It is the basic managerial function of an entrepreneur. It helps in determining the course of action to achieve various entrepreneurial objectives. Planning is concerned with the mental state of the entrepreneur. It is decision making in advance: what to do, when to do, how to do and who will do a particular task.

Every business enterprise needs the service of a number of persons to look after its different aspects. The entrepreneur sets up objectives or goals to be achieved by its personnel. The function of organising is to arrange, guide, co-ordinate, direct and control the activities of the factors of production.

The function involves making appointments for the positions created by the organisational process. It is concerned with human resources: manpower planning, recruitment, selection and placement of manpower, human resource development, promotion, transfer, appraisal and determination of employee's remuneration.

Control is the process which enables the entrepreneur to get his/her company's policies implemented and take corrective action if performance is not according to predetermined standards. Process: (1) establishing standards of performance, (2) measuring actual performance, (3) comparing actual with standard, (4) finding variations, (5) taking corrective action.