Entrepreneurship and Characteristics of an Entrepreneur

Entrepreneurship and characteristics of an entrepreneur are key factors that define the success and sustainability of any business venture. A successful entrepreneur is an asset to a company, as they uplift the organization with the right attitude, firm determination, and a strong sense of self-belief and optimism in their skills and abilities.

In the study of characteristic of an entrepreneur, one of the most discussed questions among researchers is whether entrepreneurs are born or made. Regardless of this debate, researchers have identified several traits of an entrepreneur that play a vital role in their success. Although entrepreneurs come from diverse family backgrounds, geographical locations, and educational institutions, they often share common qualities that distinguish them from others.

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A victorious entrepreneur has a combination of traits such as being self-motivated, possessing leadership skills, taking calculated risks, being innovative, ethical, competitive, determined, passionate, resilient, self-possessed, and goal-focused.

This unit addresses the most fundamental qualities of a good entrepreneur and describes the resources to consider. It also illustrates the SWOT analysis with its advanced types. On completion of this unit, candidates will be able to evaluate their capacity for risk and apply entrepreneurial traits effectively in real-world business situations.

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