Analysis of Entrepreneurial Traits: Evolution and growth process of MSMEs

Abstract

The rising interest and awareness on entrepreneurship has become a regular topics discussed among academician and politician for its unique impact on society and economy. Nowadays many governments speak about the entrepreneurial ecosystem. The entrepreneurial ecosystem refers to all elements that help or hinder a person to become an entrepreneur or the possibility to achieve success. In light of the broader impact of reforming the entrepreneurial ecosystem, and the necessity of a greater impact of the SME sector, it seems relevant to study the role of entrepreneur’s ability to reform entrepreneurial ecosystem as the ecosystem is mainly controlled by the entrepreneur himself. The significance of entrepreneurial traits is becoming more visible in the present dynamic, complex and challenging global economic environment but there is no easy prescription to construct uniform entrepreneurial traits that would lead to enterprise success. Entrepreneurial environment and activity is also rapidly changing due to globalization and other external variables. Accordingly there is emergence to revisit the entrepreneurial traits. For this it is essential to know how these traits interact with external variable of environment and organization. Different scholars have attempted to find out significant traits of entrepreneur but the aim of the present study is to build up a conceptual model to realize the contentious interaction of traits with internal and external business environment. It is no longer possible to depend exclusively any one theory to predict growth and sustainability of firm .For this we must understand the complex and interdependent relationships between the  entrepreneurs’ personality and business atmosphere in which the firm operates thus we can construct  an entrepreneurial index. So this paper is mainly focused on essential traits of entrepreneur at different stages and its role to combat with obstacles which keep us one step ahead to develop universal entrepreneurial index and reform entrepreneurial ecosystem