Q.Explain any five characteristics of an entrepreneur.

An entrepreneur is a person who starts and runs an enterprise by spotting an opportunity, arranging resources and bearing risk. Five important characteristics are innovativeness, willingness to bear risk, self-confidence and initiative, sound decision-making, and leadership/organising ability. ## Who is an entrepreneur An entrepreneur is a person who conceives a business idea, brings together the land, labour, capital and organisation needed, and takes the risk of running the enterprise in the hope of profit. In the AP Intermediate 2nd-year Commerce course, the qualities that make an entrepreneur successful are studied under this chapter. ## Any five characteristics 1. Innovativeness — An entrepreneur is creative: he introduces new products, new methods of production, new markets or new forms of organisation rather than merely copying others. Innovation is what distinguishes an entrepreneur from an ordinary businessperson. 2. Risk-bearing — Business outcomes are uncertain. An entrepreneur willingly accepts calculated risks and the possibility of loss, because reward comes only to those who take risk. 3. Self-confidence and initiative — A successful entrepreneur has faith in his own abilities, takes the first step without waiting for others, and is not easily discouraged by difficulties. 4. Sound decision-making — An entrepreneur must make many decisions — what to produce, how much, where to sell, how to finance — often with limited information. The ability to take correct and timely decisions is essential. 5. Leadership and organising ability — An entrepreneur guides, motivates and coordinates the people and resources of the enterprise, acting as a leader who gets work done through others and keeps the organisation running smoothly. (Other commonly listed qualities include hard work, perseverance, foresight and a high need f …