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Welcome to ABC@VITTBI “Entrepreneurial Traits”

Welcome to ABC@VITTBI “Entrepreneurial Traits” . B. Murali Manohar Asst. Professor & Coordinator ( Research, Consultancy and Placement ) VIT Business School VIT University. Entrepreneurial Traits . McClelland has summarized the following characteristics of successful entrepreneurs:

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Welcome to ABC@VITTBI “Entrepreneurial Traits”

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  1. Welcome to ABC@VITTBI“Entrepreneurial Traits” B. Murali Manohar Asst. Professor & Coordinator (Research, Consultancy and Placement) VIT Business School VIT University

  2. Entrepreneurial Traits • McClelland has summarized the following characteristics of successful entrepreneurs: • Pro-activity • Achievement orientation • Commitment to others

  3. Pro-activity • Initiative (does things before being asked or forced by events) • Assertiveness (confronts problems with others directly. Tells others what they have to do)

  4. Achievement orientation • Sees and acts on opportunities (seizes unusual opportunities to start a new business, obtain financing, land, work, space or assistance) • Efficiency orientation (looks for or finds ways to do things faster at less cost)

  5. Achievement orientation-contd. • Concern for high quality work (states a desire to produce or sell a top-or better quality product or service) • Systems planning (breaks a large task down into subtasks or sub goals. Anticipates obstacles, evaluates alternatives) • Monitoring (develops or uses producers to ensure that work is completed or that work meets stds. of quality)

  6. Commitment to others • Commitment to work contract (makes a personal sacrifice or expands extra ordinary effort to complete a job. Pitches in with workers or works in their place to get job done)

  7. Commitment to others-contd. • Recognizing the importance of business relationships (acts to build rapport or friendly relationships with customers. Sees interpersonal relationships as a fundamental business resource. Places long term goodwill over short term gain)

  8. Entrepreneurial background and characteristics • A number of studies have focused on the other areas of childhood family environment, education, age and work history • Entrepreneurs have been found to have a few personality, background and other characteristics in common

  9. Common characteristics of successful entrepreneurs • High need for achievement • Internal locus of control (feel that they control their fate largely through their own efforts) • High tolerance for ambiguity (tolerance of ambiguous and ever changing environment)

  10. Thank you

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