Q.Explain the functions of Entrepreneurs.

An entrepreneur conceives a business idea and brings together the resources to realise it while bearing the risk. The key functions are idea generation and selection, planning and objective-setting, raising finance, procuring resources, decision-making, innovation, coordination and management, and risk/uncertainty bearing. ## Functions of an Entrepreneur The entrepreneur is the driving force of a business and is a core topic in TS Inter 2nd-year Commerce; the TS treatment aligns with the NCERT/CBSE commerce curriculum. 1. Idea generation and selection. Identifying a business opportunity, generating ideas and selecting the most promising one after studying the market. 2. Determining objectives and planning. Fixing the aims of the enterprise and preparing a plan (including the project report) to achieve them. 3. Raising finance. Estimating the capital required and arranging funds from own savings, borrowings, banks or investors. 4. Procurement of resources. Arranging the men, materials, machines, land and technology needed to start and run the business. 5. Decision-making. Taking all key decisions regarding what to produce, how much, where and by what methods. 6. Innovation. Introducing new products, new methods, new markets or new forms of organisation to stay competitive. 7. Coordination and management. Combining and directing all factors of production so that the ent …