Characteristics of successful Entrepreneur
·
Capacity to take risk
·
Capacity to work hand
·
Above average intelligence and wide knowledge
·
Self Motivation
·
Vision and foresight
·
Willingness to defer consumption
·
Imagination initiative and emulation
·
Incentive ability and sound judgment
·
Flexibility and sociability
·
Desire to take personal responsibility.
·
Desire to seek and use feedback
·
Persistence in the face of adversity
·
Innovativeness and future orientation
·
Mobility and drive
·
Creative Thinking.
·
Strong need for achievement
·
Ability to Marshall resources
·
High degree of ambition
·
Will to conquer & impulse to fight.
·
Will to prove superior to others.
Knowledge and Skills of Entrepreneur
2. Idea
generation & scanning of the best suitable idea
3. Determination
of the business objective
4. Product
analysis and market research
5. Determination
of form of ownership
6. Completion
of promotional formalities
7. Raising
necessary funds
8. Procuring
machine & material
9. Recruitment
of men
10. Undertaking
the business operations
Entrepreneur
& Manager
Types of
Entrepreneur
ü Innovative
Entrepreneur
ü Imitative
Entrepreneur
7 key Qualities of Entrepreneur
Being an
entrepreneur is about more than just starting a business or two, it is about
having attitude and the drive to succeed in business. All successful
Entrepreneurs have a similar way of thinking and posses several key personal
qualities that make them so successful in business. Successful entrepreneurs
like the ambitious Richard Branson have an inner drive to succeed and grow
their business, rather than having a Harvard Business degree or technical knowledge
in a particular field.
All
successful entrepreneurs have the following qualities:
Inner Drive to Succeed
Entrepreneurs
are driven to succeed and expand their business. They see the bigger picture
and are often very ambitious. Entrepreneurs set massive goals for themselves
and stay committed to achieving them regardless of the obstacles that get in
the way.
Strong Belief in themselves
Successful
entrepreneurs have a healthy opinion of themselves and often have a strong and
assertive personality. They are focused and determined to achieve their goals
and believe completely in their ability to achieve them. Their self optimism
can often been seen by others as flamboyance or arrogance but entrepreneurs are
just too focused to spend too much time thinking about un-constructive
criticism.
Search for New Ideas and
Innovation
All
entrepreneurs have a passionate desire to do things better and to improve their
products or service. They are constantly looking for ways to improve. They're
creative, innovative and resourceful.
Openness to Change
If
something is not working for them they simply change. Entrepreneurs know the
importance of keeping on top of their industry and the only way to being number
one is to evolve and change with the times. They're up to date with the latest
technology or service techniques and are always ready to change if they see a
new opportunity arise.
Competitive by Nature
Successful
entrepreneurs thrive on competition. The only way to reach their goals and live
up to their self imposed high standards is to compete with other successful
businesses.
Highly Motivated and Energetic
Entrepreneurs
are always on the move, full of energy and highly motivated. They are driven to
succeed and have an abundance of self motivation. The high standards and
ambition of many entrepreneurs demand that they have to be motivated!
Accepting of Constructive
Criticism and Rejection
Innovative
entrepreneurs are often at the forefront of their industry so they hear the
words "it can't be done" quite a bit. They readjust their path if the
criticism is constructive and useful to their overall plan, otherwise they will
simply disregard the comments as pessimism. Also, the best entrepreneurs know
that rejection and obstacles are a part of any leading business and they deal
with them appropriately.
True
entrepreneurs are resourceful, passionate and driven to succeed and improve.
They're pioneers and are comfortable fighting on the frontline The great ones
are ready to be laughed at and criticized in the beginning because they can see
their path ahead and are too busy working towards their dream.
WOMEN ENTREPRENEUR IN INDIA: The
Indian sociological set up has been traditionally a male dominate done. Women are considered as weaker sex and always
to depend on men folk in their family and outside, throughout their life. They
are left with lesser commitments and kept as a dormant force for a quite long
time. The Indian culture made them only subordinates and executors of the
decisions made by other male members, in the basic family structure.
The
traditional set up is changing in the modern era. The transformation of social
fabric of the Indian society, in terms of increased educational status of women
and varied aspirations for better living, necessitated a change in the life
style of Indian women.
Indian
families do have the privilege of being envied by the westerners, since women
here are taking more responsibilities in bringing up children and maintaining a
better home with love and affection. At the family level, the task of
coordinating various activities in a much effective manner, without feeling the
pinch of inconveniences, is being carried out by the women folk.
Thus, the
Indian women have basic characters in themselves in the present sociological
and cultural setup as follows.
Indian
women are considered as Sakthi, which means source of power. Effectively
coordinating the available factors and resources.
Efficient
execution of decisions imposed on them
Clear
vision and ambition on the improvement of family and children. Patience and
bearing the sufferings on behalf of others and
Ability
to work physically more at any age.
NEED OF
THE HOUR: Women sector occupies nearly 45% of the Indian population. The
literary and educational status of women improved considerably during the past
few decades. More and more higher educational and research institutions are
imparting knowledge and specialisation. At this juncture, effective steps are
needed to provide entrepreneurial awareness, orientation and skill development
programmes to women. The institutions available at present are very limited.
Moreover, their functions and opportunities available with them are not
popularised much.
QUALITIES
REQUIRED FOR AN ENTREPRENEUR: An effective entrepreneur requires certain basic
qualities, which can be listed as follows.
Innovative
thinking and farsightedness.
Quick and
effective decision making skill. Ability to mobilise and marshal resources.
Strong determination and self confidence. Preparedness to take risks.
Accepting
changes in right time.
Access
and alertness to latest scientific and technological information.
Matching
the basic qualities required for entrepreneurs and the basic characters of
Indian women reveal that, much potential is available among the Indian women on
their entrepreneurial ability. This potential is to be recognized, brought out
and exposed for utilisation in productive and service sectors for the
development of the nation.
Factors affecting Entrepreneurship growth:
1. Economic
factors
2. Social
factors
3. Cultural
factors
4. Personality
factors
5. Psychological
and sociological factors.
Economic Factors:
1. Lack of
adequate basic facilities
2. Non-
availability of capital
3. Non-
availability of raw materials and finished goods.
4. Greater
risk involved in business
5. Non-
availability of skilled labour
Social factors
4. Customs
and traditions
5. Rationality
of the society
6. Social system
7. Social
set-up
Personality Factors
1. Suspect
personality
2. Emergence
of planning
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