Traits and Characteristics used by Entrepreneurs

Traits and Characteristics used by Entrepreneurs

Introduction

In the era of 21st century, the technology and globalization has done much advancement in the corporate world all across the world. The globalization along with technology has expanded the businesses from the domestic to international levels. The businesses have more opportunities now to operate and increase its production and profitability. In such cases of expansion and growth, the role of entrepreneur is really important. He is the person who combines the sources and takes risks to achieve the planned goals of the corporation. There are different types of businesses that exist in the business world. Therefore, the following essay is going to evaluate the traits and characteristics that are used by entrepreneurs in the development of entrepreneurial opportunities with small businesses, social enterprises and larger organizations.

Discussions

Besides many factors that play their role in the success of a business, the entrepreneur is the person who is considered as the most important factor as well. It is the efforts of him that gives the output and brings revenues to the business. The abilities and qualities he possesses to combine the factors of production effectively and efficiently is called as the 'Entrepreneurship skills'.

Entrepreneur and Entrepreneurship Skills

The entrepreneur is a person who, individually or collectively, sets objectives and making strategic decisions about the goals, the means, the administration and monitoring of the business and takes responsibility legal commercial and against third parties. The employer is the natural person or legal entity with legal capacity and in a professional manner combines capital and labor in order to produce goods and / or services to offer them in the market in order to obtain benefits. (Hiam, Alexander, et.al.1996)

The term generally applies to the upper layers of management called CEOs for example Steve Jobs and Bill Gates as members of the board of directors or board of directors, for example: Sergio Marchionne and Ramon Aboitiz or some shareholders (usually "shareholders" or those with multiple investments for example: Warren Buffett and Ricardo Claro and, generally, to the owners of businesses of all sizes.

The entrepreneurship skills are the qualities that are needed to be present in the leader who is responsible for setting and achieving the goals of the business. These qualities are a combination of the following four categories:

Personal characteristics.

Interpersonal skills.

Critical and creative thinking skills.

Practical skills

Additionally, the creativity of the entrepreneur are listed below.

Entrepreneurial Character Traits

The entrepreneurial character traits include:

the desire to succeed;

high ambitions;

self-confidence;

high self-esteem;

perseverance;

internal independence;

orientation activities;

willingness to learn from experience;

diligence;

determination;

courage;

willingness to take risks;

creative

Skills in the Process of Practice

Entrepreneurial skills that are acquired in the process of practice are:

creative approach to problem solving;

ability to persuade;

negotiation skills;

ability to offer;

ability to sell;

integrated approach to managing the business (project management);

strategic thinking;

intuitive decision-making under uncertainty (uncertainty, ambiguity, misunderstanding);

ability to use new technologies and achievements of scientific and technical progress.

The most effective business potential can be trained so necessary entrepreneurial types of behavior:

skillfully exploited the favorable situation (a good opportunity);

be proactive;

creative approach to problem solving;

fend for themselves and rely on ...