Nirma Etp Ent.Traits

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Nirma Etp Ent.Traits

  1. 1. <ul><li>Personality Characteristics of an Entrepreneur </li></ul><ul><li>Introduction: </li></ul><ul><li>Entrepreneurial traits and motivation are an indispensible </li></ul><ul><li>function of management. Entrepreneur is human being </li></ul><ul><li>who has dignity, self-respect, values, sentiments, aspirations, </li></ul><ul><li>dreams, apart from economic status. Indeed, economic </li></ul><ul><li>betterment and social upliftment motivates person to </li></ul><ul><li>distinguish from others. </li></ul><ul><li>Creation of a Dream: </li></ul><ul><li>Creating a dream intention gives entrepreneurs the energy </li></ul><ul><li>and desire to become involved in its implementation and to </li></ul><ul><li>be willing to change. During formulation of the dream, </li></ul><ul><li>everyone participates and this allows people to start seeing </li></ul><ul><li>each other in a different light. Their willingness for </li></ul><ul><li>commitment to fulfill the dream depends on: </li></ul><ul><ul><ul><ul><li>How well the organization’s leaders function in their </li></ul></ul></ul></ul><ul><ul><ul><ul><li>new role of facilitating needs and issues that are at </li></ul></ul></ul></ul><ul><ul><ul><ul><li>variance with the dream. </li></ul></ul></ul></ul>
  2. 2. <ul><ul><ul><li>How clearly the leaders articulate and share information </li></ul></ul></ul><ul><ul><ul><li>about the business needs, and </li></ul></ul></ul><ul><ul><ul><li>How well the leaders openly acknowledge their willingness </li></ul></ul></ul><ul><ul><ul><li>to change in whatever fashion to attain the dream or </li></ul></ul></ul><ul><ul><ul><li>intention. </li></ul></ul></ul><ul><ul><ul><li>“ The process of creating the dream, intention should be </li></ul></ul></ul><ul><ul><ul><li>tailored to the situation with the objective of having entire </li></ul></ul></ul><ul><ul><ul><li>organization ultimately own the dream.” </li></ul></ul></ul><ul><li>Personality Characteristics of An entrepreneur: </li></ul><ul><li>i. Leadership: </li></ul><ul><li> Ability of those leading work units (managers, engineers, </li></ul><ul><li> supervisors, functionaries, technical support, and group </li></ul><ul><li> leaders) to create an atmosphere of acceptance, openness, </li></ul><ul><li> and trust that will be properly motivate members of the </li></ul><ul><li> work units. </li></ul><ul><li>ii. Interpersonal Competence: </li></ul><ul><li> Ability to relate, to people in a considerable and effective </li></ul><ul><li> way. </li></ul>
  3. 3. <ul><li>iii. Administrative Competence: </li></ul><ul><li> Ability to achieve organizational goals within the bounds </li></ul><ul><li> of business constraints, policies and procedures. This </li></ul><ul><li> means that the leader should </li></ul><ul><li> * Understand own job </li></ul><ul><li> * Understand the employee’s job - by </li></ul><ul><ul><ul><ul><li>Utilizing people’s skills effectively. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Be concerned with employees’ work and workflow. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Stand up for and show confidence in employees. </li></ul></ul></ul></ul><ul><li> * Take immediate action by </li></ul><ul><ul><ul><ul><li>Giving priority to problems </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Follow up on promises </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Get tough when necessary </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Take action to remove poor performance </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Assure that the next in command knows his role and </li></ul></ul></ul></ul><ul><ul><ul><ul><li>has authority to act. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Provide proper human resources for all levels of </li></ul></ul></ul></ul><ul><ul><ul><ul><li>organization. </li></ul></ul></ul></ul>
  4. 4. <ul><li> Basic Elements - Entrepreneurial Involvement </li></ul><ul><li> Necessary for Optimal Entrepreneur </li></ul><ul><li> Involvement and Motivation </li></ul><ul><li> People involvement </li></ul><ul><li> Structure </li></ul><ul><li>Leadership </li></ul><ul><ul><ul><ul><li>Individual Group Measurement </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Rewards </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Quality </li></ul></ul></ul></ul><ul><li>Beliefs Values </li></ul><ul><li>Entrepreneurial Technology Love Dignity, </li></ul><ul><li>Spirit Methods Respect </li></ul><ul><li> Machines </li></ul><ul><li> Materials </li></ul><ul><li> </li></ul><ul><li> Hygiene </li></ul><ul><li>Work Setting </li></ul>
  5. 5. 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.
  6. 6. <ul><li>There may be </li></ul><ul><ul><ul><ul><ul><li>Entry Barriers </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Survival Barriers </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Exit Barriers </li></ul></ul></ul></ul></ul><ul><ul><ul><li>Entry barriers are those forces limiting access to identified </li></ul></ul></ul><ul><li>business opportunities and capitalization on these </li></ul><ul><li>opportunities. </li></ul><ul><li>Survival barriers are constraints on the conditions essential </li></ul><ul><li>for small business entity. </li></ul><ul><li>Exit barriers are constraints limiting the termination of </li></ul><ul><li>small industrial ventures that have outlived their business </li></ul><ul><li>viability or the growth of such ventures to a different size </li></ul><ul><li>category. </li></ul><ul><li>Exercise: </li></ul><ul><li>Prepare a list of </li></ul><ul><li> (i) The existing Entry Barriers </li></ul><ul><li> (ii) Observed survival Barriers </li></ul><ul><li> (iii) Identified Exit barriers </li></ul>
  7. 7. 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

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