The Characteristics And Traits Of Good Entrepreneurs Essay

This study discusses about the well known enterprisers and their traits and features. Entrepreneur can be defined as “ one who shifts economic resources out of an country of lower and into an country of higher productiveness and greater output ” ( Lambing P, et. , al. , 1997 ) . Entrepreneurs are people who own, operate and take the hazard of a concern venture. Entrepreneurs identify the demands of the market place and they will provide service or merchandise to run into those demands. They assume hazard in their concern. Entrepreneurship is the procedure of running a concern of one ‘s ain ( Bolton B, et. , al. , 2004 ) . True enterprisers try to introduce and they can non halt being as an enterpriser. Persistent, originative, responsible, speculative, end oriented, independent, self confident, hazard pickings are few features of enterprisers.

History of Richard Branson:
Richard Branson is a celebrated British enterpriser and CEO of Virgin groups who was born in 1950. He was educated at Stowe school where he set up student magazine at the age of 16. In 1970 he founded virgin as a mail order retail merchant, shortly he opened a record shop and this was his major success in entrepreneurial life. In 1977 he signed many contracts to assist virgin Music to go the top six record companies in the universe. With now more than 150 companies in 30 states around the universe virgin expanded into travel, touristry, nomadic and so. In Feb 2007 virgin group announced their virgin Earth challenge undertaking which will take atmospheric nursery gases ( Cord J, 2008 ) .

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Features and traits of Richard Branson:
Richard Branson is good leader where his leading rule is based on the demands of handling other people with great regard. He is passing tierce of his clip in problem shot and tierce on advancing new merchandises and the remainder on advancing and marketing his concern ( Cord J, 2008 ) . He hires the bright people to actuate them and makes them delegates in his venture, where his delegates are the responsible individuals on the day-to-day operations of the company. Branson is holding the ability of when to endorse away from his new undertaking. He says everyone must cognize the art of deputation to run a concern and he should hold a strong duty. Richard has the quality of assisting people to run single concerns so that the company can run without him ( hypertext transfer protocol: // ) .

Richard Branson motivates his employees and satisfies them by handling them as of import squad participants and it is the important success for virgin Empires. He has effectual man-management power and clearly strong. He is really enthusiastic and he has people who see it as their occupation to harness in. He is taking good determinations at important phases where he will interrupt his concern in two sectors if it grows to a certain size. He feels that little houses run good and this is one of the major grounds as he manages to be a small cat in assorted hassles. Branson is really ambitious cat holding many lists to make and he is managed to acquire the biggest thoughts of it. He is risk taker and had tremendous energy in accomplishing it. He is populating his life to fullest with passion. He believes in doing difference where he delivers the service through employees to better the clients experience by invention. He has the flexibleness of altering to the concern environment ( hypertext transfer protocol: // ) .

History of Bill Gates:
Bill Gates is one of the well known enterprisers in the universe, where he is the laminitis of Microsoft. He is the richest adult male in the universe as he held the place for many old ages. He was born on October 28 in 1955 at Seattle. He was really intelligent at his immature age and good at maths and scientific discipline. Gates with his friends formed the ‘Lakeside coders group ‘ where the solved practical jobs utilizing computing machines ( Heller, R. , 2007 ) . Bill Gates studied at Harvard University there he worked with his friend to put up the computing machine industry. In 1975 the company Microsoft was formed and has become the standard Personal computer runing systems. Gates stepped down every bit Chief executive officer in 2000 and retired in 2008.

Features and traits of Bill Gates:
Bill Gates is holding an unthinkable vision and he has the ability to turn a concern into a surprising degree. He is good leader where he hires the best and superb employees to accomplish the administration ends. Gates motivates the employees by honoring them as he made many millionaires in his company. His vision was clear ; he thought that every desk should hold a computing machine as a tool to utilize in the hereafter. His cardinal demands are categorised b four elements air, H2O, fire, and Earth. He has a persuasive manner of direction and possesses good communicating with the work groups and adapts to new environments. He met on a regular basis his directors and that describes he is verbally contentious ( http: // ) .

He is sensitive to the emotional ambiance where he unable to give clear accounts for his actions. He is protective, supportive, loyal and paternal nature. Gates has a congenial personality and he lives in alone universe of imaginativeness. He was motivated by money and power all the clip which made him to take higher hazards in his life ( Heller, R. , 2007 ) .

Similarities and Differences of first two Entrepreneurs:
Comparing Richard Branson with Bill Gates both is holding few alone qualities between them. Their vision and leading were really clear and they predicted where they should be in following 20 old ages. They motivated their employees by honoring them and fulfilling their demands. Both hired they best employees to do their concern successful where their focal point and executing of ends were amazing. Richard Branson is really passionate about his ends and really ambitious about it. Bill gates is non so because he have to develop qualities like stability, forbearance and practicality in his life.

If you are running a concern you need to hold foundational cognition to take your squad. Richard Branson will non hold any regular board meetings and has no central office, rough he spends one – tierce of his clip in disbursement problem hiting for his new undertakings. But Bill Gates has sufficient cognition about his merchandises and holds regular meeting with their directors. Flexibility between them is good where they adopt to alter new concern environments. Richard and Bill are really good hazard takers to carry through their end, they analyse the feedbacks and they learnt from their errors to go the most successful enterprisers.

History of Dr. Bob Richards:
Dr. Bob Richards is the Chief executive officer of CERT group of companies and University in UAE. He holds a Ph.d. from Brigham University for leading. He is holding more than 25 old ages experience in public instruction and he held a Research chair in the field of direction engineering and alteration. Dr Richards widely published academic and professional diaries associating to the subjects entrepreneurship, strategic direction and invention. He was the co-founder of Genesis organic Iraqi National Congress, in 1994 he was named as the Newfoundland and enterpriser of the academic twelvemonth. Academy Canada and Genesis were the two celebrated ventures of Dr Richards where he evolved the kernel of entrepreneurial pattern ( Pech, R. , 2009 ) .

Traits and Features of Dr. Bob Richards:
Dr Richards is from educational leading background, as he learnt widely and funny about what he is traveling to make. Curiosity is one of the identifiable entrepreneurial traits from him. He is a difficult worker and high hazard taker where he was non able to capitalize his venture about nine months when he started it. Subsequently, he tried over it to make whatever to lift the things up and he increased hazard in tolerance. Dr Richards mobilised and motivated his workers all the clip and he had large aspirations in life. In his ways, enterpriser are the revivalists, which describes everyone have to larn in their existent life experience. He sees the penetration of everyone and thinks that everyone is able to make what he does ( Pech, R. , 2009 ) .

He possesses the personality of job resolution and determination devising accomplishments. His position on entrepreneurial procedure is affecting the mind, the emotion and the pattern. Dr Richards, leading manner is interesting and he is transformational leader. He has ability to actuate the people those who around them that transforms a house to accomplish the vision. His positions on general direction, hazard pickings and determination procedure trades with the conventional wisdoms ( Pech, R. , 2009 ) .

History of Jeff Griffiths:
Jeff Griffiths is a celebrated Australian enterpriser who worked in BP Australia from 1972-1993. He worked in assorted places runing from clerk to planning director. While working in Bp he started detecting the net incomes of sale which made him an enterpriser in the ulterior life. In 1993 Jeff was told to travel to UK or New Zealand at that clip he decided to experiment his thoughts with new concern. Jeff joined in a crude oil conveyance company owned by Paul Cootes after retiring from BP Australia. In 1995 Jeff purchase old service Stationss and remodelled with his thoughts and observations from BP. Subsequently in 1996 he was granted spirits licence where he bought his retail mercantile establishment. Jeff profile is really low as he owned nine companies the chief nucleus of his concern involvements is endeavour crude oil ( Pech, R. , 2009 ) .

Traits and Features of Jeff Griffiths:
Through his thoughts Jeff is self determined and successful individual in his life. He was in a great hazard when he borrowed $ 3.8 million for enlargement of his concern. His concern planning accomplishments helped him to go a most successful enterpriser. He is holding the ability to visualize the hereafter every bit good as he is focussed to acquire at that place. Jeff had no trouble in determination devising and job resolution. He clearly communicates with his squad members about the concern information and discusses with each director hebdomadally to guarantee that he does n’t lose communicating with them. He leaves of the concern for month and that is an chance for his employees to develop their determination devising accomplishments. His manner of thought is really strategic and he knows how to run those schemes. That helped Jeff to be flexible and advanced in his concern life ( Pech, R. , 2009 ) .

Comparison of enterprisers with each other:
Comparing Jeff Griffiths with Richard Branson, Jeff was an enterpriser in his ulterior portion of life. But Richard was a steady gait entrepreneurial character. Jeff discusses that anyone can be successful at anytime. Jeff is a superb contriver and executor, but Richard is non so he had no regular meeting with their board members. Jeff and Richard possessed few alone qualities like finding, motive and determination devising. Both were good focussed in their vision and ends to be achieved in future. Jeff structured his concern schemes carefully and evaluated realistically to implement it. Richard Branson is non good contriver like Jeff where he spends tierce of his clip in problem shot. Both of them are Risk takers in their life and became successful enterprisers.

Bill Gates had an unthinkable vision and his purpose was to be top in the following few old ages. But Jeff profile is really low when compared with Gates. Gates categorised the basic cardinal demands into four elements air, H2O, Earth and fire. Both Gates and Jeff on a regular basis meet their directors which help in increasing the motive for the employees. Jeff has the ability of believing independently to happen solutions for concern jobs. Gates is rather sensitive to emotional ambiance, where he needs to develop forbearance and stability. But Jeff plans good and executes them with his dichotomous accomplishments.

Dr Bob Richards ‘s organizational constructions will be much flatter and his direction manner is different from Richard Branson. Dr Richards frequently have interaction meeting with their employees instead than holding an assignment to work out jobs and to do determinations. Branson was non good educated were he could non utilize his educated leading accomplishments in his concern. But Dr Richard was good educated as he analysed all the factors which affects the concern and implemented his experience in the entrepreneurial life. Bob ‘s entrepreneurial procedure is segmented into, the mind, the emotion and the pattern, and it is non so by Branson.

Dr Bob Richards and Bill gates largely had the same features like motive, finding, in their entrepreneurial life. Both had an ambitious life where their vision was clear and supportive for the employees. Bob describes that enterprisers are revivalists who sees solution in their existent life experience. Gates do non possess any qualities like that and he verbally contentious with his troughs. Bob is practical scholar of life, but non Gates. Gates learned from the errors and provender dorsums given to his merchandises. More or less both have the similar constructs about the entrepreneurial life.

Finally to reason this essay was all about the enterprisers who created a new universe around them. Each enterpriser has similar features which helped them to do a successful entrepreneurial calling in their life clip. As besides it explains about their life history and their direction manner. At last it gives few recommendations for an non enterpriser to go a entrepreneurial individual.

To go a most successful enterpriser an person should possess the qualities like leading, motive, hazard taker, end oriented and self confident. To follow these venture one should analyze the schools of idea on entrepreneurship. To asses personal qualities there are two schools, The ‘Great Person ‘ school of Entrepreneur ship and ‘Psychological Characteristics ‘ School of Entrepreneurship. To recognize chances, the Classical school of entrepreneurship. To Act and Manage there are two schools, the Management School and Leadership School. For Reassessing and Adapting the Intrapreneurship School of Management ( Cunningham, B, J, et. , al. , 1991 ) .

In this essay we have seen the celebrated enterprisers who have the qualities of schools of idea on entrepreneurship. Different state of affairss need different schools of entrepreneurship so everyone will hold study all these schools to go a successful enterprisers like those are now in this planetary environment.


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