An entrepreneur is a highly achievement oriented, enthusiastic and energetic individual, who has following characteristics.
Entrepreneurs are action oriented, highly motivated individuals who takes risks to achieve goals.
Entrepreneurs will have unwavering determination and commitment. They are creative and result-oriented. They work hard in return for personal and financial rewards.
Entrepreneur accepts responsibilities with enthusiasm and endurance.
Entrepreneurs have self-confidence, they are dedicated, setting self determined goals and markets for their ideas responding to existing market.
Entrepreneurs are both thinkers and doers, planners and workers.
Entrepreneurs can foresee the future, like a salesman’s persuasiveness, a financial talent for manipulating funds, like an auditors precision etc.
Entrepreneur depends on the intelligence, imagination and strength of purpose of the individual.
The process of entrepreneurship is indeed complex and also when we say entrepreneur is what an entrepreneur does. Therefore experts have enlisted the characteristics of entrepreneurship.
Ability to create enterprise: entrepreneurship is primarily an economic activity because it involves creation and operation of an enterprise. It is basically concerned with satisfying the needs of customer with the help of production and distribution of goods and services.
Organizing function: An entrepreneur brings together various factors of production for an economic use. He co-ordinates and controls the factors of production, efforts of the persons engaged in his enterprise.
Innovation: entrepreneurship is an automatic, spontaneous and creative response to the changes in the environment. It involves innovation of something new to cause dynamic change and spectacular success in the economy, and create conditions for the growth of economy.
Risk bearing capacity: Risk is an inherent and inseparable element of entrepreneurship. He assumes the uncertainty of future. An entrepreneur guarantees rent to the landlord, wages to employees and interest to the investors in the hope of earning more than the expenses.
Managerial and leadership functions: An industrial entrepreneur must have additional personality traits such as managerial and leadership skills. Managerial and leadership qualities predominant orientation is in the direction of productivity, working relation and creative integration along with a desire to make profit. Entrepreneurship demands tactful handling of risks and uncertainties because new commodity and its acceptability are uncertain.
Gap filling: The gap filling between human needs and the available products and services leads to entrepreneurship. An entrepreneur identifies the gap and takes necessary corrective measures to fill gap, to achieve his action oriented motive in the enterprise as an entrepreneur with the help of the process of entrepreneurship.
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