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  • Edc PDF Unit 1 11

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    Karthikeyan V Mechanical
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    An entrepreneur faces uncertainty in business decisions and risks, coordinates resources to achieve targets, and performs key functions like risk-taking, decision-making, and organizing resources. The future is unpredictable, so the entrepreneur must take on uncertainty in decisions that could lead to profit or losses and coordinate allocated resources to meet business goals through their role in organizing production and determining product offerings.

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    An entrepreneur faces uncertainty in business decisions and risks, coordinates resources to achieve targets, and performs key functions like risk-taking, decision-making, and organizing resources. The future is unpredictable, so the entrepreneur must take on uncertainty in decisions that could lead to profit or losses and coordinate allocated resources to meet business goals through their role in organizing production and determining product offerings.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    9 views1 page

    Edc PDF Unit 1 11

    Uploaded by

    Karthikeyan V Mechanical
    An entrepreneur faces uncertainty in business decisions and risks, coordinates resources to achieve targets, and performs key functions like risk-taking, decision-making, and organizing resources. The future is unpredictable, so the entrepreneur must take on uncertainty in decisions that could lead to profit or losses and coordinate allocated resources to meet business goals through their role in organizing production and determining product offerings.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Facing Uncertainty : An entrepreneur is a person who faces uncertainty.

    The future is
    uncertain. So the decision of entrepreneur affects the profitability and reputation of the
    enterprise.
    Coordination : An entrepreneur must have a coordinator. He allocates the resources and
    utilizes the resources for achieving the target. Without coordination an entrepreneur cannot
    achieve the target.
    Functions of Entrepreneur An entrepreneur has to perform the following function:
    Risk taking and Uncertainty Bearing : The future is unpredictable. The entrepreneur has
    to take risks in these circumstances. If the venture succeeds, the entrepreneur profits; if it
    doe not, losses occur. Thus, taking risks forms an important entrepreneurial function.
    Taking Business Decisions : All decision concerning business are taken by the
    entrepreneur. He has to formulate an action plan regarding the product and quality of the
    product to be produced. He has to evolve the best possible method of production which
    would earn him a sizeable profit.

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