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2. Functions of the Entrepreneur

An entrepreneur needs management skills and has to carry out management activities in order to successfully set up his or her business. Leading, motivating and communicating are important management skills.

Planning, organising and controlling are the main activities carried out by a manager. Firstly, managers set the objectives of the organisation and make plans how to achieve them. Secondly, managers organise. They arrange all the resources in the most suitable way. Thirdly, managers monitor processes and performance. They compare the performance with the targets and make adaptations and corrections in the case of deviations.

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