The document discusses the personality characteristics of entrepreneurs. It identifies key traits like leadership, interpersonal competence, and administrative competence. It also discusses the importance of creating a dream or vision to motivate people. Entrepreneurs must function as leaders to facilitate needs, share information clearly about business needs, and acknowledge a willingness to change to achieve the vision. The document also identifies common barriers to entrepreneurship like entry barriers, survival barriers, and exit barriers that entrepreneurs must overcome.

5. Entrepreneurial Initiative: It is a strategic process which embodies calculated strategic choices. There are strategies open to the entrepreneur himself in terms of industry choice and individual and resource-task fit, and there are strategies open to regulators and support agencies in terms of industrial policy tools, incentives and explicit simulation of industrial sectors or branches. A conceptual framework that contains both dimensions will provide a convenient base for analysis and possible policy action. The analysis deals with a way of viewing the constraints embodied in the process of creating a new business or manufacturing operation. Barriers Prohibiting the Process of Entry into Activity: The slow propensity to enterprise is mainly due to the existence of a tangible set of barriers of entry, continuity in, and eventual exit from a business venture of a would be entrepreneur if it is a function of forces one may view as barriers limiting full-fledged business performance.

7. Attributes of an Entrepreneur: Perceptions Restless urge to get going Dedication Sense of acquisitiveness to get things done Vision Insight High Goals/Objectives High achiever Thrift Initiative Vigorous energy Creativity Hard work Zest to explore the unexplored Clean living Problem-solving ability Willingness to assume Ability to marshal resources risk Unceasing curiosity To achieve one’s objectives and goals Quest for new ideas Administrative ability