Entreprenuership and Organic Business Function
Name: ogundeinde a.m
Program: business computing
And
Information technology
Course: entrepreneurship
Term paper on: entrepreneurship
And
Organic business function
ENTREPRENUERSHIP AND ORGANIC BUSINESS FUNCTION
Every organisation, be it private or public required individuals to pilot the ship of operation to achieve desired objectives of the organisation.
Entrepreneurship is the activity of an entrepreneur who uses the human capital in combination with other hired inputs to produce goods and service and also receives the residual income.
Also, an Entrepreneur is one who assumes the responsibility and the risk for a business operation with the expectation of making a profit. The entrepreneur generally decides on the product, acquires the facilities, and brings together the labor force, capital, and production materials. If the business succeeds, the entrepreneur reaps the reward of profits; if it fails, he or she takes the loss.
The Austrian-American economist Joseph A. Schumpeter stressed the role of the entrepreneur as an innovator, the person who develops a new product, a new market, or a new means of production and in order to achieve all this functions, responsibilities, and roles, the Entrepreneur needs to organise the following organic business functions;
1. Human resource management
2. Finance
3. Production
4. Marketing.
Human resource management
When we talk about HRM we mean the field of business concerned with recruiting and managing employees
Businesses rely on effective human resource management (HRM) to ensure that they hire and keep good employees and that they are able to respond to conflicts between workers and management.
It is one of the duties of an entrepreneur in collaboration with HRM specialists to determine the number and type of employees that a business will need over its first few years of
Program: business computing
And
Information technology
Course: entrepreneurship
Term paper on: entrepreneurship
And
Organic business function
ENTREPRENUERSHIP AND ORGANIC BUSINESS FUNCTION
Every organisation, be it private or public required individuals to pilot the ship of operation to achieve desired objectives of the organisation.
Entrepreneurship is the activity of an entrepreneur who uses the human capital in combination with other hired inputs to produce goods and service and also receives the residual income.
Also, an Entrepreneur is one who assumes the responsibility and the risk for a business operation with the expectation of making a profit. The entrepreneur generally decides on the product, acquires the facilities, and brings together the labor force, capital, and production materials. If the business succeeds, the entrepreneur reaps the reward of profits; if it fails, he or she takes the loss.
The Austrian-American economist Joseph A. Schumpeter stressed the role of the entrepreneur as an innovator, the person who develops a new product, a new market, or a new means of production and in order to achieve all this functions, responsibilities, and roles, the Entrepreneur needs to organise the following organic business functions;
1. Human resource management
2. Finance
3. Production
4. Marketing.
Human resource management
When we talk about HRM we mean the field of business concerned with recruiting and managing employees
Businesses rely on effective human resource management (HRM) to ensure that they hire and keep good employees and that they are able to respond to conflicts between workers and management.
It is one of the duties of an entrepreneur in collaboration with HRM specialists to determine the number and type of employees that a business will need over its first few years of