Entrepreneurship

state four Characteristics of an entrepreneur and briefly explain the stated characteristics

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Expert Solution

For entrepreneurship to be successful is required to have the following characteristics which determines the success rate of his /her venture;

Risk-taking capability: every business has a risk of time money etc .so an entrepreneur must have the risk-taking capability.
Creativity and innovation: an entrepreneur has an initiator who possesses creativity and innovative power.
Need for achievement: the entrepreneur has a strong desire to achieve the goal of business. he is always driven by the need for achievement.
Need for autonomy: an entrepreneur does not like to be under anybody. it is the need for autonomy that drives a person to be an entrepreneur.
Internal locus of control: an entrepreneur believes in him his work/personal discipline.
External locus of control: he also believes in fate for the ultimate result.
Self-confident: an entrepreneur has confidence in him.
Leadership capability: an entrepreneur must have leadership capability to lead works under him
Industriousness: a successful entrepreneur must have leadership capability to lead workers working under him.

1. Risk-taking capability
2. Creativity and innovation
3. Need for achievement
4. Need for autonomy

5. External locus of control

joseph irungu answered 2 years ago

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