ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Successful entrepreneurs need to be self-confident because they must make decisions alone, but they do not need to be creative because they can hire creative people. Being a good team member involves commitment, cooperation, and creativity.

Detailed explanation-2: -Confidence in your abilities, decisions, and business health allows an entrepreneur to rest easy when under pressure. You maintain an optimistic outlook, even amidst a crisis, which is vital for long-term success.

Detailed explanation-3: -Even if you’re not in a “creative” industry, creativity is needed for entrepreneurial success. The mind of an entrepreneur is always looking for novel ideas and innovations.

Detailed explanation-4: -Entrepreneurial creativity is the ability to develop new ideas and solutions to problems. It is the ability to see into the future and generate ideas, solutions and innovations before they are needed. It is the ability to solve your customer’s or client’s problems before they even realize the problem exists.

Detailed explanation-5: -Entrepreneurs are considered serial decision makers because they make lots of decisions every day and are generally wired to be risk takers and aren’t afraid of learning from their mistakes. Decision-making usually comes easier to entrepreneurs and high “D” personalities versus people who tend to be more risk averse.