Transcript pps

Entrepreneurial attributes
Dr.Daleep Parimoo
Attributes of an Entrepreneur
•Out of Box Thinker
One who thinks differently . One who On that lonely island did not think of
no demand but 100% Demand for foot-ware as nobody wore them yet
•Innovator
Who sees and seizes the need for innovation. In a World of Personal Banking,
it took an innovation at Citi bank.To Conceptualize the ATM
•Creativity
The world moves along with the beaten track. But it stops to watch the one
who creates his own way as Gandhi ji did With his idea of Satyagraha and ASahiyog Andolan
•Openness to ideas
Adi Godrej says that he was once a virtual dictator But he realized the virtue
of being open to ideas. It Was idea of jack Smith, the friend that Sabeer Bhatia
Accepted and HOTMAIL has created History.
•Perseverance and Patience
Pamberton did not make Cola in a single day. Edison did not do so with us of
electricity
•Risk Taker
Hotmail did well. Aarzo did not. But the risk Has to be taken. One can n’t stop
the story with One risk. An Entrepreneur is a romaticizer of Risk.
Arthur Martinez says RISK IS WHY I AM HERE.THAT THE THRILL. WHAT
SETS THE HEART BEAT FASTER
•Undeterred by failure
Success or failure does not change the person Who is the entrepreneur. He
remains the same Person. Sabeer is undeterred by his failure in his venture
Aarzo.com after he tasted success With HOTMAIL
Opportunity Seeker
They see Glass half empty. Yes Half Empty and Pounce on the opportunity to fill it up. Sunil
Mittal saw the opportunity and changed the Face of Indian telecom scenario.
John Pamberton was working as assistant for Kellogs. He was a man with
yearning creativity. Every two Months he created something new-Be it cereal,
some Capsule or whatever. With big dreams he left the job
To start his own venture. It never took more than a couple of Months for his
business to fail and every time he returned to Kellongs.
Again he created something! He called it a drink. It looked Horrible! Black,
Frothy and now he did not leave his job. He Was asked to do so?
However, he again started his new venture. Guess What?
He tasted success! His new venture rewrote history . He Guided his dream to
reality that saw his drink become Number 1 Brand for over decades. The US
Government was Almost declaring it as a National Drink. That Black Frothy
Liquid is today known to
this world as
COCA COLA
This is what is called entrepreneurship
Entrepreneurs...Traits
Self-confident
Able
and optimistic
to take calculated risk
Respond
Flexible
positively to changes
and able to adapt
Knowledgeable
Able
of markets
to get along well with others
Independent
minded
Entrepreneurs...Traits II
Energetic
and diligent
Creative,
need to achieve
Dynamic
Leader
Responsive
Take
to suggestions
initiatives
Resourceful
Perceptive
and persevering
with foresight
Responsive to criticism
ENTREPRENEURS ARE
•ACHIEVEMENT ORIENTED
•HARD WORKING
•NON-CONFORMIST
•STRONG LEADER
•TOUGH MINDED
•SELF-CONFIDENT
•RISK-TAKER
•FLEXIBLE
•GOAL-SETTER
•ENTHUSIASTIC
•OPTIMISTIC
•RESOURCEFUL
•INDEPENDENT
How Can You Become More Entrepreneurial?
ENTREPRENEURS BEHAVE DIFFERENTLY BECAUSE THEY...
•Risk their own money
•Must find customers to survive
•Organize their own work
•Are vulnerable to economic change
•Have income that varies with market success
•Make all the final decisions
•Need a wide range of management skills
•Handle diverse activities at the same time
•Depend on their own ability to market and sell
•Work longer hours...at least at first
•Are open to change as a necessity of existence
ENTREPRENEURIAL COMPETENCIES
Competency
A Competency is an underlying characteristic of a
person which enables him /her to deliver superior
performance in a given job, role or a situation.
They consist of clusters of knowledge, attitudes and
skills that affect an individual’s ability to perform.
COMPETENCIES
Initiative- acting out of choice rather than compulsion, taking the lead rather
than waiting for others to start.
Sees and Acts on Opportunities- A mindset where one is trained to look for
business opportunities from everyday experiences.
Persistence- A ‘never say die’ attitude, not giving up easily, striving
Information seeking continuously until success is achieved.
Knowing- Knowing who knows, consulting experts, reading relevant material
and an overall openness to ideas and information.
Concern for High Quality of Work- Attention to details and
observance of established standards and norms.
Commitment to Work Contract- Taking personal pains to complete a task as
scheduled
COMPETENCIES
Efficiency Orientation- Concern for conservation of time, money and effort.
Systematic Planning- Breaking up the complex whole into parts, close examination of the parts
and inferring about the whole; e.g. simultaneously attending to production, marketing and
financial aspects (parts) of the overall business strategy (the whole).
Problem solving- Observing the symptoms, diagnosing and curing.
Self-confidence- Not being afraid of the risks associated with business and relying on one’s
capabilities to successfully manage these.
Assertiveness- Conveying emphatically one’s vision and convincing others of its value.
Persuasion- Eliciting support of others in the venture.
Use of Influence Strategies- Providing leadership.
Monitoring- Ensuring the progress of the venture as planned.
Concern for Employee Welfare- Believing in employee well being as the key to competitiveness
and success and initiating programmes of employee welfare.
Thinking Like an Entrepreneur
On a trip down south, at Nagpur you marvel at the size of the
oranges and the price at which they are available. You buy in
dozens and consume these merrily en route. This is consumer’s
mindset.
On the contrary, an entrepreneur may buy and enjoy the oranges
as well, MAY also start thinking what if I arrange for their
transportation and sale at HIS place… if volume-weight factor and
perish- ability is the constraint how about packaged orange
juice… where would the technology come from, Italy? Would
Indians like to consume packaged juices when by the roadside they
can get fresh juice? … Exports? Which are the countries that could
serve as the potential market? What would be their quality
expectations? …