Entrepreneurial Traits and Leadership Characteristics

This document discusses the entrepreneurial traits and leadership characteristics that are essential for success. It explores the importance of traits such as hard work, goal orientation, self-motivation, risk-taking, discipline, and teamwork. The document also delves into the role of communication, self-awareness, influence, and learning ability in effective leadership. It provides insights into different leadership styles and their impact on business organizations. Additionally, the document includes self-assessment tests to evaluate one's own leadership potential and enterprising skills.

Leadership

Table of Contents
PART-1...............................................................................................................................3
PART-2 ..............................................................................................................................5
REFERENCES..................................................................................................................9
Appendix .........................................................................................................................10

PART-1
Entrepreneurial traits and leadership characteristics
Entrepreneurial traits can be defined as the characteristics, abilities and thought
pattern which is related to success of entrepreneurs. Some entrepreneurs are born with
traits and some learn or develop as they are growing up. Some entrepreneurial traits
are:
 Hard Worker- Building a business and managing all the activities alone
require lot of hard work and time. Most successful entrepreneurs do lot of hard
work and invested their whole time in making strategies for how to develop
business or build good image in the market.
 Goal-oriented – Entrepreneurs set goals which they want to achieve in
their life and focus on how to accomplish those goals. They make short term and
long term goals and plans according to objectives. Most entrepreneurs are
successful because they focus on achieving goals and make changes in
strategies or find different ways for fulfilling their dreams.
 Self motivated- To be successful in life one should be self motivated and
no one else is responsible for achieving goals and targets. Only those persons
get success who are working hard and who wake up early in the morning and did
not take rest. Successful entrepreneurs also have positive attitude all time and
they think for future.
 Risk taker- Entrepreneur has to take risk for achieving goals and
objectives. Higher risk gives more profit and less risk then return is low. So,
entrepreneurs should who take more risk will be most successful.
 Disciplined – Entrepreneurs should be discipline, manage their time,
complete work properly, activities perform in systematic manner. They should
focus on how to achieve targets and if individual person want to be successful
then they should work hard and develop skills.
 Learner – successful people are good and constant learners. They are
always ready to learn new things which will help them in developing their skills
and enhancing knowledge. By learning new things entrepreneurs get ideas for
how to grow their business and create good reputation in market.
 Self aware – For becoming successful entrepreneur an individual should
have the ability to identify its strengths, weakness, opportunity and threats. This
will help in achieving goals easily because individual person know what are the
ways to handle situation.

 Team player – One of the entrepreneurial trait is to be a good team
player. Team work is important for everyone as responsibilities are divided
among members so it become easy to accomplish goals.
 Positive thinker – For smooth running of business entrepreneurs need to
identify problem, solution and focus on positive aspects. In business daily person
has to face problems but ot achieve target one should havee positive attitude
always and solve the problem quickly.
 Flexible and adaptability – Every day technology is changing and there
are many factors that can affect business. So, good entrepreneurs should have
the ability to adopt changes quickly and take decisions regarding how to handle
the situation.
So , these are some entrepreneurial traits that is important for successful
entrepreneurs. These are the abilities that is essential for achieving goals and
objectives of company.
LEADERSHIP CHARACTERISTICS
Leadership can be defined as the art of motivating or convincing group of people
to focus on achieving common goal of the organisation. In business it refers to as
giving directions to workers and colleagues, telling them strategy how to work and focus
on meeting needs of company. A leader is responsible for influencing workers to give
their best and contribute in accomplishing targets.
Characteristics of leadership
 Ability to delegate
It is one of characteristics of leadership which means that work or powers are delegated
to the team members so they feel motivated. It helps in boosting confidence of
employees as some powers are given to them. Team members are happy and satisfy
when they are given power to take decision.
 Communication
Good and effective communication helps in influencing more employees. This helps
leaders in motivating workers to work efficiently so that goals and objectibves can be
achieved.
 Self awareness
It is also one of the important characteristics of leadership because if leader does not
know about strengths, weakness, opportunity and threat then it is difficult to manage.
So, leader should focus on achieving targets of the company.

 Influence
It refers to influencing employees to work efficiently so that organisational goals are
achieved. Leader should give rewards, benefits, incentives for motivating workers to
focus towards achieving a common goal. Sometimes people get energy from incentive
they received or non monetary benefits.
 Learning ability
A leader should have the ability to learn new things. Learning helps in enhancing
knowledge of individual person and increases productivity of company, boost
confidence. At every stage there are many people and all are having different qualities
and knowledge, so a person should never stop learning. It will increase skills and
learning will help in future growth.
PART-2
The report is about the result of some tests which are related to leadership and
entrepreneurship as the through these tests, it demonstrates the way
entrepreneurial traits and leadership styles influence and add value to business
organizations.

From the leadership self-assessment test my final score was 24 and by
undertaking this test it gave me an opportunity for assessing and reflecting my
capabilities and also my desire for developing leadership skills. It involves all the
skills which are required by an individual to become a great and successful
leader. All these leads to translate the ideas and talent of human resources into
profitable businesses by better decision making (Holt, Hall. and Gilley,2018).
From the leadership test it was found out that it is almost always true that I
enjoy communicating with others. I also take feedbacks and ask questions which
helps in knowing my strengths and weakness. Also I have a high tolerance power
and flexibility (Johannessen. and Stokvik, 2018). I constructively criticize and
address to the problems and after all the analysis I found out that I am well on my
way to become a leader.
Also from the leadership test based on the style I came to know that I am
a very high range authoritarian leader. As I strongly agree that employees need
to be supervised properly otherwise they will not perform the task as per the
standards (Nazarian, Soares. and Lottermoser, 2017). I also strongly agree on
the point that employees need to be directed about the work which they have to
perform as they feel insecure about their work. A leadership style is the way or
method by which the leader provides direction, motivation to the employees. It
refers to a behaviour pattern of a person that helps in guiding and managing the
people under him or her (Prommer, Tiberius. and Kraus, 2020).
Also the democratic leadership style possessed by me is also on the very
high range which I get to know after undertaking this test. I agree on that fact that
key to be a good leader is to provide the guidance without any pressure from the
outside force. Subordinates must accept responsibility of the work to be
performed and completed and also leaders need to help them accept the same
(Cathro, O’Kane. and Gilbertson, 2017). I also believe that my job as a leader will
be to help my subordinates find out their passion so that they feel motivated and
strive to achieve their self-actualisation needs. I also agree on the point that
people are competent and when I will give them any work or task then they will
perform better.
My laissez-faire style of leadership comes under the moderate range as I
disagree that subordinates must be given freedom to work out on their own in a
complex situation. Also I disagree on the fact that leader must stay away when
the subordinates are working as subordinates possess less experience than the
leaders therefore a guidance must be provided on a regular basis and freedom of
actions must be provided to the subordinates (Adnan. and Valliappan, 2019). I
strongly agree on the rule that subordinates must appraise their own work and
leader musty allow the subordinate for the same Also I strongly agree that in

most situations little inputs are preferred by the subordinates on the part of
leader. But I strongly disagree on the point that subordinates must be left alone.
From different metrics I came to know that my creativity score is 78.76.
The matrix which determine the creativity level are abstraction, connection,
paradox, complexity, perspective, persistence, curiosity and boldness.
The second test was based on the enterprise potential in which agreement
and disagreement has to be given for thinking about enterprise. I also find
uneasy to stop of switch off the work completely and also I like to take up
challenging work that stretched my abilities as I easily get bored at the things
which I can do with ease. Also I have the steer to do the projects as my own way
without thinking about what others will think of me. I have the capabilities to
establish a new venture or if I may work in an organization would surely add on
something good to them.
The points at which I disagreed were that I find it easy to forget about the
work on the holidays and can relax properly within thinking or taking concern of
the same. Right place and right time is necessary to be successful and I will not
perform the work if there are chances of failure (Moldoveanu. and Narayandas,
2019). I also does not agree on the fact that I think more about the present and
past as compared to future. If I am facing any problem with the task which has to
be performed then I leave or forget the task. I tend to disagree that I would not
prefer to get a higher income in a job which depends upon my performance and
would settle for a secure job which have moderate income. There are chances of
improvements and also various leadership skills like time management, planning
are important (Hannon, 2018)
From all the above testing I got to know that I am occasionally enterprising
and there is high need for achievement in me as I have an orientation towards
the future and I reply on my own abilities. If the task needs my time or efforts
more than I am ready to give the same. As the need for achievement score is
medium which means that I am good are achieving the work and life balance.
I recognized that I am somewhat independent and the score is medium in
case of need of autonomy as I may be happy to work as an entrepreneur or also
as a valuable member of an organization. Also the score for the creativity was
medium as I am good at finding an applying new technologies in a very skilful
way.
The risk taking score was also medium as I am decisive and good at
judging when the information with me is complete and sufficient. Also I am good
at analytics and set goals which are challenging and attainable for myself. I can
manage the information effectively as I calculate the probability of success of the
actions.

After this test I got to know that the locus of control is high as I am an
opportunist and have self-confidence on myself. Also take responsibility on my
personal ends to achieve success and I am very determined to take control over
my life.
All the skills and capabilities which I possessed will helps in either starting
my own venture or working effectively in any organization using these core skills
that brings in innovation and creativity in the organization. A venture can be
successful if there is innovation and creativity into it and also suitable leadership
style is applied as per the situation.
Action plan
Skills to be
developed
How it will be
developed
In what time period
Presentation
skills
By enrolling into
online classes or
lecturers.
1 month.
Digital marketing
skills
Registering into the
digital marketing
course
3 moths

REFERENCES
Books and journals
Adnan, S.N.S.M. and Valliappan, R., 2019. Communicating shared vision and
leadership styles towards enhancing performance. International Journal of
Productivity and Performance Management.
Cathro, V., O’Kane, P. and Gilbertson, D., 2017. Assessing reflection: Understanding
skill development through reflective learning journals. Education+ Training.
Hannon, P.D., 2018. On becoming and being an entrepreneurship educator: a personal
reflection. Entrepreneurship & Regional Development. 30(7-8). pp.698-721.
Holt, S., Hall, A. and Gilley, A., 2018. Essential components of leadership development
programs. Journal of Managerial Issues. 30(2). pp.214-153.
Johannessen, J.A. and Stokvik, H., 2018. Evidence-based innovation leadership:
creating entrepreneurship and innovation in organizations. Emerald Group
Publishing.
Moldoveanu, M. and Narayandas, D., 2019. The future of leadership
development. Harvard Business Review. 97(2). pp.40-48.
Nazarian, A., Soares, A. and Lottermoser, B., 2017. Inherited organizational
performance? The perceptions of generation Y on the influence of leadership
styles. Leadership & Organization Development Journal.
Prommer, L., Tiberius, V. and Kraus, S., 2020. Exploring the future of startup leadership
development. Journal of Business Venturing Insights. 14. p.e00200.

Appendix
The enterprising is occasional.
The score on need for achievement is medium.
The score for need for autonomy is medium.
The score for creativity is also medium.
For calculated risk taking the score was high.
For internal locus of control also the score was high.