Role of Entrepreneur in Business
What is an entrepreneur? An entrepreneur is a person who knows the current and future needs of an organization and brings new ideas to market. They can be as an innovator, goods, services and procedures. They plays a key role in any economy. It could be a business idea, but it could also be seeing the possibilities in the people that can help you growth that business. This ability to see many options in every situation is critically important.
Entrepreneurship is seeing an opportunities and gathering the resources to turn a possibility into a reality. It represents the freedom to visualize something new and to make it happen. It includes risks, but it also includes the reward of creating a legacy.
Role of Entrepreneur
Entrepreneur plays role in a business as a risk taker. Most of entrepreneur finance by saving and personal effects and if they fail, they will lose it. They take risks of failure. They are not follow only ideas as working situations, but also consider the current risks of these ideas. The risk of money, home, spouse, child, and friend could be adjusted but mental tensions, stress and other mental factors impact them.
A manager is the person responsible for planning & directing the work of a group of individuals monitoring their work and take action when necessary. As a business manager they’ve to change their status from owner to employee. The manager’s approach to the task is formal which is just opposite of them. The major driving force of a manager maintains the existing state of affairs.
They have the ability to identify what products and services customer will want or need in the future and designing products or services to meet those needs. If you employ people leadership will be a key skill. You must be able to motivate your staff in order to get the best out of them and improve productivity. You need to be able to make good decisions, sometimes under pressure. The best business skill has always been a healthy inquiry. This will lead to look into what your competitors are doing.
Economic development doesn’t always translate into community development. Community development requires infrastructure for education and training, healthcare, and other public services. For example, you need highly educated and skilled workers in a community to attract new businesses. If there are educational institutions, technical training schools and internship opportunities, that will help build the pool of educated and skilled workers.