Q.Explain the characteristics of entrepreneurs.

Entrepreneurs are marked by risk-bearing, innovation, initiative, sound decision-making, leadership, foresight, hard work, self-confidence and a strong achievement drive.

Meaning

An entrepreneur is a person who identifies a business opportunity, organises the factors of production, innovates and bears the risk of running an enterprise for profit. These functions call for a special set of qualities.

Characteristics of Entrepreneurs

1. Risk-bearing - Willingness to invest capital and bear the uncertainty of profit or loss.
2. Innovativeness - Introducing new products, methods, markets or ideas.
3. Initiative and drive - Taking the first step and pursuing the venture energetically.
4. Decision-making ability - Taking prompt and sound business decisions.
5. Leadership and organising skill - Leading, motivating and organising people and resources.
6. Foresight and vision - Anticipating future changes and planning ahead. …