(c) An entrepreneur performs various functions such as risk-taking, provisioning of capital and organisation of production and day to day conduct of business. Although innovation is an important ‘characteristics’ of an entrepreneur but, it is not his core function. While, an entrepreneur needs to be innovative while planning and deciding upon business activities as to fulfill the public demand but, it is not his duty to innovate new technology or products. Thus, innovation is not a function to be performed rather an essential characteristic of a successful entrepreneur.
