Managers view

Managers feel entrepreneurs are innovators who come upwith new ideas for products, markets or techniques. According to Peter Kil by an Entrepreneur is one who performsthe following functions: Perception of market opportunitiesGaining command over scarce resources Purchasing inputs Marketing of product & responding to competition Dealing with public bureaucracy (concessions, licenses, taxes)

Management of human relations within the firm Management of customer & supplier relations Financial management Production management Upgrading processes and product quality Introduction of new products

ROLE OF ENTREPRENEURS IN SOCIOECONOMICDEVELOPMENT OF A COUNTRY

Entrepreneurship promotes capital formation by mobilizingthe idle saving of the public. It provides immediate large-scale employment. Thus, it helps reduce the unemployment problem in the country,i.e.,the root of all socio-economic problems. It promotes balanced regional development

 It helps reduce the concentration of economic power. It stimulates the equitable redistribution of wealth, in come and even political power in the interest of the country. It encourages effective resource mobilization of capital and skillwhich might otherwise remain unutilized and idle. It also induces backward and forward linkages which stimulatethe process of economic development in the country. Last but no means the least, it also promotes country's exporttrade i.e.,an important ingredient to economic development.

 Thus it is dear that entrepreneurship serves as a catalyst of economic development. On the whole, the role of entrepreneur ship in economic development of a country can best be put as "an economy is the effect for which entrepreneurship is thecause".