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Nirma Etp Ent.Traits

Nirma Etp Ent.Traits






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    Nirma Etp Ent.Traits Nirma Etp Ent.Traits Presentation Transcript

      • Personality Characteristics of an Entrepreneur
      • Introduction:
      • Entrepreneurial traits and motivation are an indispensible
      • function of management. Entrepreneur is human being
      • who has dignity, self-respect, values, sentiments, aspirations,
      • dreams, apart from economic status. Indeed, economic
      • betterment and social upliftment motivates person to
      • distinguish from others.
      • Creation of a Dream:
      • Creating a dream intention gives entrepreneurs the energy
      • and desire to become involved in its implementation and to
      • be willing to change. During formulation of the dream,
      • everyone participates and this allows people to start seeing
      • each other in a different light. Their willingness for
      • commitment to fulfill the dream depends on:
            • How well the organization’s leaders function in their
            • new role of facilitating needs and issues that are at
            • variance with the dream.
          • How clearly the leaders articulate and share information
          • about the business needs, and
          • How well the leaders openly acknowledge their willingness
          • to change in whatever fashion to attain the dream or
          • intention.
          • “ The process of creating the dream, intention should be
          • tailored to the situation with the objective of having entire
          • organization ultimately own the dream.”
      • Personality Characteristics of An entrepreneur:
      • i. Leadership:
      • Ability of those leading work units (managers, engineers,
      • supervisors, functionaries, technical support, and group
      • leaders) to create an atmosphere of acceptance, openness,
      • and trust that will be properly motivate members of the
      • work units.
      • ii. Interpersonal Competence:
      • Ability to relate, to people in a considerable and effective
      • way.
      • iii. Administrative Competence:
      • Ability to achieve organizational goals within the bounds
      • of business constraints, policies and procedures. This
      • means that the leader should
      • * Understand own job
      • * Understand the employee’s job - by
            • Utilizing people’s skills effectively.
            • Be concerned with employees’ work and workflow.
            • Stand up for and show confidence in employees.
      • * Take immediate action by
            • Giving priority to problems
            • Follow up on promises
            • Get tough when necessary
            • Take action to remove poor performance
            • Assure that the next in command knows his role and
            • has authority to act.
            • Provide proper human resources for all levels of
            • organization.
      • Basic Elements - Entrepreneurial Involvement
      • Necessary for Optimal Entrepreneur
      • Involvement and Motivation
      • People involvement
      • Structure
      • Leadership
            • Individual Group Measurement
            • Rewards
            • Quality
      • Beliefs Values
      • Entrepreneurial Technology Love Dignity,
      • Spirit Methods Respect
      • Machines
      • Materials
      • Hygiene
      • Work Setting
    • Entrepreneurial Initiative: It is a strategic process which embodies calculated strategic choices. There are strategies open to the entrepreneur himself in terms of industry choice and individual and resource-task fit, and there are strategies open to regulators and support agencies in terms of industrial policy tools, incentives and explicit simulation of industrial sectors or branches. A conceptual framework that contains both dimensions will provide a convenient base for analysis and possible policy action. The analysis deals with a way of viewing the constraints embodied in the process of creating a new business or manufacturing operation. Barriers Prohibiting the Process of Entry into Activity: The slow propensity to enterprise is mainly due to the existence of a tangible set of barriers of entry, continuity in, and eventual exit from a business venture of a would be entrepreneur if it is a function of forces one may view as barriers limiting full-fledged business performance.
      • There may be
              • Entry Barriers
              • Survival Barriers
              • Exit Barriers
          • Entry barriers are those forces limiting access to identified
      • business opportunities and capitalization on these
      • opportunities.
      • Survival barriers are constraints on the conditions essential
      • for small business entity.
      • Exit barriers are constraints limiting the termination of
      • small industrial ventures that have outlived their business
      • viability or the growth of such ventures to a different size
      • category.
      • Exercise:
      • Prepare a list of
      • (i) The existing Entry Barriers
      • (ii) Observed survival Barriers
      • (iii) Identified Exit barriers
    • Attributes of an Entrepreneur: Perceptions Restless urge to get going Dedication Sense of acquisitiveness to get things done Vision Insight High Goals/Objectives High achiever Thrift Initiative Vigorous energy Creativity Hard work Zest to explore the unexplored Clean living Problem-solving ability Willingness to assume Ability to marshal resources risk Unceasing curiosity To achieve one’s objectives and goals Quest for new ideas Administrative ability