., which are constantly changing.
2. Turning ideas into action: Entrepreneurs must be capable of turning ideas into reality. They should be able to collect information regarding ideas, products and practices to meet the market demand.
3. Resourcing: An entrepreneur needs various resources in terms of money, machine, raw material and workforce to run an enterprise successfully. An essential function of an entrepreneur is to ensure the timely availability of all these resources.
4. Managing the enterprise: One of the important functions of an entrepreneur is to run the enterprise. The person has to manage the workforce, material, finance and organize the production of goods and services.
5. Growth and development: Once the enterprise achieves the desired results, the entrepreneur has to explore another higher goal for its growth and development.
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