Entrepreneurship Notes.pdf - Entrepreneurship Characteristics Traits of an Entrepreneur 1 Creativity Creativity is an ability to bring something new

Entrepreneurship Notes.pdf - Entrepreneurship...

This preview shows page 1 - 3 out of 41 pages.

Entrepreneurship Characteristics / Traits of an Entrepreneur 1. Creativity- Creativity is an ability to bring something new into existence. An entrepreneur should be creative because ideas usually evolve through creative process whereby imaginative people bring them into existence, nurture them and develop them. 2. Mental Ability- An entrepreneur must be reasonably intelligent and should have creative thinking and be able to analyze various problems and situations. 3. Innovation- Innovation creates a resource, they should be able to convert a material into a resource or combine the existing resources in new and more products. 4. Leadership- The qualities of leadership will enable a person to stand apart. The spirit of leadership keeps him forward in any field. 5. Team Builder- Has ability to build a team; a team is a group of people with a common purpose that is focused and aimed to achieve a specific task. 6. Problem solving- An entrepreneur should learn to face problems and not to avoid them. He should have the ability to define problems and look for viable solutions. 7. Goal Orientation- Human behavior is goal directed, therefore a good entrepreneurs should be goal oriented because goal setting is necessary part of allocations. 8. Risk Taking- Entrepreneurs are persons who take decisions under conditions of uncertainty and therefore are willing to bear the risk, he takes calculated risks. 9. Persistent- An entrepreneur is one who has a strong determination; its determination that provides that provides the entrepreneur with energy to work for long hours. 10. Technical Knowledge- An Entrepreneur with high level of administrative ability, human relations, communication skills creativity and technical knowledge stand a much better chance of success. 11. Highly Optimistic- He or she is not disturbed by the present problems faced by them. They are optimistic that the situation will become favorable to the business in future. 12. Independent- They resist it be guided by others and follow their routine. They make their own decision.
Image of page 1
DEFINATIONS/ INTRODUCTION TO EP/ ENTREPRENEURSHIP/ SELF EMPLOYEMENT . Entrepreneur. He is a person who is able to identify business opportunities, obtain the necessary resources to initiate a successful business activity. Personal qualities Flexible Entrepreneurship; The act or process of identifying business opportunities and gathering the necessary resources to initiate a successful business activity. Jua Kali Activity Investors in stock market. Self- Employment. Being a in a business by one-self whereby you earn all profits and risks all the losses in the business. IMPORTANCES OF SELF-EMPLOYMENT TO INDIVIDUALS. Self-employed individuals perform or guide all the work in a business enterprise. They benefit by keeping all the profits.
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 41 pages?

  • Winter '15

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture