Question-   Role of Entrepreneurs in Economic Development

Solution-

It is irrefutable that entrepreneurship brings development into our economy with new products and services. They drive a country's economy towards improvement and progress. The unique kind of attributes and traits of entrepreneurs separate them from different business managers. Since entrepreneurs are the individuals who initiate the business venture with pioneering ideas, thereby effective qualities and attributes of successful entrepreneurs will undoubtedly be indistinguishable from business managers or another business person.

  • Great visionary and passionate

The foremost trait that differentiates successful entrepreneurs is that they have a distinct vision of their startup and the capability to squeeze out short term and long term goals in order to reap that vision effectively. They are passionate about the work and love the execution they have undertaken due to which they strive to make the most out of it.

Business enterprise is an intense game, and is absolutely not implied for the individuals who can't withstand troublesome occasions and stay self-motivated, henceforth their passion builds up their pioneering mentality and inspiration to begin a new venture with an innovative idea and go over the troublesome at the time of execution. Mark Zuckerberg had great zeal towards technology, to be precise an attachment to technology since early age of life. At the age of 12 he developed messaging program and various computer games during high school. Later on his enduring passion led him to become one of the most successful entrepreneurs of today’s generation.

  • Quick mover and acknowledge feedback

In any case, when most organizations develop, they delayed down after some time in light of the fact that it is possible that they are excessively scared of meeting risks or they fear committing errors. On account of this attribute of moving quick, Mark Zuckerberg had been able to make progress in minor 10 years which took 30 years by Bill Gates to accomplish.

Successful entrepreneur is one who admits other’s feedback and does not become complacent about peoples’ and his employees’ response and hence consistently look after reviews of users and react accordingly.

  • Creative and never stop learning.

In the territory of entrepreneurship innovation implies success and that innovation is ignited through creativity. They witness opportunities in spots where others may not and think outside the box and introduce new product and services that sometimes alters or revolutionize the globe. In addition, entrepreneurs are well acquainted about power of learning and hence they learn and enhance their wit consistently as they are in thirst of knowledge, thus read rack of books, attend several conferences, devour magazines, articles and blogs.

  • Want to compete and win.

Business people can't be everyone's companions while some succeed and some loose since it is nature of business. Thereby, successful entrepreneurs need to win, like the challenge and flourish with the possibility of beating the competition.  At last, the point of an entrepreneur is to be superior over the competitors and this thirst to win leads to bloom.  

  • Resilience

Regardless of how fruitful your business might be, there will be knocks along the street. An effective business person is strong and can skip over from a catastrophe. They use misfortunes as a chance to learn and develop and comprehend that disappointment just as a piece of the game.

  • Self-motivation and creation of network

Since there is enduring of ups and downs in a business ventures and the entrepreneurs do not keep themselves dejected and down-hearted at the times of blunders else they are self-motivated as they are the one who become admired by whole employees. Also, they have a better quality of creating network, connects with several people devises enhanced partnership and relation with vendors.

  • Unafraid of taking risks and receptive.

The risk is a very nature for the entrepreneurship as there's no assurance whether business will succeed, so an entrepreneur takes a risk that his thought will be one that makes it because he sees the bigger vision of what his ideas could fetch and is happy to place investments into making his fantasies a reality by taking risk. They are unafraid of outcomes that emerges else they have capacity to adjust and well receptive to the issues that surfaces. Also, the receptiveness ability of entrepreneurs considers the priority to other's needs, opinions and ideas.

  • Confident and strong work ethics

Every successful entrepreneur in the world has self-belief in themselves that their innovative ideas, plans and ability achieve their goals gracefully. So as to be an effective entrepreneur in the present quick paced world, ability, the scholarly qualifications and capabilities are insufficient. Most importantly, being assertive at work is the key as it will positively effect at working environment yet additionally better decision making. They are confident enough that their insight and their skill will enable them to make their business ides to a success and spread out this assertiveness in everything that they accomplish for the business. These people are those who ensure that they come to the office during their off days, if needed, just to ensure that the outcomes meet their expectations. The successful entrepreneurs are those who always have their mind in their work, even if they are not in their workplace.

  • Winning mindset.

As of Steve jobs, Passion devises strong mentality and motivate to encounter difficult endeavors. Therefore, mindset is one of the most imperative factors that keep entrepreneurs apart and complacent from the rigorous situation. For instance, ultimately the Steve’s dream comes true of making Apple an inheritance even after once who was very closest to bankrupts. Jack Ma is an optimistic entrepreneur due to which he has a strong control over mindset thus has a great vision of future. Thereby, optimistic and winning mindset personality in an entrepreneur helps to bouncing back after failure, generating new ideas and creative thinking, supportive to maintain persistence which is the most to sow the seed of success in an enterprise.

Conclusively, one can inculcate above mentioned traits while desire is to become a successful entrepreneur since successful entrepreneurs have extraordinary qualities, capabilities and inspiration that enable them to be victorious.

 

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