'Entrepreneurs Personality for Being Successful in Business\r'

'entrepreneurs Personality for cosmos Successful in Business Miss. Sarita Ghanshyam Tiwari, (M. Com. M. Phil. ) e-mail: [email&#clx;protected] com Abstract Business success whitethorn causes cod to some(prenominal) factors, tho the strikingest determinative of the problem success is the attemptr himself / herself. thitherfore, the question of what makes a no-hit entrepreneur is very important. in that location consume been many answers to this question. Some heap stand for entrepreneurs argon born, others that they be made. Some see entrepreneurs as passionate leadership with a vision that is issue forthly focused on mavin objective, while others describe them as exacting controller.\r\nSome thinks entrepreneurs be risk peers while others say they atomic number 18 risk averse. All of these words whitethorn describe some entrepreneurs but they do non describe either(prenominal) prosperous entrepreneurs. thither is no doubt that entrepreneur’s fleeceâ⠂¬â„¢s, ancestry knowledge and skills play an important notationament in blood line appendage and success, but the reputation of the entrepreneur is even to a greater extent important. Recent researches in the reach of psychology suggest that soulfulnessality has a great hole to do with being a thriving entrepreneur.\r\nThis opus highlights the spirit traits and essential factors of temper unfavourable of a booming entrepreneur and how does an entrepreneur’s record hind end influence a note. The paper likewise reviews some notable Indian entrepreneur’s and their entrepreneurial organise for uprightification of the topic. invention: Why received passel successfully offset and festering a stock and others are not? Is it just chance or being in the right place at the right sentence? Someone disregard say it is just fate while others corporation say it is timing. moreoer it also involves other factors too.\r\nRecent research in the disc ipline of psychology suggests that soulality has a great deal to do with being a successful entrepreneur. This may raise many questions in one’s mind such as what is meant by somebodyality? Can it be transgressed or is it natural? Which aspects does it escape? Is it re altogethery ingestful for an entrepreneur? Does it let any clashing on the assembly line growth? and so forth Personality Meaning: Many people mistake the meaning of in the flesh(predicate)ity. They take the somatogenetic demeanor and various external showcaseistics of an individual as his or her constitution.\r\nAs they talk about a terrific genius they may refer to the height, weight, stature and complexion. Well, if you think that it is just the port of the physique of a person that determines the temperament, consequently it is period to have a rethink. It is avowedly that material appearance does proceeds. However, since most of them are beyond our power and control. somatogenic a ppearance is just 10% of the total personality of an individual and not having a long lasting impact on others. There are many other aspects that gift greatly to one’s personality, which are 90% of the total personality.\r\nThese aspects involve character, behavior and military posture. Basically, personality culture is the onward motion of behavior, communication skills, interpersonal relationships, attitude towards demeanor and ethics. shell discharge be considered the basic factor in determining an individual’s personality. It is the fact that all other factors behind a powerful personality will become useless if the person lacks a good character and behavior. Personality is like a building. Just a building can make up only when it has a strong foundation, a personality can come to others only when it has a unnerving basis.\r\nAnd the strong foundation is supplied by character and behavior. If personality is developed on the solid base of determine and e thics, it will last forever. Fake smiles and mannerisms may get others for a comparatively short period. However, they are perfunctory and do not help in up(a) one’s personality. In order to peg this exactly take a look to a simple example. A book with decorative dissemble page may attract a person’s attention towards it but after looking for inner contents of that book a person can predict his opinion regarding it i. e. whether is it a seemly book or not?\r\nHere a decorative cover page does not carry a long lasting impact on that persons mind. Therefore, personality allows both factors i. e. physical appearance and dangerous foundation of good behavior and character. sensible appearance is that personality which creates first impression in forward of others that’s why it can be interpreted as the ‘primary or outer’ personality of an individual, while foundation is considered as ‘secondary or inner’ personality because it ha s second impact on others. It is not necessary that one should possess physical appearance because it is sometimes depends on the heredity factors of that person.\r\nIt is nonheritable type of personality and sometimes depends on the luck factor too. If a person got good looks therefore it adds to his plus point. We should remember that a person’s height, weight and complexion are not in his hand but he can take care to keep himself neat and clean to impress others. Thus, working on primary personality is necessary but only putting concentration on it is not sufficient. The best personality is based on the solid foundation of character. Good behavior and co-operation makes a man popular. But this strong foundation is not an inborn quality of a person.\r\nIt can be developed from one’s childhood and has impact of family, family background, friends, working area, society, regions and experience etc. These factors also contribute in maturation one’s character an d behavior. Does it require Certain Personality Traits to be a Successful enterpriser? Business may acquire due to many factors, but the greatest determinant of the affair’s success is the entrepreneur himself/herself. every year thousands of people take leave a short letter with the hope of being a successful entrepreneur. But many more backing organization either fails or dis come tos and others transfer acceptership or control.\r\nUnfortunately only 20% of those businesses will survive long enough to lionise their 5th anniversary and only 20% of those will survive long enough to celebrate their 10th anniversary. To save you doing the math, only 4% of all new businesses formed will survive at least 10 years. Therefore, for anyone who are starting a new business or already run a business the question of what makes a successful entrepreneur is very important. Because if business fails, it may not only cause for a loss with your personal savings and other assets, bu t it could give your ego a tremendous blow.\r\nSo that, before qualification an extraordinary investment of time, energy and money to start a business, an entrepreneur demand to engage himself in some personal soul-searching. He subscribe tos to develop some personality traits in himself so that he can successfully handle his business affairs. Without it the business can fail as quickly as it started. An entrepreneur is a business owner, a certification owner, or CEO of the social club. And entrepreneur’s duties include managing employees, acquiring resources, seeking venture crownism, handling finances, planning, time management, human resources, and more.\r\nThus, being an entrepreneur requires special skills. There is no doubt that entrepreneur’s diploma’s, business knowledge and skills play an important role in business growth and success, but the personality of the entrepreneur is even more important. â€Å"How strongly does the man of affairs belie ve in himself and the success of his business? ” â€Å"How decisive can the entrepreneur be in ever-changing threats into business opportunities? ” These are just a few of the situations that businessman must(prenominal) deal with, and not everyone can cope with these situations.\r\nSo people who start up and run business contract to know their own pluses and minuses, strengths and weaknesses, because self-knowledge with self-depth psychology is very important. However, selfâ€analysis demands an understanding of one’s own personality in relation to one’s behavior. There is no ‘ideal’ entrepreneurial personality- successful entrepreneurs can be analytical, fanciful, fearless, flexible and focused. However, psychologists and other business people describe that successful business entrepreneur; whether staminate or female have some familiar traits. Personality traits determines the behavior of an entrepreneur in certain ways i. . how he perceive situations, figure problems, interact with people and carry out the business responsibility. Factors find Personality Of A Successful Entrepreneur: tally to Webster’s dictionary, an entrepreneur is one who organizes, manages and assumes the risks of a business or enterprise. Entrepreneurs pull round in the future. They have creative personalities, are innovative, and succeed on change. Starting and increment own business requires many skills to be successful. The traits and characteristics of an entrepreneur’s personality can blend with the needs of the business.\r\nIf one better understand his/her business personality, then he/she can give a company the best part of them. An entrepreneur is determined by the following few outer personality factors, which are only 10% of his/her total personality: 1. Physical Appearance: It’s having a 50/50 born/made ratio and includes sound health, endurance, life sentence style etc. 2. Good Health: An entrepren eur has to put in hard work. This requires tremendous physical stamina to work long hours for extended periods of time. 3. Family solid ground: It’s an environmental factor and determines environmental heritage. 4. maturate and Education: It’s a functional matter . Work Experience: Most entrepreneurs first ca-ca some work experience in the line of business and then start up. In fire of the above outer personality an entrepreneur must have inner personality factors, which are the dangerous basis of his/her personality and contributes 90% of his/her total personality. Thus, all successful entrepreneurs will have the following personality traits in coarse. ? Never stop learning and growing ? Self confident ? Intelligence ? Respect to Others ? motivate Others ? Communication Skills ? Looking for opportunities everywhere ? Seeking advice from fitted people ? Invests in their future Supports their own business ? Problem solving skills ? Always trustfulness to work hard ? Competitive and have attraction towards Challenges ? sozzled management skills ? Willing to pay a legal injury ? Sense of Urgency ? Comprehensive Awareness ? abstract Ability ? Emotional Stability ? Always developing people’s skills ? A blessing to their fraternity ? Takes responsibility ? Realistic Outlook and Possess immense term thinking ? Objective Approach ? circumscribe goals and works towards those goals ? schemeal skills ? descentision making skills ? Optimism (Live by the doctrine that this is the best of times and that anything is possible) ?\r\nOrientation to excellence (often desire to achieve something outstanding that they can be proud of. ) ? Profit oriented ? Devotion towards his work ? humanism ? Never quit tendency This is the most neat collection of the characteristics of an entrepreneur and is truly the heartbeat of what characteristics are necessary to truly succeed as a business owner. These traits can be learnt through study, work and experience. An Entrepreneurs Personality can really influence a Business: We are in a more entrepreneurial period than we were in before the imprimatur World War.\r\nWith the close of the Second World War, a number of changes with far-flung effect on business world took place. Establishment of World Trade Organisation (WTO) obliged many countries to open up their boundaries and experience industries, trade and service companies. This added complex dimensions to the intensity to competition. plot of land these changes were taking place in organizational environment, customers attitude were also changed. Customers started demanding more value from the product and go that they bought in the food market. Naturally customer satisfaction and make whoopie become the goal to be achieved by organizations.\r\nThis emerges the need for developing entrepreneurial personality in business owners. Therefore today an entrepreneurship is more than the perfect first appearance of business. An entrepreneur has to do more than just run hard to win their market share. They must ‘live in the world of action’ and often ‘need thinking several steps ahead’. Entrepreneur’s sense of opportunity, their drive to innovate, and their capacity for act have become the standard by which an enterprise is now measured. The presence of entrepreneurs in an economy is a sign of economic growth.\r\nEntrepreneurs with their personality traits will continue to be critical contributors to economic growth through their leadership, management, innovation, research and development effectiveness, job creation, competitiveness, productivity and administration of new industry. Some Notable Indian Entrepreneurs and their entrepreneurial work: Dhirubhai Ambani : Born: downslopeember 28, 1932 Died: July 6, 2002 Achievements: Dhirubhai Ambani make Indias largest clubby sector company. Dhirubhai Ambani was the most enterprising Indian entrepreneur. His life journey i s reminiscent of the rags to riches story.\r\nHe is remembered as the one who rewrote Indian corporate history and strengthened a truly world(a) corporate group. Dhirubhai Ambani fictitious name Dhirajlal Hirachand Ambani was born on December 28, 1932, at Chorwad, Gujarat, into a Modh family. His father was a school teacher. Dhirubhai Ambani started his entrepreneurial calling by selling â€Å"bhajias” to pilgrims in Mount Girnar over the weekends. After doing his matriculation at the age of 16, Dhirubhai locomote to Aden, Yemen. He worked there as a gas-station attendant, and as a clerk in an oil company. He returned to India in 1958 with Rs 50,000 and set up a material trading company.\r\nAssisted by his two sons, Mukesh and Anil, Dhiru Bhai Ambani built Indias argest private sector company, creed India Limited, from a scratch. everywhere time his business has diversified into a magnetic core specialisation in petrochemicals with additional interests in elecommunica tions, discipline technology, energy, power, retail, textiles, infrastructure services, capital markets, and logistics. Dhirubhai Ambani is credited with shaping Indias beauteousness culture, attracting millions of retail investors in a market work on then dominated by financial institutions. Dhirubhai revolutionised capital markets.\r\nFrom nothing, he generated billions of rupees in wealth for those who put their trust in his companies. His efforts helped create an ‘equity cult in the Indian capital market. With innovative instruments like the convertible debenture, reliance quickly became a favorite of the stock market in the 1980s. In 1992, Reliance became the first Indian company to raise money in global markets, its high credit taking in foreign markets limited only by Indias sovereign rating. Reliance also became the first Indian company to trait in Forbes 500 list.\r\nThe Federation of Indian put up of Commerce and Industry (FICCI) named Dhirubhai Ambani the Ind ian Entrepreneur of the twentieth Century. A poll conducted by The Times of India in 2000 voted him â€Å"greatest creator of wealth in the vitamin C”. Ekta Kapoor: Born: June 7, 1975 Achievement: Creative Director of Balaji Telefilms. Ekta Kapoor can be aptly called as the reigning pantywaist of Indian idiot box industry. The serials produced by her company Balaji Telefilms are a great hit with the masses and are dominating all the major T. V. channels in India. Born on June 7, 1975, Ekta Kapoor is daughter of former Bollywood uperstar Jeetendra and babe of current Bollywood hero Tusshar Kapoor. Ekta Kapoor did her schooling from Bombay Scottish condition and later on joined Mithibai College. She was not implicated in academics and on the advice of her father ventured into TV-serial production at the age of 19. And soon she changed the face of Indian television industry and completely dominated it. Today, Ekta Kapoor is the creative handler of Balaji Telefilms. Her co mpany has produced more than 25 serials and each one is being shown, on an average, four times a week on different television channels. Ekta Kapoors serials have captured the imagination of masses.\r\nShe has broken all previous records of TV serial production and popularity in India. Her most notable television venture has been â€Å"Kyunki Saas Bhi Kabhi Bahu Thi” which began in 2000 and has leaded the TRP ratings in India. Her other famous serials include â€Å"Kahaani Ghar Ghar Ki”, â€Å"Kahiin To Hoga”, â€Å"Kavyanjali”, â€Å"Kyaa Hoga Nimmo Kaa”, â€Å"Kasamh Se”, â€Å"Kahin Kisii Roz”, â€Å"Kasautii Zindagi Kay”, â€Å"Kkusum”, â€Å"Kutumb”, â€Å"Kalash”, â€Å"Kundali”, â€Å"Bandini”, â€Å"Kitni Mohabat Hai”. For her entrepreneurial skills and achievements Ekta Kapoor was awarded with Ernst & Young (E&Y) Startup Entrepreneur of the twelvemonth award in 2001. Conclusions: Today an entrepreneurship is more than the mere creation of business. An entrepreneur has to do more than just fight hard to win their market share. This emerges the need for developing entrepreneurial personality in business owners. • An entrepreneurs personality includes two factors: 1) Outer Personality Factors i. e. Physical Appearance, Work Experience, Family Background, Age and Education, Good Health etc. 2) Inner Personality Factors i. e. Personality Traits Personality traits can be learnt through study and practice, they are the formidable basis for building inner personality of an entrepreneur.\r\n plot of land physical appearances, age, education, work experience are environmental factors, which are just outer part of an entrepreneur’s personality. • It is not necessary that one should possess physical appearance, family background, age, education and work experience but he should possess the personality traits to tackle business operations successfully, because an entrepreneur is not determined by age, gender, race, religion, intelligence or education but successful entrepreneur do have some common personality traits. Personality traits determines the behavior of an entrepreneur in certain ways i. e. how he perceive situations, solve problems, interact with people and carry out the job responsibility. • Entrepreneurs with their personality traits will continue to be critical contributors to economic growth through their leadership, management, innovation, research and development effectiveness, job creation, competitiveness, productivity and formation of new industry. 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