Question

Explain the role of an entrepreneur?

Answer 1

Entrepreneur is a person one who possesses management skills, strong team building abilities and essential leadership qualities to manage a business.
Role of Entrepreneur:
1. To promote development of Industries.
2. To remove regional disparities by Industrialising rural and backward areas.
3. To help the country to increase the GDP and Pre-capita income.
4. They contribute towards the development of society by reducing concentration of Income and wealth.
5. They promote capital formation by mobilising the idle saving of the citizens and country’s exports.
6. Entrepreneurs provide large – scale employment to artisans, technically qualified persons and work in an environment of changing
7. technology and try to maximize profits by innovations.
8. To enable the people to avail better quality goods at lower prices.
9. This results in the improvement of their standard of living.