Importance of Entrepreneurship: Traits and Skills

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Critical analysis of entrepreneurial traits ans skills.....................................................................1
Practical application of guest entrepreneur for establishing a link between theory and practice.
.....................................................................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship is the capacity and state of developing, organising and running a
business organisation, apart from this ability of facing any uncertainties in order to make profits.
Its role in the economy is to improve standards of living and creating wealth, not only for the
entrepreneurs, but also for the related businesses (Wiklundand 2017). On the bases of economy
high earnings are the gift of entrepreneurs which also boost national income and tax revenues.
The person who has ability and desire to establish, administer and succeed in starting new
venture is known as entrepreneur. An entrepreneur has needs to have skills of human resource
management, marketing, decision making and finance. Apart from this, traits like having self-
confidence, innovativeness, stress tolerance and need of achievement are also important for any
entrepreneur. These things are important for entrepreneurs as they tend to have strong
communication skills and strength which help them interact with people. This report focuses on
the importance of entrepreneurship, different skills and traits which are required as entrepreneur.
MAIN BODY
Critical analysis of entrepreneurial traits ans skills.
Every entrepreneur assumes about the risks which may happen in business while they in
return rewarded with lots of pressure. That is why it is important that right entrepreneurial traits
which would get better position to fulfill their goals. The following are the traits which have
been discussed by one of the guest entrepreneur Faiza from Slync. She is entrepreneur in
company which provides social hiring tool to those candidates who wants to highlight their talent
and shares profiles with employers (Sutter,Bruton and Chen, 2019).
Point- Self-confidence
Explanation- It can be defined as the attitude of having skills and abilities which means
that entrepreneur accepts and trust the work done by him and has full sense of control in life.
Relate- Fazia from Slync expressed that for running her business she was and is confident
about the thinks she is doing by which she has seen that her work would get done easily. For
instance if she was not confident about her work, that time she either dropped that part and
handed over to her partner. By this meant that if you are not having confidence do not try to do
that thing, its is not sure that you would succeed that is why its ok to hand over to the other
person.
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