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Session 3

Entrepreneurial traits and motivation are an indispensible function of management. Entrepreneur is human being who has his dignity, selfrespect, values and responsibilities. In order to achieve success in any venture a person must possess a judicious combination of knowledge, skill and motive.

Initiative Looking for Opportunity Persistence Information Seeker Quality Consciousness Commitment to work Commitment to Efficiency Proper Planning Problem Solver

Self Confidence Assertive Persuasive Effective Monitoring Employees Welfare Effective Strategist

1.Mental ability 2.Clear objectives 3.Business secrecy 4.Human relation ability 5.Communication ability 6.Technical Knowledge

James J.Berne has stressed the following qualities of a good entrepreneur: He is energetic,hardworking,resourceful,aware of new opportunities and able to adjust himself to changing conditions with ease. He is interested in advancing technologically and in improving the quality of his product or service. He is interested in expanding the scale of his operations by reinvesting his earnings.

He visualizes changes and adapts to changing conditions. He is a firm believer in planning and systematic work. He works for the society at large and for the good of his fellow beings.

Decision Making Leading by Example Setting Standards Multi Tasking Building Relationship Creativity Dedication Commitment Mission Vision

Resolving Conflicts Team Player Approachable Appreciating Skills Integrity Trust Passion Compassion Capability

Involvement Presence of Mind Energy Clarity of Thought Patience Daring to Dream Sincerity Trust Honesty

Visualization Planning Risk-taking Ability to deal with situations Elicit positive response from administrators,bankers,infrastructure institutions, clients and employees Understanding of marketing, quality control,finance,banking,commercial law, government regulations and procedures, taxation and human relations

Awareness of technology,tools,equipment and machinery Knowledge of the product,processes,packaging,advertising and market potential

Thrifty Hard work Vision Willingness to assume risks Curiosity Insight into the relationship between concepts,objectives,needs and needs satisfaction Sound Judgment Initiative and creativity Ability to marshall resources Administrative ability to organize those resources

1.Gaining first hand knowledge about Competencies 2.Competency Recognition 3.Self Assessment 4.Comparision of Competencies 5.Developing Competencies and Feedback 6.Motivation