Enterprise is an organization that undertakes various activities and an entrepreneur is always determined to take the risk. In enterprise people always work in a group together to achieve the desired goal and objective towards manufacturing for production, innovation, and betterment, selling the product in the market, and looking for better market and growth of the organization. An enterprise always works for the manufacturing of goods as well as services using necessary resources like raw material, manpower, and capital. The enterprise works with the ultimate objective of entrepreneurial growth and development.
Characteristics of an Enterprise
Enterprises are classified in accordance with their size, the volume of production, resource use, and involvement, return from the operation, etc have been broadly categorized into different types of industry like — Micro, Small, Medium, and Large. The characteristics of enterprises may be broadly noted as below:
- Involvement of capital
- Use of assets
- Engagement in different activities
- Managed meeting required objectives and
- Effort for growth and development
- Turnover, sales, and profits
- Selling the output in perspective gives the best return
- Setting trend
- Easy accessibility to funding with preference to institutional fund
- Creating market demand for the product through different promotional means
For citing this article use:
- Islam, S. (2018). Role of loans from public sector banks in financial performance of micro small and medium enterprises msme An analytical study in districts of Medinipur east and west.