If
you think you want to be your own boss and run your own business, but are not
sure you have the right qualifications to be an entrepreneur, read on. What are
the characteristics of an entrepreneur? How does an entrepreneur think? Is your
personal profile similar to that of a successful entrepreneur?
Until recently, entrepreneurs were not
widely studied. There was a general lack of knowledge and information about
what made them tick. The recent interest in revitalizing America's dormant
productivity has changed all that. Most business universities now offer courses
in entrepreneurship. As a result, business professionals have learned a lot
about what it takes to become a successful entrepreneur. Although no one has
found the perfect entrepreneurial profile, there are many characteristics that
show up repeatedly. In the sections that follow, we'll cover several important
characteristics of entrepreneurs for you to consider and dispel the
entrepreneurial myths.
A series of interviews were conducted
with distinguished entrepreneurs. They were asked what characteristics they
felt were essential to success as an entrepreneur. Good health was a
characteristic mentioned by every entrepreneur interviewed. Entrepreneurs are
physically resilient and in good health. They can work for extended periods of
time, and while they are in the process of building their business, they refuse
to get sick.
In small businesses, where there is no
depth of management, the leader must be there. You may not be able to afford a
support staff to cover all business functions, and therefore you will need to
work long hours. We all know people who use part of their sick leave each year
when they are not sick. Entrepreneurs are not found in this group. At the end
of the eight-hour day, when everyone else leaves for home, the entrepreneur
will often continue to work into the evening, developing new business ideas.
Entrepreneurs do not function well in
structured organizations and do not like someone having authority over them.
Most believe they can do the job better than anyone else and will strive for
maximum responsibility and accountability. They enjoy creating business
strategies and thrive on the process of achieving their goals. Once they achieve
a goal, they quickly replace it with a greater goal. They strive to exert
whatever influence they can over future events.
In large, structured organizations,
entrepreneurs are easy to recognize by the statements they make: "If they
wanted that job done right, they should have given it to me." A dominant
characteristic of entrepreneurs is their belief that they are smarter than
their peers and superiors. They have a compelling need to do their own thing in
their own way. They need the freedom to choose and to act according to their
own perception of what actions will result in success.
Entrepreneurs are self-confident when
they are in control of what they're doing and working alone. They tackle
problems immediately with confidence and are persistent in their pursuit of
their objectives. Most are at their best in the face of adversity, since they
thrive on their own self-confidence.
Entrepreneurs have a never-ending sense
of urgency to develop their ideas. Inactivity makes them impatient, tense, and
uneasy. They thrive on activity and are not likely to be found sitting on a
bank fishing unless the fish are biting. When they are in the entrepreneurial
mode, they are more likely to be found getting things done instead of fishing.
Entrepreneurs prefer individual sports,
such as golf, skiing, or tennis, over team sports. They prefer games in which
their own brawn and brain directly influence the outcome and pace of the game.
They have drive and high energy levels, they are achievement-oriented, and they
are tireless in the pursuit of their goals.
Successful entrepreneurs can comprehend
complex situations that may include planning, making strategic decisions, and
working on multiple business ideas simultaneously. They are farsighted and
aware of important details, and they will continuously review all possibilities
to achieve their business objectives. At the same time, they devote their
energy to completing the tasks immediately before them.
Accounting reports illustrate this
characteristic. Accountants spend hours balancing the accounts and closing them
out. For them, the achievement is to have balanced books. The entrepreneur only
wants to know the magnitude of the numbers and their significance for the
operation of the business.
Entrepreneurs accept things as they are and
deal with them accordingly. They may or may not be idealistic, but they are
seldom unrealistic. They will change their direction
when they see that change will improve their prospects for achieving their
goals. They want to know the status of a given situation at all times. News
interests them if it is timely, and factual, and provides them with information
they need. They will verify any information they receive before they use it in
making a decision. Entrepreneurs say what they mean and assume that everyone
else does too. They tend to be too trusting and may not be sufficiently
suspicious in their business dealings with other people.
Entrepreneurs
possess the ability to identify relationships quickly in the midst of complex
situations. They identify problems and begin working on their solution faster
than other people. They are not troubled by ambiguity and uncertainty because
they are used to solving problems. Entrepreneurs are natural leaders and are
usually the first to identify a problem to be overcome. If it is pointed out to
them that their solution to a problem will not work for some valid reason, they
will quickly identify an alternative problem-solving approach.
Entrepreneurs
find satisfaction in symbols of success that are external to themselves. They
like the business they have built to be praised, but they are often embarrassed
by praise directed at them personally. Their egos do not prevent them from
seeking facts, data, and guidance. When they need help, they will not hesitate
to admit it especially in areas that are outside of their expertise. During
tough business periods, entrepreneurs will concentrate their resources and
energies on essential business operations. They want to be where the action is
and will not stay in the office for extended periods of time.
Symbols of
achievement such as position have little relevance to them. Successful
entrepreneurs find their satisfaction of status needs in the performance of
their business, not in the appearance they present to their peers and to the
public. They will postpone acquiring status items like a luxury car until they
are certain that their business is stable.
Entrepreneurs
are more concerned with people's accomplishments than with their feelings. They
generally avoid becoming personally involved and will not hesitate to sever
relationships that could hinder the progress of their business. During the
business-building period, when resources are scarce, they seldom devote time to
dealing with satisfying people's feelings beyond what is essential to achieving
their goals.
Their lack of
sensitivity to people's feelings can cause turmoil and turnover in their
organization. Entrepreneurs are impatient and drive themselves and everyone
around them. They don't have the tolerance or empathy necessary for team
building unless it's their team, and they will delegate very few key decisions.
As the business
grows and assumes an organizational structure, entrepreneurs go through a
classic management crisis. For many of them, their need for control makes it
difficult for them to delegate authority in the way that a structured
organization demands. Their strong direct approach induces them to seek
information directly from its source, bypassing the structured chains of
authority and responsibility. Their moderate interpersonal skills, which were
adequate during the start-up phases, will cause them problems as they try to
adjust to the structured or corporate organization. Entrepreneurs with good
interpersonal skills will be able to adjust and survive as their organization
grows and becomes more structured. The rest won't make it.
Entrepreneurs
have a considerable amount of self-control and can handle business pressures.
They are comfortable in stress situations and are challenged rather than
discouraged by setbacks or failures. Entrepreneurs are uncomfortable when
things are going well. They'll frequently find some new activity on which to
vent their pent-up energy. They are not content to leave well enough alone.
Entrepreneurs tend to handle people problems with action plans without empathy.
Their moderate interpersonal skills are often inadequate to provide for stable
relationships. However, the divorce rate among entrepreneurs is about average.
1.
How many characteristics of
entrepreneur based on the text?
2.
When do the entrepreneurs have
self confidence?
3.
Do entrepreneurs like team
sports?
4.
What is the importance of sense
of urgency?
5.
Why are the entrepreneur seldom
unrealistic?
Successful
entrepreneur must have several characteristics such as self-control,
self-confidence, sense of urgency, comprehensive awareness, realism, conceptual
ability, status requirements, inter personal relationships and emotional
stability. They can do the job better than anyone else and will strive for
maximum responsibility and accountability. They work at their best in the face
of adversity. They have a never-ending sense of urgency to develop their ideas.
They can comprehend complex situations that and working on multiple business
ideas simultaneously. They accept things as they are and deal with them
accordingly.
Part IV: Evaluation
6.
An entrepreneur has many
importance characteristics, which is the most important one? Why?
7.
Is Entrepreneurship inborn?
Elaborate your answer!
8.
Why Good Health is essential to
success?
9.
Why does Entrepreneur find it
hard to work well in a structured organization?
10.
What does the expression “They
are not likely to be found sitting on a bank fishing unless the fish are
biting” mean?
11.
What distinguishes an
Entrepreneur from Accountant?
12.
Do you think that it is
necessary to have fortune teller to have them start business?
13.
Why are Entrepreneurs reluctant
to pass the authority to other people?
14.
Why do Entrepreneurs tend to
handle people problems with action plans without empathy?
15.
Why does the marital life of
Entrepreneur tend to end in divorce?
1.
(TRUE/FALSE) Ambiguity and uncertainty hinder an
Entrepreneur problem solving
2.
(TRUE/FALSE) Entrepreneur like playing football
3.
(TRUE/FALSE) As soon as starting business Entrepreneur
will buy a Jaguar
4.
(TRUE/FALSE) Entrepreneur like hanging out.
5.
(TRUE/FALSE) Entrepreneur doesn’t take an input for
granted.
6.
(TRUE/FALSE) Entrepreneurs know how to control themselves
when handling business pressures.
7.
(TRUE/FALSE) Entrepreneurs tend to ignore personal problems
when handling people.
8.
(TRUE/FALSE) Entrepreneurs need good interpersonal skills
to survive.
1.
Self control
2.
Sensitivity
3.
Professional
4.
Empathy
5.
Authority
• power •
apathy • compassion •
right • talent
• expert •
feeling •
hedonism • willpower
|
|
belRunning
late: dealing with chronically late employees who cost the company in productivity
and morale
HR Magazine, Nov, 2005
by Diana DeLonzor
President
Bill Clinton, Robert Redford and Naomi Campbell are all reputed members of the
better-late-than-never club that also includes up to 20 percent of the U.S.
population. If your employees are card-carrying members as well, they're not
only among esteemed company, they're also dragging down the business.
Tardiness
costs U.S. businesses more than $3 billion each year in lost productivity. The
effect on the bottom line of the average business is significant: An employee
who is late 10 minutes each day has, by the end of the year, taken the
equivalent of a week's paid vacation. Adding to the total cost is the ripple
effect of late-starting meetings as productivity is impacted throughout an
entire organization.
During
the past several decades, lateness has gradually been on the rise in U.S.
businesses. In 2004, while conducting follow-up research for my book, Never Be
Late Again: 7 Cures for the Punctually Challenged, I conducted a survey of
human resource managers and found that 73 percent reported tardiness to be
growing worse. Many managers cited decreasing employee morale and increasing
work and family responsibilities as causes. With the recent economic turmoil,
employees are feeling more stress and pressure to take on extra workloads,
according to the survey participants. These factors, coupled with a loosening
of societal standards, are causing some real changes in priorities.
But
managers beware. Although it's tempting to say, "Just get here on
time," that's a little like telling a dieter to simply stop eating so
much. Chronic lateness is typically a lifelong habit, and one that's
surprisingly difficult to overcome.
Of
course, there are myriad reasons for chronic lateness, such as job
dissatisfaction, promotional or salary-related resentments, or a lax company
policy. However, my research has also found that most chronically late people
aren't purposefully tardy but instead tend to have difficulty with time
management. In a San Francisco State University study investigating chronic
lateness and its causes, we found that the punctually challenged often shared
certain common personality characteristics such as anxiety, a penchant for
thrill-seeking or low levels of self-control.
Chronically
late subjects also reported greater procrastination tendencies in general
compared to the timely subjects.
Taming
Tardiness
While
managers often accuse tardy types of wanting attention or of needing to be in
control, persistent lateness usually has little to do with those factors. The
motivations, rather, are often subconscious ones. Some people are drawn to the
adrenaline rush of that last-minute sprint to the finish line, and others
receive an ego boost from over-scheduling and filling each moment with an
activity. Still others have difficulty conforming to rules and structure.
A
combination of prevention, penalties, rewards and coaching are often key to
dealing with tardiness on an organizational level. The following simple,
four-step process can turn a chronically late workforce into a group of
right-on-timers, increasing productivity and morale at the same time.
1
Establish
a corporate culture that encourages punctuality. Work with HR to create a
written punctuality policy with clearly defined penalties. Communicate the
policy in all new hire orientations, enlist sign-on from all managers and
enforce it consistently. Penalties may include written warnings, suspension,
pay docking and termination. Be sure to check your state's employment codes prior
to setting the policy. Time-critical companies such as United Parcel Service
attribute their success in part to this type of regular reinforcement of
company policy.
2
Discourage
late-starting meetings. Send an e-mail reminder a half-hour prior to every
meeting asking participants to be on time, or set one up in Microsoft Outlook
calendar. Two minutes after the scheduled start time, close the door. Then
tackle the most important topics first. Open the door for latecomers, but do
not backtrack to fill them in on missed discussions.
3
Establish
a system of rewards for employees with perfect attendance and punctuality. Some
companies have found that rewards not only incent employees, but also serve as
a reminder that punctuality is an important part of company culture.
Punctuality incentives are often packaged with attendance records, and rewards
can come in the form of anything from free employee parking to department store
gift certificates. Managers can use spot bonuses to reward employees who are on
time.
4
Deal
with lateness on an individual level. Handling lateness on an individual level
usually requires some degree of coaching. Although termination is always an
option for employees with excessive tardiness, there are times when an
otherwise wonderful employee simply needs a nudge in the right direction.
Arrange
a meeting with the employee to outline company policies and inquire about
extenuating circumstances or logistical problems. Set clear, measurable goals
for the future and clarify the consequences for being late. Document your
conversation in writing and keep written documentation of future incidents.
©
2007 FindArticles™ - LookSmart, Ltd.
II. Try to answer the questions below
based on the reading text.
- What tardiness impact
on business?
- What might causes
tardiness?
- What kind of people
that mostly tard?
- Is it easy to change
the late behavior? Why?
- How to change tardy
people to behave in manner?
III. State whether these statements
are true or false, clarify when it false
- Clinton is always
being on time
- Clinton, Redford, and
Campbell are in the same organization
- Wanting attention is
mentioned as the most factor that caused persistent lateness
- Reward system will
warn employees that punctuality is exist
- The policy must be in
line with state's employment codes
IV. Find the meaning of these words
based on reading text
- Productivity
- Turmoil
- Chronic
- Penalty
- Reward
V. Develop a short paragraph based on
questions in part II
Corporate
social responsibility : HR’s leadership role
In a global economy, increasingly
organizations have a responsibility to facilitate, demonstrate and promote
corporate social responsibility (CSR). Long-term sustainability demands that
organization rethink their business goals and objectives from solely focusing
on making a profit to corporate citizenship. Today, the impact of CSR is
beginning to be seen in communities throughout the world—from human right and
labor practices to health care and the environment. At home and abroad, HR
plays a critical role—that of leading and educating their firms regarding the
importance of CSR while at the same time strategically implementing sound HR
management practices that support the company’s business and CSR goals.
Today, there are many references to
corporate social responsibility (CSR), sometimes referred to as corporate
citizenship, in our workplaces, in the media, in the government, in our
communities. While there is no agreed-upon definition, the World Business
Council for Sustainable Development defines CSR as the business commitment and
contribution to the quality of life of employees, their families and the local
community and society overall to support sustainable economic development.
Simply put, the business case for CSR—establishing a positive company
reputation and brand in the public eye through good work that yield a
competitive edge while at the same time contributing to others—demand that
organizations shift from solely focusing on making a profit to including
financial, environmental and social responsibility in their core business
strategies. Despite what that phrase corporate social responsibility suggest,
the concept is not restricted to corporations but rather is intended for most
types of organizations, such as associations, labor unions, organization that
serve the community for scientific, educational, artistic, public health or
charitable purposes, and governmental agencies.
In the late 1990s, CSR began to gain
momentum as pressure from consumers, the media, activists and various public
organizations demanded that companies contribute to society. In large part, the
increasing focus on CSR has been fueled by a number of events in recent years,
such as the highly publicized financial scandals of Enron and WorldCom, alleged
sweatshop labor by retail clothing and sports shoe manufactures and the alleged
“under-the-table” deals that companies such as Halliburton have received. Now,
reputation, brand, integrity and trust are increasingly considered important
measures of corporate social responsibility.
One
of the most visible CSR initiatives
is community relations. Strong community relations can have a positive impact
on company reputation and brand. Through community programs that highlight the
company doing good work, HR can link critical issues—decreasing turnover,
savings on cost per hire and attracting talented individuals—to CSR and the
bottom line. There are many other possibilities that HR leaders could explore
to match both company and community needs (e.g., cultural facilities for the
community, recreational facilities for employees and their families, an
education project to help prepare tomorrow’s workforce). For example, employees
high-tech companies could work with students on science projects that require
technical skills.
Company reputation and brand are
greatly influenced by public perception. For example, in the largest global
survey of the public’s expectations, the millennium poll on corporate social
responsibility documented that over 25,000 individuals across 23 countries on
six continents revealed they form their impressions of companies by focusing on
corporate citizenship and two out of three people want companies to go beyond
making money and contribute to broader society goals. Increasingly, there are
success stories that show companies are listening to the public. A recent
example is that of Ecolab of St. Paul, Minnesota, that quickly developed new
products to address unexpected hazards with an antimicrobial disinfectant
product in response to food and mouth disease in livestock and another new
product to combat SARS at the Toronto airport.
Today, companies are also seeking
avenues of public acknowledgment of
their employer brand. For example, Business Ethics Corporate social
Responsibility Report publishes a list of the 100 best corporate citizens.
Companies are ranked by social scores regarding environment, community and
customer relations, employee relationships, and diversity. One of the 2004
winners was Proctor & Gamble, which donated funds to help disadvantaged
youth in Vietnam, combat childhood malnutrition in India and provide earthquake
relief in Turkey.
Another critical aspect of reputation
and brand, as a CSR success factor, is the impact on a company’s
sustainability—that is, the conditions or characteristics that support an
organization to continue its business, including environmental, social and
economic aspects of the company. Ultimately, the environmental, social and
economic health of a company transfers into dollars that either directly or
indirectly affect reputation and brand, and thus bottom line. For example, a
company whose product contributes to the safety of the environment will likely
be favorably viewed by the public. Or, a company that supports community events
may generate public approval.
Managing
investor confidence
is another factor supporting the business case for CSR. Today, the financial
community is examining organizations’ CSR report cards and their risk profile.
The rapid rise of socially responsible investment illustrates that corporate
citizenship is becoming a key measure that in investor consider when aligning
ethical concern with publicly held corporations.
With
the anticipated labor shortage in the next 10 to 25 year, attracting,
developing, motivating and retaining talent is, and will continue to be, very
important. Correspondingly, CSR influences a company’s competitive advantage
today through two key value drivers : 1) company reputation and brand; and 2)
human capital. HR leader have begun to assume leadership roles to address both
areas. For example, a positive CSR initiative was documented by an employee
survey that illustrated the pride of employees regarding their
company’s contribution to a local AIDS organization. In addition, the talent
war is evidenced by an influx of “ best places to work”.
6.
What
is Corporate Social Responsibility?
7.
When
and why CSR became popular?
8.
Give
examples of events that have triggered CSR.
9.
What
kind of CSR initiatives
that could highlight company reputation and brand?
In a global economy, organizations
have a responsibility to facilitate, demonstrate and promote corporate social
responsibility (CSR). The World Business Council for Sustainable Development
defines CSR as the business commitment and contribution to the quality of life
of employees, their families and the local community and society overall to
support sustainable economic development. The increasing focus on CSR has been
fueled by a number of events in recent years, including the scandals of Enron
and WorldCom. Today, CSR influences HR and community Relations, reputation and
brand enhancement, and risk management.
10.
How
can close community relations have a positive effect on company reputation and
brand?
11.
In
what ways do CSR bring about positive impacts on a company’s sustainability?
12.
Give
an example of a company’s CSR program around you.
13.
What
triggers a company’s competitive advantage through CSR?
14.
What
is a talent war?
15.
What
are the most likely ways does a HR leader take to mediate the interest of the
company and community?
16. (TRUE/FALSE) Not all of companies are required to promote
Corporate Social Responsibility.
17. (TRUE/FALSE) Consumer, the media, activities, and various
public pressure company to applied CSR?
18.
(TRUE/FALSE) Community affects the company’s reputation
and brand.
19. (TRUE/FALSE) Perception of community around a factory does not determine the success of a factory.
20. (TRUE/FALSE) Sido Muncul’s annual program to have a Mudik
Bareng during Lebaran’s Day is an example of CSR.
21.
Brand
22.
Workforce
23.
Community
24.
Perception
25.
Sustainability
