MGT602 Assignment NO:1 Solution Fall 2011

Entrepreneur:
There is agreement that we are talking about a kind of behavior that includes:
• Initiative taking, the organizing and reorganizing or social / economic
mechanism to turn resources and situations to practical account, the
acceptance of risk or failure
entrepreneurs are recognizing the need to learn some of the sciences of
management in an MBA program in order to grow their business effectively in
the global environment, so Ms.Hira have MBA graduated from Punjab
university which is her positive point and she need to follow proper
entrepreneurial process by keeping in the view the location and customer type
Entrepreneurial process contain some points entrepreneur should pursue this
business opportunity by following proper process of entrepreneur
Entrepreneurship characteristics
There are certain individual characteristics needed for a person to be successful
entrepreneurs including: Ms .Hira should pursue this business opportunity by
keeping in view all these points
• Often operates on the frontiers of technology so understands multiple
aspects of the environment.
• Has a vision.
• Possesses flexibility, problem solving skills and uses a multidisciplinary
approach.
• Encourages open discussion and teamwork.
• Builds a coalition of supporters.
• Secure commitment by top, upper and middle management.
• Identify ideas and general interest areas.
• Use technology for greater flexibility.
• Use a group of interested managers.
• Get close to the customers.
Check if these entrepreneurs’ characteristics are applicable to you.
• Responsible
• Hard Worker
• Risk Taker
• Creative
• Flexible
• Follows through with ideas
• Personable
• Optimistic
• Perceptive
• Self-confident
• Determined