Welcome to ABC@VITTBI

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Welcome to ABC_at_VITTBIEntrepreneurial Traits

• B. Murali Manohar
• Asst. Professor Coordinator (Research,
  Consultancy and Placement)
• VIT Business School
• VIT University

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Entrepreneurial Traits

• McClelland has summarized the following
  characteristics of successful entrepreneurs
• Pro-activity
• Achievement orientation
• Commitment to others

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Pro-activity

• Initiative
• (does things before being asked or forced by
  events)
• Assertiveness
• (confronts problems with others directly. Tells
  others what they have to do)

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Achievement orientation

• Sees and acts on opportunities
• (seizes unusual opportunities to start a new
  business, obtain financing, land, work, space or
  assistance)
• Efficiency orientation
• (looks for or finds ways to do things faster at
  less cost)

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Achievement orientation-contd.

• Concern for high quality work
• (states a desire to produce or sell a top-or
  better quality product or service)
• Systems planning
• (breaks a large task down into subtasks or sub
  goals. Anticipates obstacles, evaluates
  alternatives)
• Monitoring
• (develops or uses producers to ensure that work
  is completed or that work meets stds. of quality)
  

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Commitment to others

• Commitment to work contract
• (makes a personal sacrifice or expands extra
  ordinary effort to complete a job. Pitches in
  with workers or works in their place to get job
  done)

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Commitment to others-contd.

• Recognizing the importance of business
  relationships
• (acts to build rapport or friendly relationships
  with customers. Sees interpersonal relationships
  as a fundamental business resource. Places long
  term goodwill over short term gain)

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Entrepreneurial background and characteristics

• A number of studies have focused on the other
  areas of childhood family environment, education,
  age and work history
• Entrepreneurs have been found to have a few
  personality, background and other characteristics
  in common

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Common characteristics of successful entrepreneurs

• High need for achievement
• Internal locus of control
• (feel that they control their fate largely
  through their own efforts)
• High tolerance for ambiguity
• (tolerance of ambiguous and ever changing
  environment)

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Thank you