The Entrepreneur

The entrepreneur is a human element or factor of production whose foremost functions are to manage the other factors of production and put up with risks.

The entrepreneur intentionally allocates assets from low efficiency to higher efficiency and hence higher output.

An entrepreneur is one who undertakes the jeopardy of investment to produce and market a good or service for financial profits. He or she is very observant and takes benefit from business opportunities that will produce high profits. A sole trader can be an entrepreneur. Partners in a business or a group of shareholders can also be entrepreneurs.

The entrepreneur can be viewed as one who creates a new business in the face of risk and doubt, for the rationale of attaining profits, by recognizing chances and gathering the necessary resources to benefit from them.

The entrepreneur is an insightful investor and takes calculated or considered risks i.e. ones that reduce loss when selecting investment opportunities.

Entrepreneurship is the course of action or the act of managing resources and taking on risk and uncertainty or doubt for the purpose of taking advantage of chances with the aim of attaining profit.