Entrepreneurship

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

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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