Function of Entrepreneur

8/7/2019 Function of Entrepreneur

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FUNCTION OFENTREPRENEUR

BY

SHWETA GOEL


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FUNCTION OF AN

ENTREPRENEUROrganizational function : An organizer mentally first of all decides

certain things like what, how, and howmuch to produceHe decides the location of the industry,scale of production and estimates theavailability of raw materials, labor, capitaletc.


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R isk bearing function :Undertakes risksand uncertainties.

Management : The entrepreneur is alsoresponsible for the management of business. He tries to have a least costcombination of factors of production.


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CONT

Innovation function :An entrepreneur must bean innovator to survive in the marketPlanning of the project : He Plans and launchthe project and program the structure of business.Sale of Products : An entrepreneur is also

responsible of marketing, advertising. He wantsto maximize his profits by selling his product inthe market.


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CONT.D istribution of R ewards : He isresponsible of distributing the rewards toall factors of production.


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CONT..

AN EXAMPLE


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W ALT DISNEY

The Man Behind the Mouse


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AB OUT H IM

The hundreds of animated cartoons,countless feature films and endless

toys that bear his nameDisney went from sketching a rabbit

(yes, a rabbit) to running a multi-

billion dollar empire


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Disney was born in 1901 in ChicagoThe Disney brothers produce a seriesof black-and-white cartoons featuringa rabbit named Oswald


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Entrepreneurial Spirit:D isney produce a silentcartoon called Plane Crazy that featured a newcharacter named Mickey Mouse .Steamboat W illie , releasedin 1928 , was the firstanimated film to feature

synchronized soundThey licensed MickeyMouse's image for a fee of $300.


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CONT..D isney became fixated on using thenewest technology for his films.He obtained exclusive rights to use

Technicolor in animated films for twoyearswinning his first A cademy A ward in

1932 for the animated short Flowersand Trees , which was also the first full-color cartoon.


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During the next few years,Goofy, Donald Duck andseveral other memorablecharacters joined Mickey.Released Snow White and the Seven Dwarfs in 1937

It was the first feature-length animated movie tobe produced in Technicolor


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Growth of the CompanyThe brothers built a studio inBurbank, Calif They employed more than 1,000people, including animators

Building on the success of Snow White , Disney releasedPinocchio and Fantasia in 1940,Dumbo in 1941, and Bambi in

1942.It also produced short comediesaimed at boosting nationalmorale.


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To raise additional money, Disney took hisoperation public in 1940

I n 1944 it did re-release Snow White intotheatersThis would begin a common strategy of re-releasing films about every 10 years


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The next big animated film came in 1950,with the release of C inderella


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Diversification:

Treasure Island , released in 1950, was thestudios first live-action film,

The company formed Buena Vista Distribution a

few years later With its own in-house distribution company,Disney could continue to churn out movies whilesignificantly saving on distribution costs.

As the company grew, Disney diversifiedproduction beyond cartoons and animatedmovies.


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CONT.

Disney's TV debut came around the sametime as Treasure Island

The popular Mickey Mouse Club debutedas a TV series in 1955.


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TV program that began in 1954, calledDisneyland , that showed Walt Disney hadeven bigger plans for the company.

Disney established WE D E nterprises asa separate company

Draws up plans for Disneyland, a giant

theme park.Disneyland opened in 1955 as a themepark unlike any other the world had seen


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Plans for a second park, which ultimatelybecame Walt Disney World , began withthe acquisition of land in Florida in the1960s


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Function of Entrepreneur

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