Entrepreneur example sentences

Successful results in business depend largely upon the ability of the entrepreneurs or the starters of a new business to anticipate problems and solve them with minimum cost.If the entrepreneur is confident that the demand for the proposed product is likely to be good over time and he can arrange the necessary capital for business, he will start the operation at a large scale.The first thing to be decided by any entrepreneur of a new business is the nature and type of business to be undertaken.After the decisions relating to the above mentioned factors have been taken, the entrepreneur can go ahead with actual launching of the enterprise which would mean mobilising various resources, fulfilling necessary legal formalities, starting the production process and initiating the sales promotion campaign.These enterprises range from giant corporations employing a large number of people to single entrepreneur enterprises.We have already discussed above that one's ability to buy commodities comes from the income one earns as labourer (earning wages), or as entrepreneur (earning profits), or as landlord (earning rents), or as owner of capital (earning interests).The decision will be influenced by the customer requirements in the market and also the kind of technical knowledge and interest the entrepreneur has for producing a particular product.The rest of the revenue is the earning of the entrepreneurs and it is called profit.As we have mentioned before, there may fundamentally be four kinds of contributions that can be made during the production of goods and services (a) contribution made by human labour, remuneration for which is called wage (b) contribution made by capital, remuneration for which is called interest (c) contribution made by entrepreneurship, remuneration of which is profit (d) contribution made by fixed natural resources (called 'land'), remuneration for which is called rent.The objective of the entrepreneur is to sell the commodities produced and earn profits.Once the requirement of physical facilities has been determined, the entrepreneur should draw a layout plan showing the arrangement of these facilities.A typical capitalist enterprise has one or several entrepreneurs (people who exercise control over major decisions and bear a large part of the risk associated with the firm/enterprise).The production of final goods employs factors such as labour, capital, land and entrepreneurship.The need for funds arises from the stage when an entrepreneur makes a decision to start a business.After producing output with the help of these three factors of production, namely capital, land and labour, the entrepreneur sells the product in the market.