Guideline 1: ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT Structure (original) (raw)

Traits of Successful Entrepreneurs

The success of small enterprises largely depends on the human capital of their owner-manager. There are various factors leading to success of entrepreneurs. Many authors & researchers are of the view that the success of an entrepreneur largely depends on traits of the entrepreneur but having difference of opinion regarding the degree of importance among various traits. The present study is based on primary data collected directly from 85 entrepreneurs of Assam by serving well structured questionnaire to identify the important traits of successful entrepreneurs. Descriptive statistic was used to summarize the data. Out of 14 traits variables, five important factors were finally identified with the help of factor analysis relating to successful entrepreneurs of Assam. These factors are innovation, futuristic mindset, risk taking Ability, adaptability and commitment. This finding will be of immense help to the academician and policymakers in supporting and development of entrepreneurship in Assam.

Distinctive Characteristics of Successful Entrepreneurs

Bayero Business Review Nigeria, 2006

Entrepreneurs are skilled people or entities that make things happen, even in the midst of scarce resources. They possess some personal and managerial qualities in conducting their activities, possess the willingness to take calculated risks, have strong belief in themselves, and are able to make good decisions. This paper presents an insight into the ‘person’ of a successful entrepreneur including various strategies employed in coping with environmental challenges. A descriptive research approach was adopted, in this paper, with a purposive/judgmental sample of strictly top entrepreneurs within Lagos who have been increasingly successful in their various ventures in the last five years. Fifty questionnaires were handed out to these entrepreneurs, but forty-four of them were returned. Also, thirty six of them were orally interviewed. One hypothesis was tested, using a one-way ANOVA statistical tool. It was discovered that environmental factors to a large extent, influence entrepreneurial performance. It was found that being a successful entrepreneur is dependent on the possession of certain traits; that the adoption of some strategies can enhance entrepreneurial success, that some environmental factors contribute to the success of an entrepreneur, and that some factors also hinder entrepreneurs from being successful. It is recommended the distinctive characteristics identified should be employed by entrepreneurs so as to be able to visualize, handle human and material resources, and adapt to environmental influences in a challenging business environment.

Personality Traits required for Entrepreneurs: A Study in Silchar Town of Assam

It is the entrepreneurs in a country who not only coin newer ideas to attend the latest needs of the goods and services of the people but also discover newer customer groups, geographical locations and sources of capital. Having an understanding of the market requirements and accordingly making apt decisions are the scores on the report card for any entrepreneur. One of the facts is that each entrepreneur does not score alike in the test. In addition to other reasons this difference is because of dissimilar personality traits present in entrepreneurs. This paper is an effort to bring this personality traits matter into the streamline. In the process of identifying the required personality traits with the desired degree of presence the perception of the fifty eight entrepreneurs of Silchar town having a minimum of two years of experience as entrepreneurs and varied background in terms of age, capital invested, source of capital and type of business have been taken into consideration. The study centers around fifty eight traits identified and selected for the purpose. For making the text and the study lucid the traits selected have been divided into five categories. Personality traits viz. decision making, communicating, responsible, hard working and focused were some of the personality traits which outcast other personality traits and come up to be the top five, among all, selected personality traits to make a successful entrepreneur. Other essential traits that ranked high to be successful entrepreneurs are responsible, confidence, dedication, active, and inter personal skills.

Entrepreneurial Charactersistics and Relational_Dynamics

Proceedings of the International CReBUS Conference on Higher Education

The majority of worldwide business is conducted through small businesses (SB's). Ironically, the success rate for SB's is poor, with most failing within their first few years of operation. Statistical and actuary predictions for which SB will prove successful are invalid. The means and variables used to predict the success of new entrepreneurs are under constant debate. This article explores some of the characteristics found in successful entrepreneurs, provides operational definitions for these attributes. Utilizing theories from development, education, social psychology, mathematics, economics and physics a model for understanding relational dynamics is provided. We suggest possible venues that may increase the success of SB's entrance into the global market place using this relational dynamics and discuss other applications in the sciences and humanities.

The Entrepreneurship Model Development Based on Truthfulness, Trustworthiness, Wisdom, and Communication Characteristics

This paper attempts to develop an entrepreneurship model based on four characteristics which are Truthfulness, Trustworthiness, Wisdom, and Communication. The aim of this paper is to identify if these factors have relationships with intention to become entrepreneurship. Results from survey were discussed to reveal the degree of relationship directions with intention to become entrepreneurs. This paper contributes to knowledge in terms of providing a focus on the entrepreneurial development.

Research Entrepreneurial factors that contribute to the success of Entrepreneurs

North American Academic Research, 2019

Entrepreneurship is considered as one of the main driver of market and development. Entrepreneurs play an important role in economic development through innovation, creativity and employment. They discover new ideas and provides business opportunities to deliver goods and services. This research aims to study the factors that contribute to the success of entrepreneurs and to analyze the relationship between entrepreneurial factors and the success of entrepreneurs in Gilgit. Concerning the methodology, three entrepreneurial factors personality traits, access to finance and government support were taken in the study using quantitative approach. Using convenient sampling technique, 151 entrepreneurs were selected as respondents. Data were collected from an adapted questionnaire using 5-point Likert scale. Correlation and regression analysis were used to test the relationship between entrepreneurial factors and entrepreneurial success. The study analyzed the significant relationship between entrepreneurial factors and entrepreneurial success. This research will be practicable for scholars and the researchers who are studying entrepreneurial factors. Future research may be conduct this study on a large scale in different geographic regions.

Personal Characteristics, Business Relationships and Entrepreneurial Performance: Some Empirical Evidence

2011

Purpose -The purpose of this paper is to examine the influence of individual and relational factors on new ventures' performance. Particular emphasis is given to entrepreneurs' personal attributes and business relationships (both social and institutional). Design/methodology/approach -Drawn upon a quantitative methodological approach, the current study relies on a survey questionnaire applied to a sample of entrepreneurial firms which were set up in the last four to five years in different industries.

Personality Qualities Needed for Successful Entrepreneurship in Nigeria

Tij S Research Journal of Social Science Management Rjssm, 2014

The promotion of an entrepreneurship culture has become the weapon of choice in the war against poverty. This study sought to reinforcre that effort by identifying attributes which may best enhance entrepreneurial prospects in the Nigerian setting. Four research questions and one hypothesis guided the conduct of the study. A structured questionnaire was developed and administered on entrepreneurs in Osun State in Nigeria. The research questions were analyzed using mean rating and standard deviation, while the hypothesis was tested at 0.05 level of significance using t test. The result shows that personality qualities needed for successful entrepreneurship in Nigeria include integrity, resourcefulness, good physical and mental health, good dressing habits among others. The study suggests that the Psychology of Entrepreneurship should be introduced as a study discipline.

THE FUNCTION AND STRUCTURE OF COMMUNICATION IN ENTREPRENEURIALSHIP BY ARIRIGUZOH STELLA A

The communication function in the society is the thread that holds the various parts of the society together. Communication is a social process: the basis of human fellowship that produces the bonds that tie men together in the making and sharing of information. points out that it is an essential to the society and to the human survival. It is needed to make different people live and work together; maintain the social order and regulations; and to cope with the environment. Wright comments that the ability to participate in communication establishes a person as a social being who is a functional member of the society! Indeed, we may agree that of all things communication is the most important. It is the anchor for sharing, participating and associating in shared beliefs, aims, aspirations and knowledge. The importance of communication is further highlighted by Williams (1966:19-20) observation that our minds and lives are shaped by communication.

Entrepreneurial Characteristics as Factors of Human Development

Journal of Entrepreneurship Education, 2020

In the course of substantiating and developing a scientific and methodological approach to assessing human development and entrepreneurial characteristics using the graphic analytic method for determining the integral indicator, the lags for each group of indicators and in the country as a whole have been calculated and recommendations on state regulation of human development based on a mental map have been made. The essence of the mental map reflects the orientation of the application of regulatory tools in accordance with the principles of the relationship of economic policy and state ideology, the balance between the desire for centralism and the use of the advantages of local initiative, the combination of national interests with the needs of territorial communities, science and the programmed effectiveness of decisions made. Specific principles of regulation such as compliance of impacts with existing business condition,; an organized integrated approach to solving pressing socioeconomic problems, and the systematic nature of the measures used, taking into account the peculiarities of the internal and external environments have become the basis for creating recommendations on measures for organizational, legal, financial and tax, and monetary support.