3. Initiative and Decision Making
A success in business depends on the
ability to make important decision.
Quick change take place in business
environment. If a businessman suffer
from uncertainty, he may lose business
opportunities. Therefore, it is essential
for a successful businessman to make
quick and correct decision.
4. Determination and Courage
A businessman must posses qualities of
strong will and determination. He
should take advice from other people,
but make is own decisions. Further,
every business faces problems at an
early stage but a businessman must
have courage and patient to face these
problems.
5. Intelligent and Alert
A businessman must be intelligent and
alert. He must be alert to business
threats and opportunities. He must be
aware of the changes taking place in
local and international market. He must
be intelligent enough to take advantage
of the business opportunities.
6. Training and Education
Business has become highly
competitive. It is risky to start a
business without having complete
knowledge of the different aspects of
business. Better training and education
help a businessman to understand the
problems that arise in business and find
solution for them.
7. Cooperation
Cooperation of employees is
necessary to success in business. A
businessman must possess a spirit
of cooperation in order to get
complete support and commitment
from the employees.