ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Entrepreneurs are all about setting goals and putting everything they have into achieving them. They’re determined to make their business succeed and will remove any obstacles that stand in their way.

Detailed explanation-2: -What are the characteristics of an entrepreneur that nurture success? An entrepreneur is a person who has a passion for creation and the ability to follow through on their ideas, someone who has the ability to see a need that has previously not been addressed or in some cases created a need that didn’t even exist.

Detailed explanation-3: -Decisive And Action Oriented. The final trait that all successful entrepreneurs must possess is being decisive and action-oriented. They must think and make decisions quickly. They discipline themselves to take action and to carry out the decisions they have made.

Detailed explanation-4: -Vision. Innovation cannot happen without vision, the ability to not only recognize opportunity and connect dots, but also the wherewithal to question why a solution does not exist to a problem. Passion. Adaptability. Resilience.

Detailed explanation-5: -Specificity. You have a better chance of achieving a goal if it’s specific. Optimism. Be positive when you set your goals. Realism. If you set a goal to earn $100, 000 a month when you’ve never earned that much in a year, that goal is unrealistic. Short and long term.