Which of the following is NOT a function of an entrepreneur in relation to an enterprise as per Kilby?
Answer & explanation
Correct answer: option 4
The correct answer is option 4- None of them.
Roles and Functions of the Entrepreneur in relation the Enterprise as per Kilby:
Developing Exchange Relationships :
1. Perceiving market opportunities
2. Gaining command over scarce resources
3. Purchasing inputs
4. Marketing of Products and responding to competition
Political Administration :
1. Dealing with public bureaucracy (approvals, concessions, taxes)
2. Managing human relations within the firm
3. Managing customer and supplier relations.
Management Control:
1. Managing finance
2. Managing production
Technology:
1. Acquiring and overseeing assembly of the factory
2. Industrial engineering (minimising inputs with a given production process)
3. Upgrading the production process and product quality
4. Introducing new production techniques and products.