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THE MOST
IMPORTANT
ATTRIBUTES OF
ENTREPRENEURS.
CASE STUDY OF THE
ENVIRONMENT OF
CZECH SMES.
THE MOST
IMPORTANT
ATTRIBUTES OF
ENTREPRENEURS.
CASE STUDY OF THE
ENVIRONMENT OF
CZECH SMES.
THE MOST
IMPORTANT
ATTRIBUTES OF
ENTREPRENEURS.
CASE STUDY OF THE
ENVIRONMENT OF
CZECH SMES.
THE MOST
IMPORTANT
ATTRIBUTES OF
ENTREPRENEURS.
CASE STUDY OF THE
ENVIRONMENT OF
CZECH SMES.
THE MOST
IMPORTANT
ATTRIBUTES OF
ENTREPRENEURS.
CASE STUDY OF THE
ENVIRONMENT OF
CZECH SMES.
Title :-

The Most Important Attributes Of Entrepreneurs. Case Study Of The

Environment Of Czech Smes.

BY :-

Ganesh jadhav [14]

Krushanth jadhav [15]

Anvi navgire [09]

TECHER SIGNATURE
Content
Sr.No Content Page
1 Abstract I
2 Introduction 1
3 Conclusion 2
4 Literature 3
5 Objectives, Methodology And Data 4
6 Objectives, Methodology And Data 5

ABSTRACT ABSTRACT
ABSTRACT:

The aim of this paper was to define and quantify the most important attributes of entrepreneurs in the
segment of small and medium-sized enterprises. The partial objective was to compare the opinions
of the entrepreneurs in relation to their gender, age and level of education. Scientific questions,
defined in this paper, were verified through empirical research conducted in the Czech Republic in 2015
on a sample of 1,141 entrepreneurs. In our research, we found that entrepreneurs consider expertise,
responsibility and perseverance to be the most important personal characteristics and skills.
Propensity to risk and decisiveness are ranked right after them. The same group of three most important
attributes is presented by all defined groups of entrepreneurs, which means that the assessment of the
importance of these attributes remains the same regardless of gender, age and level of education of
the entrepreneur. It is interesting that the weight of the expertise increases with the age of the
entrepreneur. This trend is caused by the fact that men significantly more intensively presented
this opinion. When evaluating the attitudes of entrepreneurs to other characteristics and skills no
significant differences in relation to gender, age and education were identified.

\
INTRODUCTION
1.INTRODUCTION :
The research of the business environment of small and medium-sized enterprises (SMEs) is very
current in economic theory, and is focused on different attributes of the activities of
thesecompanies, which constitute an important part of the economic system of each country.While
evaluating the significance of SMEs to the economic system the opinion about their exceptional
status to tackling unemployment, their substantial benefit to the diversity of the market offers and to the
development of innovation activities prevails (Fetisovová et al., 2012, Synek et al., 2006).

Economists and politicians pay particular attention to the adjustment of external business
conditions, to the creation of business environment and laws governing business activities. "Almost no, or
just a very small attention is payed to the fact that the implementer of entrepreneurship is a man, who has
his own ideas, desires, motives, and attitudes, which lead him to doing business, to found a company, to
become a self-employer" (Flešková, Babiaková, Nedelová, 2011).

In this context, we consider to be necessary to examine the views and attitudes of entrepreneurs in the
SME segment. The contribution of this paper consists in the definition of the most important personal
characteristics (attributes) and skills of entrepreneurs, quantification and comparison of these attitudes
in terms of gender, age and the level of education of entrepreneurs. The acquired knowledge can help
to optimize the parameters of the educational system, resp. to form the new economic policy
approaches to this segment
2.THEORETICAL BACKGROUND:

The business environment is determined by personality characteristics and motives of individual

entrepreneurs. Business situations are often unique in their unpredictability, complexity and
changing requirements during the business process. Entrepreneurs must be capable to have the
features of several personalities at once and as one person to demonstrate the ability to act as
investors, inventors, accountants, dispute investigators, leaders, technologists, marketing specialists and
top sellers. For this reason, the more knowledge and skills the entrepreneur is capable to
demonstrate the better (Frese, Gielnik, 2014).

According to Deáková, Drážovská, Grznárik and Kondášová (2010) the most important personal
qualities for an entrepreneur are: courage, self-reliance, responsibility, determination, perseverance,
proactive approach, creativity and scholarship in a particular area, where this entrepreneur intends to do
business.

Kvietok (2013) states, that decision to take on the business risk is symptomatic of a certain type of
people. A significant part of the motivation to take risks in business follows from the success
motivation. To achieve the set goals, successful people are willing to take on reasonable risks
associated with feedback about the level of achieved results. Entrepreneurs are sort of being
managed with an inner feeling, which means that they feel that their personal fate is the result of their
own efforts. They are independent, autonomous, and rely on themselves, what are the
characteristics of entrepreneurial personalities.
3.OBJECTIVES, METHODOLOGY AND DATA:

The aim of this paper was to define and quantify the most important attributes of entrepreneurs in the
segment of small and medium-sized enterprises. The partial objective was to compare the opinions
of the entrepreneurs in relation to their gender, age and level of education.

In this paper we define these scientific questions:

SQ1: What are the most important personal predispositions and skills for doing business?
SQ 2: Is a willingness to take risks the most important prerequisite for doing business.
SQ 3: Are there any significant differences in the attitudes of entrepreneurs in relation to their
gender, and the level of education exist?
CONCLUSION
4.CONCLUSION :

The aim of this paper was to define and quantify the most important attributes of entrepreneurs in the
segment of small and medium-sized enterprises, and to compare the opinions of the entrepren
eursin relation to their gender, age and level of education.

In our research, we found that entrepreneurs consider expertise, responsibility and perseverance to be the
most important personal characteristics and skills. Propensity to risk and decisiveness are ranked right
after them. The same group of three most important attributes is presented by all defined groups
of entrepreneurs, which means that the assessment of the importance of these attributes remains the
same regardless of gender, age and level of education of the entrepreneur. It is interesting that the weight
of the expertise increases with the age of the entrepreneur. This trend is caused by the fact that men
significantly more intensively presented this opinion. When evaluating the attitudes of entrepreneurs
to other characteristics and skills no significant differences in relation to gender, age and education were
identified.

The results of our research, where among others outcomes showed that the willingness to take the risk is
not the most important attribute of an entrepreneur, can enrich economic theory and help to tune the
approach of the state, universities or other institutions to education and the needs of entrepreneurs
LITERATURE

REFERENCE:

1.Beugelsdijk, S., Noorderhaven, N. (2005). Personality characteristics of self-employed; An

empirical study. Small Business Economics 24(2), 159-167. DOI 10.1007/s11187-003-3806-3

2.Caliendo, M., Fossen, F., Kritikos, A. S. (2014). Personality characteristics and the
decisions to become and stayself-employed. Small Bus Econ 42, 787 – 814.

3.Deáková, K., Drážovská, K., Grznárik, D., Kondášová, I. (2010). Entrepreneurship.

Bratislava: SOPK.

4.Fetisovová, E. akol. (2012). Aktuálne problem financií malých a stredných podnikov.

Bratislava: Ekonóm.

5. Flešková, M., Babiaková, B., Nedelová, G. (2011). Preferencie vysokoškolských študentov

v profesionálnom živote a ich predstavy o vlastnom podnikaní. E+M Ekonomie a management,
1/2011, 97-111.

6. Frese, M., Gielnik, M. M. (2014). The Psychology of Entrepreneurship. Annual Review of

Organizational Psychology and Organizational Behavior, Vol. 1, pp. 413-438. DOI
10.1146/annurev-orgpsych-031413-091326

7. Goktan, A. B., Gupta, V. K. (2015). Sex, gender, and individual entrepreneurial orientation:
evidence from four countries. International Entrepreneurship and management Journal, Vol. 11,
pp. 95-112.

8. Honjo, Y. (2015). Why are entrepreneurship levels so low in Japan? Japan and the World
Economy, 36, 88-101.

9. Hvide, H. K., Panos, G. A. (2014). Risk tolerance and entrepreneurship. Journal of

Financial Economics, 111: 200 – 223.
THEORETICAL
BACKGROUND