General, Marketing

What is my role as an entrepreneur

What is my role as an entrepreneur;?  In order to perform my functions effectively and operate a successful business, as an entrepreneur you have to perform certain roles. These roles are the same as the basic managerial roles which are identified by Henry. They are as follows:

Figure Head Role: The entrepreneur has to act as figure head in the organization, as such; he/she has to perform ceremonial duties. This is done by representing the organization in formal and informal functions.

Leader Role: The entrepreneur has to act as a leader because the entrepreneur is the one who brings other people together in order to create the business. Thus, he/she has to lead the people in the organization by hiring, firing, training and motivating them.

Liaison Role: The entrepreneur has to act as the link between the business and the parties outside the business.

Monitor Role: The entrepreneur acts as a monitor; he monitors both the internal and the external environment of the business constantly.

Information Disseminator Role: The entrepreneur has to act as the organizational representative and transmit information both within and outside the business.

Spokesman Role: The manager has to act as the spokesman of the business; he/she is the person for the business both inside and outside.

Entrepreneurial Role: This is the basic role of the entrepreneur; he/she launches new ideas for the business and bears the risk.

Disturbance Handler: The entrepreneur also acts as arbitrator in situations of conflict so as to maintain organizational harmony.

Resource Allocator: The entrepreneur decides on how the scarce resources of the business are allocated among its competing ends so as to achieve organizational goals and objectives.

Negotiator Role: The entrepreneur has to negotiate on behalf of the business both with the other categories of labour and other outside sources.

Social Roles of Entrepreneur

  • Transformation of traditional indigenous industry into a modern
  • Stimulation of indigenous
  • Job or employment creation in the community.
  • Provision of social welfare service of redistributing wealth and

Economic Roles of Entrepreneur

  • Bearing the ultimate risk of
  • Mobilizing savings necessary for the
  • Providing channel for the disposal of economic
  • Utilizing local raw materials and human

Technological Roles of Entrepreneur

  • Stimulation of indigenous technology in the production
  • Adapting traditional technology to modern
  • Adapting imported technology to local
  • Developing technological competence in self and the workforce through innovation.

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