Entrepreneurship: Skills and Traits for Success

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Schumpeter's theory of creative destruction...............................................................................3
Kirzner's theory of Alertness.......................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Entrepreneurship is capacity and readiness to organise, develop and run a business
operation, through with any of uncertainties for making profit. It is a process of launching,
developing and running a new enterprise along with ability of taking risk. The people who create
or manages these types of firms are referred to Entrepreneurs (Ferreira, Fernandes and Kraus,
2019). These are individual which have capability to inspect and act on opportunities to interpret
technologies and inventions into products and services.
Venture is defined as new business project or activity that undertakes risk. It is also refers
to as short form of any adventure which is done by individual that have ability to undertakes
risks and main aim is to earn profit. These are established by small business man by inventions
of new products and services with aim of fulfilling needs and desires of customers, in addition
with social welfare.
MAIN BODY
Due to Covid 19, many entrepreneurs has been thrown in more competitive environment
against large business enterprise by huge financial and resources. For thriving and remain
resilient in post Covid 19 there are many skills and traits which are necessary for successful
venture. Due to this crisis demand of online delivery grocery and food is rapidly rising in all
cities as people face many critical situation due to lock-down. As definitely this is a time when
all entrepreneur have to take right decisions for come out as successful leader. So for this they
have to possess certain skills and traits will they should put them for thriving in post of this
pandemic situation. Skill is defined as ability to perform an action by set upon results by given
amount of energy, time. In this, it mainly requires certain situations and environmental stimuli to
attain level of success (Morozova, Popkova, E.G. and Litvinova, T.N., 2019). There are many
skills that are performed by individual as technical, life, labour and so on.
Self regulation, this skills plays a vital role by managing emotions that will respond in
rational manner than in emotional. By this individual have to think before they act. Optimism,
this is most important skill that one have to need in post pandemic era for becoming successful
entrepreneur that they don't let fail in any task or project (Ahsan, 2020). There thinking is
always positive and they work to always succeed in it. This is not easy to sustain but it leads to
most critical for them. Creativity, people have to be creative in communicating that will leads to
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