Presentation on theme: "Entrepreneurial attributes Dr.Daleep Parimoo. Attributes of an Entrepreneur Out of Box Thinker One who thinks differently. One who On that lonely island."— Presentation transcript:
Attributes of an Entrepreneur Out of Box Thinker One who thinks differently. One who On that lonely island did not think of no demand but 100% Demand for foot-ware as nobody wore them yet Innovator Who sees and seizes the need for innovation. In a World of Personal Banking, it took an innovation at Citi bank.To Conceptualize the ATM Creativity Satyagraha A-Sahiyog Andolan The world moves along with the beaten track. But it stops to watch the one who creates his own way as Gandhi ji did With his idea of Satyagraha and A-Sahiyog Andolan Openness to ideas Adi Godrej says that he was once a virtual dictator But he realized the virtue of being open to ideas. It Was idea of jack Smith, the friend that Sabeer Bhatia Accepted and HOTMAIL has created History.
Pamberton did not make Cola in a single day. Edison did not do so with us of electricity Risk Taker Hotmail did well. Aarzo did not. But the risk Has to be taken. One can n’t stop the story with One risk. An Entrepreneur is a romaticizer of Risk. Arthur Martinez says RISK IS WHY I AM HERE.THAT THE THRILL. WHAT SETS THE HEART BEAT FASTER Undeterred by failure Success or failure does not change the person Who is the entrepreneur. He remains the same Person. Sabeer is undeterred by his failure in his venture Aarzo.com after he tasted success With HOTMAIL Opportunity Seeker They see Glass half empty. Yes Half Empty and Pounce on the opportunity to fill it up. Sunil Mittal saw the opportunity and changed the Face of Indian telecom scenario. Perseverance and Patience
John Pamberton was working as assistant for Kellogs. He was a man with yearning creativity. Every two Months he created something new- Be it cereal, some Capsule or whatever. With big dreams he left the job To start his own venture. It never took more than a couple of Months for his business to fail and every time he returned to Kellongs. Again he created something! He called it a drink. It looked Horrible! Black, Frothy and now he did not leave his job. He Was asked to do so? However, he again started his new venture. Guess What? He tasted success! His new venture rewrote history. He Guided his dream to reality that saw his drink become Number 1 Brand for over decades. The US Government was Almost declaring it as a National Drink. That Black Frothy Liquid is today known to COCA COLA this world as COCA COLA This is what is called entrepreneurship
Entrepreneurs...Traits Self-confident and optimistic Able to take calculated risk Respond positively to changes Flexible and able to adapt Knowledgeable of markets Able to get along well with others Independent minded
Entrepreneurs...Traits II Energetic and diligent Creative, need to achieve Dynamic Leader Responsive to suggestions Take initiatives Resourceful and persevering Perceptive with foresight Responsive to criticism
ENTREPRENEURS ARE ACHIEVEMENT ORIENTEDACHIEVEMENT ORIENTED HARD WORKINGHARD WORKING NON-CONFORMISTNON-CONFORMIST STRONG LEADERSTRONG LEADER TOUGH MINDEDTOUGH MINDED SELF-CONFIDENTSELF-CONFIDENT RISK-TAKERRISK-TAKER FLEXIBLEFLEXIBLE GOAL-SETTERGOAL-SETTER ENTHUSIASTICENTHUSIASTIC OPTIMISTICOPTIMISTIC RESOURCEFULRESOURCEFUL INDEPENDENTINDEPENDENT How Can You Become More Entrepreneurial?
ENTREPRENEURS BEHAVE DIFFERENTLY BECAUSE THEY... Risk their own money Must find customers to survive Organize their own work Are vulnerable to economic change Have income that varies with market success Make all the final decisions Need a wide range of management skills Handle diverse activities at the same time Depend on their own ability to market and sell Work longer hours...at least at first Are open to change as a necessity of existence
Competency A Competency is an underlying characteristic of a person which enables him /her to deliver superior performance in a given job, role or a situation. They consist of clusters of knowledge, attitudes and skills that affect an individual’s ability to perform.
COMPETENCIES Initiative- acting out of choice rather than compulsion, taking the lead rather than waiting for others to start. Sees and Acts on Opportunities- A mindset where one is trained to look for business opportunities from everyday experiences. Persistence- A ‘never say die’ attitude, not giving up easily, striving Information seeking continuously until success is achieved. Knowing- Knowing who knows, consulting experts, reading relevant material and an overall openness to ideas and information. Concern for High Quality of Work- Attention to details and observance of established standards and norms. Commitment to Work Contract- Taking personal pains to complete a task as scheduled
COMPETENCIES Efficiency Orientation- Concern for conservation of time, money and effort. Systematic Planning- Breaking up the complex whole into parts, close examination of the parts and inferring about the whole; e.g. simultaneously attending to production, marketing and financial aspects (parts) of the overall business strategy (the whole). Problem solving- Observing the symptoms, diagnosing and curing. Self-confidence- Not being afraid of the risks associated with business and relying on one’s capabilities to successfully manage these. Assertiveness- Conveying emphatically one’s vision and convincing others of its value. Persuasion- Eliciting support of others in the venture. Use of Influence Strategies- Providing leadership. Monitoring- Ensuring the progress of the venture as planned. Concern for Employee Welfare- Believing in employee well being as the key to competitiveness and success and initiating programmes of employee welfare.
Thinking Like an Entrepreneur On a trip down south, at Nagpur you marvel at the size of the oranges and the price at which they are available. You buy in dozens and consume these merrily en route. This is consumer’s mindset. On the contrary, an entrepreneur may buy and enjoy the oranges as well, MAY also start thinking what if I arrange for their transportation and sale at HIS place… if volume-weight factor and perish- ability is the constraint how about packaged orange juice… where would the technology come from, Italy? Would Indians like to consume packaged juices when by the roadside they can get fresh juice? … Exports? Which are the countries that could serve as the potential market? What would be their quality expectations? …