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Question
'An entrepreneur is an organiser but an organiser need not be an entrepreneur'. Explain.
Answer in Brief
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Solution
- An entrepreneur is a person who organises the business and bears the risks involved in it. In the case of small-scale production, business is organised by the entrepreneur.
- But in the case of a joint stock company, the function of the organiser is performed by the board of directors and the salaried managers.
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