Explain the physical and mental qualities expected in an entrepreneur.
Answers
The success of an enterprise new or old depends upon the qualities or characteristics of an entrepreneur or entrepreneur. In order to be successful, an entrepreneur must possess certain qualities which are unique of its kind. If we go through the business history of India, we come across the names of Tata, Birla, Modi, Dalmia and others who started their business with small size and made good fortunes. This is possible only because they possess all the entrepreneurial qualities.
McClelland has identified these qualities or characteristics or features of a successful entrepreneur as “an individual with technical competence, risk-taking, high initiative, good judgment, intelligence to analyse and solve problem areas, leadership qualities, confidence, positive attitude, high level of energy, creativeness, honesty, integrity emotional stability and fairness.”
Robert D. Hisrich identified adequate commitment, motivation and skills to start and build some of the important qualities of an entrepreneur. Flexibility, good social behaviour, open mind and desire to take personal responsibilities will fit in the qualities of a true entrepreneur.