Personal Attributes and Business Management
| Subject: | 💭 Psychology |
| Type: | Personal Narrative Essay |
| Pages: | 3 |
| Word count: | 981 |
| Topics: | Creativity, Entrepreneurship, Innovation, Marketing, 🙋♂️ Management |
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Successful business owners often show hundreds of remarkable character traits which are linked to their success. However, when you compare the character traits behind these successful business owners, you find a few traits that they all have in common. For instance, all successful business owners have the character trait of being self-driven, confident and passionate (Longenecker 2012, p.552). Without these characteristic traits it would be hard for an individual to own and manage a business. The present document is a critical evaluation of my personal attributes to determine if I have what it takes to run my own business. While business demands technical business knowledge, it is integral to understand the need for personal attributes and their application in proper business management.
I took two different tests to determine my personality. One test was the FACETs test and the other GET2 test. The outcomes of the FACETs test showed that I am highly energetic, joyful, friendly, imaginative, conceptual, insightful, progressive, ambitious, tolerant, interdependent and expressive; all the right traits to make a good business owner (Longenecker 2012, p.552). However, I scored poorly in the areas of discipline, having a schedule, being orderly and agreeable. Entrepreneurs are required to be energetic, creative and insightful to ensure the progression of the business and ascertain that the business is able to advance with the different contemporary developments. Hence, I possess the required skills to ensure that I am always ahead of the competition through the application of the different attributes such as imagination and conceptual thinking (Cirella, 2016, p.332). In addition, I will employ my energetic nature to increase my work hours and ascertain proper management of the business through being present at the business and ensuring ideal management of human resources. Being progressive and ambitious, I am an individual that will settle for nothing but the best. Thus, I will employ all my abilities and resources to ensure that I attain the highest standards in the industry that I choose to explore (Armstrong, Baker and Johnson, 1987, p.60). Moreover, I will always be able to see emerging opportunities and ventures prior to other entrepreneurs.
The GET2 test outcomes on the other hand revealed that I was a calculated risk taker with a tendency for needing autonomy. In this test, I scored poorly the locus of control, creative tendency and a need for achievement categories. The high score in the need for autonomy category reveals that I like to take charge of projects while being a calculated risk-taker shows that I know how to avoid risks (Longenecker 2012, p.553). On the other hand, having a poor locus of control shows my weakness where I may tend to over-rely on others rather than having self-confidence. Being a calculated risk-taker, I possess the ability and capacity to judge and avoid possible channels that may result in losses to the business. However, I am able to demonstrate proper decision-making abilities through considering all the possible outcomes in selecting a given approach in business. However, I will ensure that I improve my creativity skills through exposure to more business ideas and discussions with my friends (Lumsdaine and Binks, 2009, p.25). This is bound to improve my creativity and enable me to view different situations from numerous aspects, which is demanded in business.
After taking the tests, I realized that many attributes I have may be great for building my own business. Some of the characteristics of good business owners are that they are self-driven, budget-minded and open-minded; this compares to my attributes of being ambitious, insightful and also a calculated risk taker according to the FACETs test and therefore I would make a very good business owner. More to this, I am tolerant and interdependent hence it would be easy for me to manage the workforce at my business (Longenecker 2012, p.553). Therefore, I demonstrated significant potential that is bound to assist me in the advancement of my career goals and seizure of business opportunities in the contemporary world.
Nonetheless, I found out that I needed to improve in some areas if I was to become a better business owner. I had a low score in the areas of having a need for achievement and also in having an orderly schedule. The tests showed that my character is that of being spontaneous rather than orderly hence I tend to go with the flow and therefore I lack a time schedule. This lack of an orderly schedule needs improvement since a good business owner is focused and goal-oriented. It is also important for business owners to learn to exert control over their projects and have greater self-confidence as this will prevent them from being over-reliant on others such as partners and clients; this would be such a great risk for a business (Longenecker 2012, p.553). In this way, I will also improve by endeavouring to be a self-reliant person rather than being interdependent. I will work on improving my time-management abilities through ensuring that I develop the practice of always being on time. This is imperative in the business world since timeliness is important in ascertaining profit-making in business and that one captures the business opportunity prior to dismissal of the opportunity in the market based on the product development life cycle (Griffin, 2002, p.292).
In conclusion, making a business successful highly depends on the character traits of the business owner. Successful business owners show the traits of being self-driven, disciplined and focused. As for my personal attributes, I am self-driven since I am an ambitious person but I lack in the area of being disciplined and goal oriented as such, I will take it upon myself to be a better planner and have a time schedule; this will encourage me to be more focused and goal oriented. This will ascertain that I am able to demonstrate proper management and creative skills that are required to ensure the smooth operation of a business.
- Armstrong, P., Baker, A. and Johnson, J. (1987). Ambition and Achievement: A Study of Small Retailers. International Small Business Journal, 5(4), pp.59-63.
- Cirella, S. (2016). Organizational Variables for Developing Collective Creativity in Business: A Case from an Italian Fashion Design Company. Creativity and Innovation Management, 25(3), pp.331-343.
- Griffin, A. (2002). Product development cycle time for business-to-business products. Industrial Marketing Management, 31(4), pp.291-304.
- Longenecker, J. G. (2012). Small business management: launching and growing entrepreneurial ventures. Mason, OH, South-Western Cengage Learning.
- Lumsdaine, E. and Binks, M. (2009). Entrepreneurship from creativity to innovation. 1st ed. Victoria, B.C.: Trafford Pub.
Offered for reference purposes only.