Question

Summarize the major themes addressed in the assigned chapters of Good to Great Identify the characteristics of a successful entrepreneur and the characteristics of a successful business idea, The book Good to Great by Jim Collins on Chapter 2

Answer 1

While talking about entrepreneurs and their success, there are certain characteristics that they should possess which will give them the opportunity to make it big. The characteristics of a successful entrepreneur are:

1. The individual should not be afraid of taking risks because it is this characteristic that will help the individual in making it big.

2. The individual needs to be adaptable and flexible so that it can work in situations of changing environment.

3. The person should possess passion for work which will give them motivation to do their work effectively.

4. Market knowledge is a must and without that no entrepreneurs can ever be successful, hence the person should possess the same.

5. The individual should possess self belief and needs to do hard work in order to make any idea or plan successful in the business context.

The characteristics of a successful business are:

1. The business should possess a visionary and knowledgeable leader who will help the organization and support it whenever required.

2. The structure of the business should be proper without any loopholes that will help the organization in making the venture effective and successful.

3. Financial literacy is something that the organization should possess which will help them in achieving whatever they require in terms of capital.

4. A proper and positive work environment is mandatory to make a business successful and without that it is actually difficult for the organization to cope with the competition.