FUNCTIONS OF AN ENTREPRENEUR.These are the functions performed by anentrepreneur .1.Planning of the project:He is the organizer to conceive the idea of launching the project and to program the structure of business.2.Management:   T h e   e n t r e p r e n e u r   i s   a l s o   r e s p o n s i b l e   f o r   t h e   m a n a g e m e n t of  business. He tries to have a least cost combination of factors of production.3.To Face Risks: He faces uncertainly and bears risks in his business uncertainly comprising those risks against which it is not possible to insure. He also faces therisk of other producers may enter the market.4. Distribution of Rewards: H e i s r e s pons ib l e o f d i s t r i bu t ing the r e wa rds t o a l l factors of production. He pays the reward in the shape of rent, wage, and interestand bears the risk of profit or loss himself.5.Sale of Products: An entrepreneur is also responsible of  marketing, advertising.He wants to maximize his profits by selling his product in the market.6.Scale of Production: H e dec ided the sc a l e o f bus ine ss i n a cco rd ing w i t h t he  p rov i s ion o f cap i t a l . Then , he t akes t he de c i s ion o f w ha t whe re and how to  produce goods.7. Joint stock Organization: I n a pa r tne r s h ip , t he en t r e p reneu r i a l f unc t ions a r ed iv i ded  be tw ee n   the pa r tne r s . Bu t   i n   pub l i c l im i t e d   compa ny ,   t he  boa rd  o f   directors takes this responsibility with nationalized enterprise; the entrepreneurialdecisions are left to the government or a body to which government has delegatedits powers.8.Identifying entrepreneurial opportunity – There are many opportunities in theworld of business. These are based on human needs like food, fashion, education,e t c . ,  wh i ch   a r e   cons t an t ly   chang i ng .  Thes e  oppo r tun i t i e s   a r e   no t  r ea l i s ed  by common man, but an entrepreneur senses the opportunities faster than others do.A n   e n t r e p r e n e u r   t h e r e f o r e ,   h a s   t o   k e e p   h i s   e y e s   a n d   e a r s   o p e n  a n d   r e q u i r e imagination, creativity and informativeness.

 9.Turning ideas into action– An entrepreneur should be capable of turning his ideas into reality. He collects information regarding the ideas, products, practicesto suit the demand in the market. Further steps are taken to achieve the goals in the light of the information collected.10.Feasibility study–  The   en t r e p reneu r   conduc t s   s t ud i e s   t o   a s se ss   t he  marke t f ea s ib i l i t y   o f   t he  p ropose d  p roduc t   o r   se rv i ce s .  He   an t i c ipa t e s   p rob lem s   and a s s e s s e s   q u a n ti t y ,   q u a l i t y ,   c o s t   a n d   s o u r c e s   o f   i n p u t s   r e q u i r e d   t o   r u n   t h e enterprise. Such a blue print of all the activities is termed as a 'business plan' or a'project report'.11.Resourcing

–  The   en t r e p reneu r   needs  va r ious   r e s ou rces i n   t e rm s  o f    money,machine, material, and men to running the enterprise successfully. An essential function of an entrepreneur is to ensure the availability of all these resources.12.Setting up of the Enterprise– For setting up an enterprise the entrepreneur mayneed to fulfil some legal formalities. He also tries to find out a suitable location,design the premises, install machinery and do many other things.13.Managing the enterprise– One of the important function of an entrepreneur is tor u n   t h e   e n t e r p r i s e .   H e   h a s   t o   m a n a g e   m e n ,   m a t e r i a l ,   f i n a n c e   a n d  o r g a n i z e  production of goods and services. He has to market each product and service,after ensuring appropriate returns (profits) of the investment. Only a properlymanaged organisation yields desired results.14.Growth and Development– Once the enterprise achieves its desired results, thee n t r e p r e n e u r   h a s   t o   e x p l o r e   a n o t h e r   h i g h e r   g o a l   f o r   i t s   p r o p e r  g r o w t h   a n d development. The entrepreneur is not satisfied only with achieving a set goal butconstantly strives for achieving excellence.

1. Planning of the project: He is the organizer to conceive the idea of launching the project and to program the structure of business. 

2. Management: The entrepreneur is also responsible for the management of business. He tries to have a least cost combination of factors of production. 

3. To Face Risks: He faces uncertainly and bears risks in his business uncertainly comprising those risks against which it is not possible to insure. He also faces the risk of other producers may enter the market. 

4. Distribution of Rewards: He is responsible of distributing the rewards to all factors of production. He pays the reward in the shape of rent, wage, and interest and bears the risk of profit or loss himself. 

5. Sale of Products: An entrepreneur is also responsible of marketing, advertising. He wants to maximize his profits by selling his product in the market. 

6. Scale of Production: He decided the scale of business in according with the provision of capital. Then, he takes the decision of what where and how to produce goods. 

7. Joint stock Organization: In a partnership, the entrepreneurial functions are divided between the partners. But in public limited company, the board of directors takes this responsibility with nationalized enterprise; the entrepreneurial decisions are left to the government or a body to which government has delegated its powers.