Project 1
EDP
Entrepreneurial Quotient (EQ)
Report submitted By
Rakesh K.
3rd
Sem,MBA Full Time
Roll No : 27
SMS,CUSAT
Objective: People who have a high EQ need not be good entrepreneurs as this is a totally
different field. The study aims a...
are first generation entrepreneurs. All the entrepreneurs have a good support from their
spouse in matters regarding finan...
Realism : The entrepreneurs were practical people who want to make things happen.All
the entrepreneurs scored high in this...
Based on the conversion system adopted for each response we have the detailed scores of
Entrepreneurs in the table below.
...
36 10 5 5 5 5 5
37 10 10 5 5 5 5
38 10 5 5 0 -5 -5
39 10 0 5 -5 -5 -10
40 10 5 5 5 5 5
41 10 5 5 5 5 5
42 10 5 5 5 5 5
43 ...
Conclusion:
The results show that the entrepreneurs seem to show certain qualities which are missing
in salaried persons.T...
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Entrepreneurial Quotient (EQ)

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A study to understand Key Characteristics of an Entrepreneur.

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Entrepreneurial Quotient (EQ)

  1. 1. Project 1 EDP Entrepreneurial Quotient (EQ) Report submitted By Rakesh K. 3rd Sem,MBA Full Time Roll No : 27 SMS,CUSAT
  2. 2. Objective: People who have a high EQ need not be good entrepreneurs as this is a totally different field. The study aims at finding out the entrepreneurial traits found in entrepreneurs. It tries to establish if any common traits are found among the entrepreneurs. It helps to answer to the query as what is that which makes the entrepreneur different. The Entrepreneurial Quotient is measured by studying the various traits. Methodology: The study was done by identifying five entrepreneurs. They are then questioned on various aspects as given in the questionnaire. The responses are studied and then clubbed under various headings. Also the same questions were posed to five non-entrepreneurs or the salaried class people. Based on these the final data has been compiled. To simplify the process, a point system has been used. The EQ of the entrepreneurs and of non-entrepreneurs has been arrived by using the points system. Profile: Profile of the entrepreneurs chosen for study is given below: Age: All entrepreneurs studied here are aged below 40 years except one who is of 58 years old. The average age of the entrepreneurs considered for study is 38 years. The youngest entrepreneur is 28 years old. Educational Qualification: All the entrepreneurs except two have done graduation in commerce. One of the graduate holds a post graduate degree in management.Two persons have done graduation in arts. Profile of the non-entrepreneurs or the salaried class studied: All the persons have good positions in MNCs except one who is employed in a bank. Three persons studied here have experience of more than 15 years, while others have an experience of about 5 years. Analysis: The responses were studied in depth and were correlated to find their meanings. The various aspects that were studied during this project can be clubbed into following headings: Self Control, Self Confidence, Creativity, Sense of Urgency, Conceptual Ability Realism, Risks and Tolerance, Persistence/Determination, Initiative, Luck, Learning from others, Clarity in thoughts, People skills, Interpersonal Relationships Emotional Stability, Honesty/Integrity, Comprehensive Awareness Interestingly none of the five respondents have done small jobs during their childhood. It is also interesting that only one person has a family that own businesses, remaining others
  3. 3. are first generation entrepreneurs. All the entrepreneurs have a good support from their spouse in matters regarding financial risks. To enable easier analysis,each responses have been given a point.If the response is very much apt to the entrepreneurial activity then it is given highest point.All other entries are then given lower points in descending order. For example,take the question no 32 - I enjoy power, control and authority . The responses will be assigned the following points: Fully Agree Agree No Opinion Disagree Fully Disagree 10 5 0 -5 -10 The entrepreneurs are found to enjoy power,control and authority.Hence the point system assigns more points to first response and negative points to those who disagree. The ideal measurements would be 470 points for all the qualities considered. Findings: Self control: One of striking quality found in all the entrepreneurs is their desire to be independent and be their own boss. All of them also agree that they enjoy power, control and authority. All expect two respondents told that they do not read self help books. Majority of them agreed that they were aware of factors that decide personality characteristics.This aspect was found missing in case of non-entrepreneurs. Self Confidence: All the respondents scored high on the aspects like being ambitious,having good managerial skills and selling skills.This shows that the entrepreneur may not be selling goods but he has the confidence to take up unknown jobs.The salaried class scored low in this aspect too. Creativity : Majority of the respondents scored high in this regard.We can understand that the entrepreneurs don’t do different things but they do things differently.They are capable to think out of box even in stresses situations due to their creativity. Sense of Urgency: Again majority of the respondents in entrepreneurs’ category had a feeling to complete a task once they set their target. They also agree that at times they take quick decisions. They believed they were highly energetic and aggressive in their approach. Conceptual Ability : The entrepreneurs responded that they enjoyed solving problems where as the salaried class does not want to come into contact with problems.This shows that entrepreneurs have a good conceptual ability as they enjoy finding solutions for problems.
  4. 4. Realism : The entrepreneurs were practical people who want to make things happen.All the entrepreneurs scored high in this regard. Risks/Tolerance : All entrepreneurs took personal and financial risks.They were willing to face the consequences of their decision and accept outcomes whether it was profitable or a loss making decision.On the other hand the salaried class surveyed here were running away from risks as all scored badly on this aspect. Persistence / Determination : The entrepreneurs scored very high points in this aspect.One of the entrepreneur mentioned that he had previously failed in many businesses but has come back to start another one.This shows that entrepreneurship is for those who are willing to pursuit their dreams despite setbacks. Emotional Stability: The Entrepreneurs had good emotional stability despite their set backs as all of the respondents agreed that they never get upset by setbacks.They also found time for relaxation and get up happy. Learning from others: The data shows that all the entrepreneurs are willing to go extra mile to learn things they are unaware of .They are not shy to ask helo from others when required. Honesty and Integrity: All of the entrepreneurs are dedicated to their work and business.They show high degree of ethics in their business when dealing with customers and partners. Comprehensive Awareness: All respondents were aware of their customer’s choices and tastes.They also knew the sources of finance available at lowest cost.They were familiar with business laws and practices. Interpersonal Relationship: This aspect seems to be common for both the entrepreneurs and the salaried persons.
  5. 5. Based on the conversion system adopted for each response we have the detailed scores of Entrepreneurs in the table below. Question No Ideal Scores Mohan Das Agison Naushad Alex Prakash 1 10 5 5 -10 -10 -10 2 10 5 5 5 5 -5 3 10 5 5 5 5 5 4 10 5 5 -5 5 5 5 10 10 5 5 10 10 6 10 5 5 5 10 10 7 10 10 5 5 10 5 8 10 5 5 5 10 10 9 10 5 5 5 5 10 10 10 10 10 0 5 10 11 10 5 0 10 0 10 12 10 5 5 5 5 5 13 10 5 5 0 5 5 14 10 10 10 5 5 5 15 10 5 5 5 5 5 16 10 5 5 5 5 5 17 10 5 -5 -5 5 5 18 10 5 5 5 5 5 19 10 5 10 5 10 5 20 10 10 5 5 10 5 21 10 10 5 5 5 5 22 10 5 5 5 5 0 23 10 10 5 5 5 5 24 10 5 5 0 5 5 25 10 10 5 5 5 5 26 10 5 5 0 5 5 27 10 5 5 5 5 5 28 10 5 5 5 5 0 29 10 5 5 0 5 5 30 10 5 10 5 5 5 31 10 5 5 5 5 5 32 10 5 5 5 5 5 33 10 5 5 5 5 5 34 10 5 5 5 5 5 35 10 5 5 5 5 10
  6. 6. 36 10 5 5 5 5 5 37 10 10 5 5 5 5 38 10 5 5 0 -5 -5 39 10 0 5 -5 -5 -10 40 10 5 5 5 5 5 41 10 5 5 5 5 5 42 10 5 5 5 5 5 43 10 10 5 5 5 5 44 10 5 5 5 5 5 45 10 5 5 5 5 5 46 10 5 5 -5 5 -10 47 10 5 5 5 5 5 Total Score 470 280 240 155 225 195 EQ of Entrepreneurs 0 50 100 150 200 250 300 350 400 450 500 Ideal Scores Mohan Das Agison Naushad Alex Prakash Entrepreneurs Score The same methodology when adapted to non-entrepreneurs, the scores were negative. They were hardly willing to take risks. They could not with stand even small set backs like denial of promotions. They were totally unaware of business ideas. They also never determined their net assets.
  7. 7. Conclusion: The results show that the entrepreneurs seem to show certain qualities which are missing in salaried persons.The EQ of an entrepreneur is very high when compared to that of a salaried persons.The Entrepreneur is more risk taking, emotionally stable, has good awareness of opportunities and threats and is a practical person.He enjoys independence and authority.He likes to be his own boss where as the salaried persons are satisfied with their positions.The salaried class seem to be not caring much for status as long as their salary comes on time.They need constant guidance to do things whereas an entrepreneur will learn by himself and try to do of his own.EQ is also not depended on persons’ family occupation as all of the entrepreneurs except one are first generation entrepreneurs.

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