Date Posted: 4/17/2012 2:12:41 AM
Posted By: sashoo Membership Level: Silver Total Points: 382
It is critical that entrepreneurs be able to interpret their roles, and ensure that their businesses are nurtured to maturity.Therefore, entrepreneurs play the following roles in an enterprise:• Initiators of new ideas:Entrepreneurs are crusaders of new ideas. They do not wait for conditions to be perfect to act on new ideas. They act on them and solve obstacles and difficulties as they arise. As a result, entrepreneurs create an advantage for the enterprise over its competitors.• Inquisitiveness:Another role that an entrepreneur plays in the business is the urge to know whatever it is that is happening in the business environment. This upgrades the entrepreneur’s level of thinking and approach to business problems.• Market Management:The growth of business enterprises revolves around identification and penetration of potential markets and the ability to sustain the same. Market sustainability for an enterprise means the ability to compete effectively on the market.• Ability to Remove Blocks and Acceptance:Mental blocks and acceptance inhibit creativity and innovation. These two are the foundations upon which business ventures originate and grow. Some of these blocks are traditional methods and beliefs. An entrepreneur removes those barriers and encourages clear thinking and independence in his or her venture.• Financial Management:An entrepreneur ensures that he has the necessary funds to operate effectively through the budgeting process and control. Entrepreneurs use current market trends to project the enterprise financial needs thereby being able to counter contingencies as they arise.• Operation and General Management:An entrepreneur brings to the business the boldness and enthusiasm required to implement effective decisions that direct and control business operations.• Skills for Coping with Competition:Entrepreneurs are equipped with skills for anticipating, preparing and coping with change and competition thereby increasing the chances of growth and survival of the business enterprise.• Management of Risks:Entrepreneurship involves the taking of calculated risks. The success of a business enterprise depends on the entrepreneurs’ ability to calculate risk, minimize risk, and take the risk.• Financial Management:An entrepreneur ensures that he has the necessary funds to operate effectively through the budgeting process and control. Entrepreneurs use current market trends to project the enterprise financial needs thereby being able to counter contingencies as they arise.• Operation and General Management:An entrepreneur brings to the business the boldness and enthusiasm required to implement effective decisions that direct and control business operations.• Skills for Coping with Competition:Entrepreneurs are equipped with skills for anticipating, preparing and coping with change and competition thereby increasing the chances of growth and survival of the business enterprise.• Management of Risks:Entrepreneurship involves the taking of calculated risks. The success of a business enterprise depends on the entrepreneurs’ ability to calculate risk, minimize risk, and take the risk.
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