Q.Explain the characteristics of entrepreneurs.

A successful entrepreneur is innovative, a calculated risk-taker, hard-working and self-confident, a good leader and decision-maker with vision and foresight, strongly motivated by the need for achievement, and skilled at organising men, money and materials. ## Characteristics of Entrepreneurs 1. Innovativeness — An entrepreneur introduces new products, new methods of production, new markets or new forms of organisation; innovation is the heart of entrepreneurship. 2. Risk-taking ability — He is willing to bear the uncertainty of business and takes calculated, moderate risks rather than reckless or no risks. 3. Hard work and self-confidence — He works tirelessly and has firm belief in his own abilities to turn an idea into a working enterprise. 4. Leadership and decision-making — He leads and motivates his team and takes prompt, firm decisions on production, finance and marketing. 5. Foresight and vision — He can anticipate future changes in demand, technology and the market and plans his business accordingly. 6. Need for achievement — He has a strong urge to achieve goals, grow and excel rather than merely earn a living. 7. Organising ability — He brings together and coordinates the factors of production — men, money, machines and materials — efficiently. These qualities together enable an entrepreneur to convert an …