Q.Explain the essential qualities that a successful entrepreneur should possess.

Success in enterprise depends on a set of personal qualities that can be developed through effort.

A successful entrepreneur generally possesses the following essential qualities:

• Risk-taking ability — willingness to take calculated, well-judged risks.
• Innovativeness and creativity — thinking of new ideas and better ways of doing things.
• Initiative and self-confidence — acting on opportunities and believing in one's ability.
• Hard work and perseverance — sustained effort and determination through difficulties.
• Decision-making ability — taking sound, timely decisions under uncertainty.
• Leadership and team-building — motivating and guiding employees towards common goals.
• Foresight and vision — anticipating future changes and planning ahead.
• Organising and managerial ability — arranging men, materials, money and machines efficiently.
• Communication and human-relations skills — dealing well with customers, staff, suppliers and officials.
• Need for achievement — a strong inner drive to accomplish goals. …

Treating these qualities as purely inborn 'talent'. Most are competencies that can be built through entrepreneurship development training and practice. A …