ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Vision. One of the defining traits of entrepreneurship is the ability to spot an opportunity and imagine something where others haven’t. Entrepreneurs have a curiosity that identifies overlooked niches and puts them at the forefront of innovation and emerging fields.

Detailed explanation-2: -International Labour Organization (ILO) defines entrepreneurs as those people who have the ability to see and evaluate business opportunities, together with the necessary resources to take advantage to them and to initiate appropriate action to ensure success.

Detailed explanation-3: -One of the most important traits of a successful entrepreneur is perseverance. Perseverance is the ability to keep going despite difficulties or setbacks. It’s the determination to never give up, no matter what happens.

Detailed explanation-4: -Strong leadership qualities. Leaders are born, not made. Highly self-motivated. Strong sense of basic ethics and integrity. Willingness to fail. Serial innovators. Know what you don’t know. Competitive spirit. Understand the value of a strong peer network.