DEVELOPING

ENTREPRENEURIAL TRAITS
AND COMPETENCIES
Dr. D.D. SHARMA
Professor & Head
Entrepreneurship Development & Industrial Coordination
(EDIC) Department
NITTTR, Chandigarh
[Visiting Faculty, Asian Institute of Technology, Bangkok]
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 DEFINITION

Entrepreneurship is a process which

identifies product by scanning the

environment, starts its production,

and sells in market to earn profit.

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DEFINITION OF ENTREPRENEURSHIP
“I am often asked how to define an entrepreneur
entrepreneur..
My first answer is anyone who has five qualities :
First : Motivation beyond monetary incentives
Second:: The ability to do work one doesn’t like as
Second
effectively as work that one does
does;;
Third::
Third Needs little sleep and takes a few
holidays;;
holidays

Fourth : Never worries about a pension

Fifth : Is not afraid to lower one’s standard of
living”..
living”
Lord Swaraj Paul
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 DEFINITIONS OF ENTREPRENEUR
An entrepreneur is a dynamic agent of
change or the catalyst who transforms
natural and human resources into
production possibilities.
Entrepreneurship is a creative activity,
the entrepreneur being an innovator
who introduces something new into
the economy.
Joseph Schumpeter

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Entrepreneur is an innovative person with
unique personality who effectively
combines the production factors into an
enterprise and shifts these from low level
of productivity to a higher level of
productivity and greater yield
yield.. He / she
transforms resources into production
possibilities, manufacturers and sells the
product in the market and earns profit.
profit. He
/ she contributes to economic growth
(GDP) and provides employment to people.
people.
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 CHARACTERISTICS OF ENTREPRENEUR
n The entrepreneur has an enthusiastic
vision, the driving force of an
enterprise..
enterprise
n The entrepreneur's vision is usually
supported by an interlocked collection
of specific ideas not available to the
marketplace..
marketplace
n The overall blueprint to realize the
vision is clear, however details may be
incomplete, flexible, and evolving
evolving..
n The entrepreneur promotes the vision
with enthusiastic passion.
passion. 6
n With persistence and determination,
the entrepreneur develops strategies to
change the vision into reality.
reality.

n The entrepreneur takes the initial

responsibility to cause a vision to
become a success
success..

n Entrepreneurs take prudent risks.

risks. They
assess costs, market/customer needs
and persuade others to join and help
help..
n An entrepreneur is usually a positive
thinker and a decision maker.
maker.
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 NEED FOR ENTREPRENEURSHIP

n Fighting problem of unemployment

n Increasing national production
n Dispersal of economic power
n Weakening monopoly
n Reinvesting the profit in area of
generation
n Balanced regional development
n Harnessing vigour of youth
n Tackling the problems youth unrest
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 NEED OF ENTREPRENEURSHIP
Wage vs. Self - Employment
Wage-Employment Self-Employment

1. Nature Self-saturating Self-generating

2. Scope Limited Unlimited
3. Orientation Routine type Creative
Status quo Innovative
Problem Avoiding Problem solving
Dependent Independent (decision)
4. Satisfaction Through compliance Through pursuing urge
5. Contribution Consumes National Generates National
wealth wealth
6. Earning Fixed (subsistence) Growing & Generating
surplus
7. Status Employee Employer
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GENERAL TRAITS OF ENTREPRENEURS
1. High need for achievement
2. Internal locus of control
3. High need for independence
4. High need for leadership
5. High need for autonomy
6. Information processing capabilities
7. Low conformity
8. Aggression, support and benevolence
9. High energy level, risk taking and change
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GENERAL TRAITS OF ENTREPRENEURS

10. Dominance, endurance, innovation, self-

self-
esteem, low anxiety level and cognitive
structure..
structure
11. Low interpersonal effects, social
adroitness, low harm avoidance, and low
succourance.
12. Negotiating
13. Influencing
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GENERAL TRAITS OF ENTREPRENEURS

14. Ability to organize, evaluate and execute plans.

15. Problem solving
16. Self--confidence
Self
17. Perseverance, foresightedness, and time
bound ness
18. Self--discipline
Self
19. Initiative
20. Forward looking

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 TRAITS OF WOMEN ENTREPRENEURS
1. Risk taking
2. Focus
3. High energy level
4. Personal motivators – married, first borne,
self--employed father
self
5. General business management skills
6. Social adroitness
7. Interpersonal skills
8. Competence in finance
9. Competence in nurturing & managing
relationship
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 TRAITS OF WOMEN ENTREPRENEURS
10. Sharp communication skills
11. Instinctive people skills
12. Nurturing integrating abilities
13. Consensus building competencies
14. Harmonistic skills
15. Fostering mutual respect
16. Improving ethical standards
17. Improving health
18. People skills
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 TRAITS OF WOMEN ENTREPRENEURS

19. Web--thinking
Web
20. Drive to nurture
21. Making things happen
22. Driven and confident
23. Intelligent and innovative, but no ‘A Grade’
students..
students
24. Challenging and changing the status quo
25. Big dreamers
dreamers..

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 PERSONALITY PROFILE OF
MALE VS. FEMALE ENTREPRENEURS
1 2 3 4 5

Passive Energetic

Affiliative Independent

Non--competitive
Non Competitive
Private Social

Realistic Idealistic

Unsure Self--confident
Self

Tolerant Perfectionist

Relaxed Anxious
Rigid Flexible

Uncertain Goal--oriented
Goal

Specialist Generalist
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 21ST CENTURY ENTREPRENEURS
Past entrepreneur 21st Century entrepreneur

1. Planner 1. Visionary
2. Organiser 2. Leader
3. Controller 3. Strategist
4. Motivator 4. Learner
5. Risk-
Risk-taker 5. Builder
6. Stake holder 6. Achiever
7. Profit maker 7. Value provider
(profit giver)

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ENTREPRENEURIAL COMPETENCIES

Initiative

Sees and acts on opportunities

Persistence

Information seeking

Concern for high quality work

Commitment to work contract

Efficiency orientation

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ENTREPRENEURIAL COMPETENCIES

Systematic planning

Problem solving

Self--confidence
Self

Assertiveness

Persuasion

Use of influence strategies

Monitoring

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These competencies can be developed
through conduct of Entrepreneurial
Awareness Camps (EACs) and
Entrepreneurship Development
Programmes (EDPs) in Technical
Institutions..
Institutions In addition,
entrepreneurship development may be
taught as a subject in engineering
diploma and degree curriculum.
curriculum.

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Thanks
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