Who is an Entrepreneur? The word entrepreneur has its origin in the French language. An entrepreneur is one who organises, manages and assumes the risks of an enterprise. Enterprise is an undertaking, especially one which involves minimum four factors (i.e. land, labour, capital and entrepreneur) of production as indicated below. An entrepreneur visualises a business, […]

Functions of an Entrepreneur 1. Entrepreneurial Functions 2. Managerial Functions 3. Promotional Functions 4. Commercial Functions These are now discussed in seriatim: 1. Entrepreneurial Functions: The major entrepreneurial functions include risk bearing, organizing, and innovation. Since these are already discussed under the heading 1.2 Evolution of the Concept of Entrepreneur, the same is, therefore, not […]

Entrepreneurs are classified into different types based on different classifications as mentioned below:  Types of Entrepreneurs Based on the Type of Business: 1. Trading Entrepreneur: As the name itself suggests, the trading entrepreneur undertakes the trading activities. They procure the finished products from the manufacturers and sell these to the customers directly or through a […]

Importance of Risk Taking Abilities for Entrepreneurs! Risk can be defined as the possibility of failure or loss or other adverse consequences in pursuing some activity or venture. Risk bearing and entrepreneurship are inseparable from each other. Risk, as an attribute, affects entrepreneurial behavior. It is, among other things, the element of risk involved in […]

3 Main Financial Instruments This article throws light upon the three main financial instruments. They are: 1. Euro Notes and Euro Commercial Papers 2. Banker’s Acceptance and Letters of Credit 3. Repurchase Agreement. Financial Instrument # 1. Euro Notes and Euro Commercial Papers: Both Euro notes and Euro commercial papers are short-term instruments, unsecured promissory […]