This document provides an overview of entrepreneurship from an entrepreneurial profile and traits perspective. It discusses the entrepreneurial profile assessment which identifies 10 key entrepreneurial talents: confidence, determination, disruptor, risk, knowledge, relationship, independence, profitability, selling, and delegator. It then covers the trait approach to entrepreneurship, including theories from Jung and Cattell. Examples of entrepreneurial traits are discussed like need for achievement, locus of control, and risk-taking. The document also addresses support systems for entrepreneurs including financial support, mentors, government assistance, community, critics, and cheerleaders. Finally, it explores environmental and socio-cultural factors that can influence entrepreneurship.

1. ENTREPRENEURSHIP
.

2. Group Members
Aakif Ameen 2kx4-ee-103
Abid Hussain 2kx4-ee-104
M. Ahtesham 2kx4-ee-106
Husnain Mushtaq 2kx4-ee-107
Ans Bin Amir 2kx4-ee-117
Asad Hussain 2kx4-ee-147
Department of Electrical Engineering
Pakistan Institute of Engineering andTechnology, Multan

3. Topics
■ Entrepreneurial Profile
■ Trait Approach of Entrepreneurship
■ Environmental and Socio culture Factors Affecting
Entrepreneurship
■ Support System for Entrepreneur
■ Miscellaneous

4. Entrepreneurial Profile
■ The world's most successful entrepreneurs are born with rare talents. These business
builders can turn ideas into customers. They are the primary source of new economic
energy to any economy. Communities and organizations that identify and develop
these entrepreneurial talents will create new businesses and subsequently quality GDP
and job growth.
■ To find future business builders early and help them succeed created Entrepreneurial
Profile. Formerly known as Entrepreneurial Strengths Finder, newest talents-based
assessment.The Entrepreneurial Profile identifies the entrepreneurial talents.

5. Talent Order
1. Confidence
People with high levels of this talent
■ Know themselves well
■ Have strong self-belief
■ Convince others of their ability to get positive results
Action items
■ Assess the competition if entering new markets.
■ Surround yourself with partners who can challenge your thinking.
■ Consider diverse points of view to assess opportunities realistically.

6. 2. Determination
People with high levels of this talent
■ Exhibit a tremendous work ethic
■ Are tenacious and persistent
■ Have the ability to recover from setbacks
Action items
■ Pivot when results don’t match your expectations.
■ Help your team see the possibilities during challenging times.
■ Reflect on your successes and mistakes.

7. 3. Disruptor
People with high levels of this talent
■ Think of novel ways to move the business forward
■ Are brimming with new ideas
■ Imagine possible futures
Action items
■ Experiment to resolve a project’s uncertainty.
■ Build and test a minimal viable product.
■ Launch to early adopters and iterate.

8. 4. Risk
People with high levels of this talent
■ Are comfortable with ambiguity
■ Take a rational approach to decision-making
■ Embrace challenges enthusiastically
Action items
■ Account for external business conditions.
■ Calculate your odds of success before assuming risk.
■ Have outsiders evaluate your ideas

9. 5. Knowledge
People with high levels of this talent
■ Constantly search for new information about the business
■ Obsesses about the business
■ Value information as an asset
Action items
■ Set aside time to learn new information relevant to your business.
■ Encourage your employees and customers to share their insights.
■ Consider how what you learn affects your business.

10. 6. Relationship
People with high levels of this talent
■ Have high social awareness
■ Build diverse networks
■ Attract and maintain partnerships
Action items
■ Focus on your most valuable business contacts.
■ Revitalize and expand your network as business needs change.
■ Ensure networking activities do not detract from accomplishing other tasks.

11. 7. Independence
People with high levels of this talent
■ Can single-handedly operate a business
■ Autonomously set goals and take action
■ Are able to multitask
Action items
■ Recognize the value others can bring to your business.
■ Develop systems to handle repetitive tasks.
■ Expand your team.

12. 8. Profitability
People with high levels of this talent
■ Have sharp business instincts
■ Set clear goals
■ Plan growth strategies
Action items
■ Set realistic business goals.
■ Control your operational costs.
■ Evaluate all decisions based on their financial impact.

13. 9. Selling
People with high levels of this talent
■ Are ambassadors for the company
■ Are persuasive
■ Communicate clearly
Action items
■ Get to know your prospects on an individual basis.
■ Communicate your value proposition to your customers.
■ Partner with a business development person.

14. 10. Delegator
People with high levels of this talent
■ Easily delegate authority
■ Are proactive collaborators
■ Recognize team strengths
Action items
■ Give employees autonomy and support.
■ Relinquish control of certain day-to-day tasks.
■ Intentionally focus on growing your business.

15. TraitApproach of Entrepreneurship
■ A trait is a characteristic pattern of behavior or conscious motive which can be self-
assessed or assessed by peers.
■ What makes an entrepreneur, an entrepreneur? Could it be the environment they grew
up in or simply, the personality that they were born with or developed as they grow?
This essay would present on the traits one should have to perform in this career and
how these personalities would benefit them as a businessperson.Apart from that, it
would discuss the different approaches and analyze it against the trait approach

16. TraitTheory
■ An approach for analyzing the structure of personality by measuring, identifying, and
classifying similarities and differences in personality or traits.
■ Jung’sTheory
■ Cattell: Source & SurfaceTraits

17. Jung’sTheory ofTwoTypes
Carl Jung , Swiss psychiatrist who was a Freudian disciple , believed that we are one of
two personality types:
■ Introvert: Shy, self-centered person whose attention is focused inward
■ Extrovert: Bold, outgoing person whose attention is directed outward

18. Cattell: Source & SurfaceTraits
■ Raymond Cattell: from Devon, England, believed that there were two basic
categories of traits:
■ SurfaceTraits: Features that make up the visible areas of personality
■ SourceTraits: Underlying characteristics of a personality

19. Cattell:The Big Five
Cattell believed that five factors were most important:
■ Emotional Stability
■ Extraversion
■ Openness
■ Agreeableness
■ Conscientiousness

20. Big Five PersonalityTraits
Extroversion
■ This trait includes characteristics such as excitability, sociability, talkativeness, assertiveness, and
high amounts of emotional expressiveness. Sociable, gregarious, and assertive.
■ I love excitement and am a cheerful person
Agreeableness
■ This personality dimension includes attributes such as trust, altruism, kindness, affection, and
other prosocial behaviors.
■ Good-natured, cooperative, and trusting. People find me warm and generous and selfless.

21. Big Five PersonalityTraits
Conscientiousness
■ Common features of this dimension include high levels of thoughtfulness, with good impulse
control and goal-directed behaviors
■ Responsible, dependable, persistent, and organized.
■ People find me reliable and I keep my house clean
Emotional Stability
■ Individuals high in this trait tend to experience emotional instability, anxiety, moodiness,
irritability, and sadness.
■ calm, self-confident, secure (positive) versus nervous, depressed, and insecure (negative).
■ am very moody I often feel sad and down

22. Big Five PersonalityTraits
Openness to Experience
■ This trait features characteristics such as imagination and insight, and those high in this trait also
tend to have a broad range of interests.
■ I am a very curious person & enjoy challenges
■ Imaginativeness, artistic, sensitivity, and intellectualism.

23. Major Concept
■ The proprium or self, and how they are shaped as the self continues to develop as the person
proceeds through the lifespan.
■ Concept of Cardinal,Central, and SecondaryTraits
CardinalTraits
■ Characteristics that are pervasive and dominant in a person‘s life
■ These are master motives, ruling passions, eminent traits.

24. Cont. ..
CentralTraits
■ Characteristics that control less of a person‘s behavior but are nevertheless important
■ Descriptions of people intelligent , sincere, kind, possessive, competitive, ambitious, funny, and
honest.
SecondaryTraits
■ Characteristics that are peripheral to the person––preferences
■ Such traits are generally less important, less conspicuous, less generalized, and less often called
into play than central traits.

25. Example of EntrepreneurialTraits
Need of achievement
■ Denotes individual’s need to strive hard to attain success.
■ Setting demanding targets for oneself, being proactive, tendency to take immediate
responsibility for tasks, plan and control events. Want to receive feedback about their level of
performance.
Locus of control
■ One aspect of the cognitive style which represents the extension to which individual feels in
charge.
■ Perception of control over the environment by one’s action, belief that luck and fate do not really
determine what happens.

26. Example of EntrepreneurialTraits
Risk taking
■ Describes the individual cognitive style with respect to taking risks.
■ Actively seeking risky assignments and having greater propensity to take risks.
Personal initiative
■ A behaviour syndrome resulting in an individual’s taking an active and self- starting approach to
work and going beyond what is formally required in a given job.
Tolerance of ambiguity
■ Describes one’s ability to make decision with incomplete information.
■ Making decisions in situations of high uncertainty.

27. Example of EntrepreneurialTraits
Creativity
■ Describes the tendency towards experimentation, trial and error, lateral thinking.
■ Thinking in non-conventional ways, challenging existing assumptions, flexibility and adaptability
in problem solving.
Need of autonomy
■ Represents one’s strive to be independent and having control.
■ Avoiding restrictions, rules, procedures and strong need for independence and autonomy.
Self-efficacy
■ Describes optimistic self-beliefs to cope with a variety of difficult demands.
■ Belief that one's actions will produce desired results.

28. Example of Entrepreneurial Motivational
Traits
Ambition (Healthy ambition)
■ Strong desire to attain high results; willingness to make something real and to meet high
standards
Egoistic passion
■ acting in one’s own interests, passion in following own goals doesn’t mean ignoring other people.
Scarifying other things in order to follow own priorities
Energy
■ Hardiness, endurance, stamina
Tenacity
■ being persistent in following ideas in troubles, not giving up

29. Examples of Entrepreneurial
Competencies
Entrepreneurial CareerVision
■ Includes formulation of long term goals and preparation of action- implementation plan.
DecisionTaking
■ Means to analyze the different alternatives available in order to determine the best path to follow
assuming full responsibility of the outcomes.
Management
■ Ability to gather, integrate and manage required resources in order to start, maintain and grow
within the organization.

30. Examples of Entrepreneurial
Competencies
Conceptual thinking
■ One’s disposition to identify the relation existing among different components in complex
situations, that are not directly related, and the ability to construct models that are easy to use.
Entrepreneurial networking
■ Includes establishing, maintaining and taking advantages of interpersonal and institutional
relationships in order to achieve entrepreneurial goals.
Flexibility
■ One’s disposition to change focus in order to follow better fitting options that allow tasks to be
well executed.

31. Support System for Entrepreneur
■ Entrepreneurs need strong support and advisory system in order to turn their startup ideas into
valuable businesses. Supporting entrepreneurship is essential for the development and
improvement of our lives. Modern-world society needs innovations and effective solutions for
existing problems.
1. Financial Support
2. Mentors
3. Government Support
4. Community
5. Critic
6. Cheerleader

32. 1. Financial Support
■ A financial system is a system that allows the exchange of funds between lenders, investors and
borrower. ... Basic need to become a entrepreneur is fund without found a entrepreneur can not
established his idea. So financial support system is that which provide the guideline to arrange
the fund for the enterprise.
Forms of financial support
■ According to its Application
■ According to its Requirement
■ According to its Nature

33. According to its Application
Fixed Capital
■ It refers to funds used for purchase of fixed assets like land , building, plant and
machinery and other expenses.
Working Capital
■ It refers to funds used for raw material purchase, payment of salaries / wages , rent ,
fuel , electricity ,etc. it is also known as Revolving capital since it is continuously
invested incurrent assets and recovered through sale of products.

34. According to its Requirement
Long term capital
■ It is usually for five years or more.
Medium- term capital
■ Normally implying requirement of 2 to 5 years.
Short – term capital
■ It is for a period less than 1 year.

35. According to its Nature
Equity or ownership capital
■ The investment is a permanent part of the
■ firm’s capital structure and raising equity is
■ possible by selling additional shares or by
■ investing profits back into business.
Debt capital
■ It is a lower risk proposition , since it needs
■ to be repaid according to agreed schedule .
■ Debt capital can be further sub- divided into
■ short-term – generally up to one year, and
■ medium, term – one year to ten year.

36. 2. Mentors
■ We can all learn something from those who have gone before us. A mentor, particularly one who
has succeeded in entrepreneurship, can impart priceless knowledge and experience.The best
mentors are those who are older than you, wiser than you.
Why do Mentors Matter?
■ They are a sounding board for all of your ideas
■ They can open doors for you that you wouldn’t have otherwise
■ You stop wasting time guessing because you can get (great) answers to your questions quickly
■ And they challenge you to be better and dream bigger
■ Gain experience not shared in books
■ .A mentor will help you stay in business longer
■ A mentor will help you develop stronger EQ.

37. Types of Mentor
Long-term mentor
■ someone who is there at the beginning understands your business fully and provides feedback
on an ongoing basis.They tend to make themselves more available to you, as they are personally
invested and want you to succeed.
Short-term mentors
■ these mentors serve as sounding boards for particular parts of your business, such as marketing,
product development, hiring and more. Oftentimes, you hire them for particular projects or
engage with them only when you have very specific questions.They’re experts in their field and
know their stuff.
Coaches
■ these mentors are incredible motivators, but can help you with your own personal growth, not
only as a leader in your business, but in your personal life as well.They can help round you out to
make sure you’re living a fully integrated life and your relationships, health, etc.

38. 3. Government Support
■ Research and development
■ Entrepreneurial assistance
■ Business climate
■ Economic dev-support

39. 4. Community
■ Learning from each other's mistakes
■ Exchanging tips of the trade
■ Passing on knowledge
■ Learning new business skills
■ Making connections

40. 5. Critic
■ This might seem surprising, but a critic can be an entrepreneur’s best friend. The key is finding a
critic who truly cares about you as a person. Having someone in your life who speaks truth in
love is critical to your success. The best critics are those who know you, care about you, and
want to make you better.
6. Cheerleader
■ This person will cheer you on, even on your darkest days. He or she will look for the
best in your situations and, more important, will always look for the best in you. The
best cheerleaders are those closest to you, those who know you well.

41. Environmental and Socio culture Factors
Affecting
Environmental Factors
 Parents
 Friends
 Teachers
 School Atmosphere
 Neighborhood
 Society around him

42. Entrepreneurial Environment
Entrepreneurial environment is a combination of factors that play a role in the development of
entrepreneurship.
■ First, it refers to the overall economic, socio cultural, and political factors that influence people’s
willingness and ability to undertake entrepreneurial activities.
■ Second, it refers to the availability of assistance and support services that facilitate the start-up
process.

43. Entrepreneurial Environments Groups
The available literature on entrepreneurial environments can be grouped into three broad streams
1) General Environnemental conditions for Entrepreneurship
■ legal and institutional frameworks for efficient functioning of private enterprises
■ presence of experienced entrepreneurs and skilled labor force
■ accessibility of suppliers and customers or new markets high degree of competition among
firms
■ favorable government policies
■ provision of training and support services
■ supportive infrastructure

44. 2) Country/Region Specific
Environmental Conditions
■ Countries that keep rules and regulations at a minimum, offer tax and other incentives, and
provide training and counselling services to start-up entrepreneurs increase the likelihood of
new venture start-ups
■ Factors such as availability of financial resources, large size urban areas, and presence of
universities for training and research are found to be very important to increase the rate of
new venture creation

45. 3) Role of Public Policy
 Venture capital funds
 Tax-based incentives, and government procurement programs
 Protection of proprietary ideas and innovations
 Investment in education and research
 Explicit recognition of, and support for, entrepreneurship by government agencies
 Fostering of entrepreneurship by educational institutions and minimization of entry
barriers

46. EnvironmentalAnalysis
 Positive environment
 Encourages entrepreneurial development and growth
 This is called entrepreneurial motivation
 Greatest motivation money but it is not alone that inspire an entrepreneur
 Other motivating factors are:
internal
external

47. Internal factors
 Family background
 Education background
 Training and work experience
 Desire for achievement
 Desire to head a unit

48. External Factors
■ Availability of inputs or raw materials
■ Demand of the product and large profits
■ Availability of infrastructure and finances
■ Availability of technology
■ Short supply of the product
■ Government initiative and assistance
■ Ready availability of sick units

49. Social Factors
Caste Factor
There are certain cultural practices and values in every society which influence the’ actions of
individuals. E.g. Hindus in India.
It has divided the population on the basis of caste into four division.
■ Brahmana (priest)
■ Kshatriya (warrior)
■ Vaishya (trade)
■ Shudra (artisan)
It has also defined limits to the social mobility of individuals.

50. Family Background
■ This factor includes size of family, type of family and economic status of family. E.g. Zamindar
family helped to gain access to political power and exhibit higher level of entrepreneurship.
■ Background of a family in manufacturing provided a source of industrial entrepreneurship.
■ Occupational and social status of the family influenced mobility.

51. Education
■ Education enables one to understand the outside world. It promoted the idea .
■ When the British came to our country, they introduced an education system, just to
produce clerks and accountants for the East India Company.
Attitude of the Society
■ Certain societies encourage innovations and novelties, and thus approve entrepreneurs’
actions and rewards like profits. Certain others do not tolerate changes and in such
circumstances, entrepreneurship cannot take root and grow. Comparison between Pakistan
and other countries.

52. CulturalValue
■ The strength of these motives depends upon the culture of the society. If the culture is
economically or monetarily oriented, entrepreneurship would be praised; wealth
accumulation as a way of life would be appreciated.
■ In the less developed countries, people are not economically motivated. Monetary
incentives have relatively less attraction
■ Food
■ Habit
■ Lifestyle
■ Norms within a society influence entrepreneurial growth

53. Elizabeth Holmes
Elizabeth Anne Holmes (born February
3, 1984) is a controversial American
entrepreneur and inventor. She is the
founder and CEO of Theranos, a
privately-held blood test company
based in Palo Alto, California that is
under regulatory and financial scrutiny.
Holmes received the "Under 30 Doers"
Award from Forbes and ranked on its
2015 list of the "Most Powerful
Women".

54. Founding ofTheranos
■ Holmes founded the company in Palo Alto, California as Real-Time Cures to
"democratize healthcare. Her goal was to make health information accessible to all
people at any time so that risk of disease and health conditions could be detected
early on. In April 2004, she incorporated the company as Theranos (an amalgam of
"therapy" and "diagnosis").

55. Funding and Expansion
■ By December 2004, she had raised $6 million to fund Theranos. The company's first
revenue came from contracts Holmes established with pharmaceutical companies to
conduct testing and other clinical trials.
■ By the end of 2010, Holmes had more than $92 million in venture capital forTheranos.
■ Media attention increased in 2014 as she was on the cover of Fortune, Forbes, T: The
NewYorkTimes Style Magazine and Inc., who considered her "The Next Steve Jobs".
■ Forbes recognized Holmes as the world's youngest self-made female billionaire and
ranked her #110 on the Forbes 400 in 2014. Theranos was valued at $9 billion with
more than $400 million in venture capital.
■ During 2015, Holmes established agreements with Cleveland Clinic, Capital BlueCross
andAmeriHealth Caritas to useTheranos technology.