Q.What are the characteristics of Entrepreneur ?

An entrepreneur organises resources and bears risk to run an enterprise. For this TS Intermediate 2nd-year Commerce 5-mark question, list and briefly explain the key personal characteristics of a successful entrepreneur.

Meaning

An entrepreneur is an individual who conceives a business idea, brings together the land, labour, capital and organisation needed, and assumes the risk and uncertainty of running the enterprise in the hope of profit.

Characteristics of an Entrepreneur

1. Innovativeness and creativity — introduces new products, methods or markets and thinks differently.
2. Risk-bearing capacity — willing to take calculated business risks and face uncertainty.
3. Hard work and perseverance — puts in sustained effort and does not give up easily.
4. Self-confidence — believes in own abilities and decisions.
5. Decision-making ability — takes prompt and sound decisions under uncertainty.
6. Leadership and organising ability — guides, motivates and coordinates the team and resources.
7. Vision and goal orientation — has a clear vision of the future and works towards defined goals.
8. Optimism and positive attitude — stays hopeful and sees opportunities in problems.
9. Communication and human relations — deals effectively with employees, customers and investors. …