QUALITIES REQUIRED OF A SUCCESSFUL BUSINESS PERSON 

  FORESIGHT

Business is made up of risks and uncertainties.   Unless business persons can forecast their risks and uncertainties with a reasonable degree of accuracy they will not be able to provide against these risks and uncertainties.   In addition, the function of planning which is extremely important to business is dependent on the forecasting ability of business persons.   The quality of business planning and all other actions of business persons will be useless if this planning is not sound.

ADAPTABILITY

Successful business persons must have the ability to adapt themselves to all kinds of people and situations.   They should not resist change, they should have an open mind and adjust themselves to any change situation.

SELF CONFIDENCE

Self confidence is the foundation of success in any activity.   Good business persons should have confidence in their policies, decisions and actions.   They should not lose hope if they do not achieve success in a failed project.

WIDE KNOWLEDGE

Business persons should know and understand their business in and out.   They should know what they are to do and how to achieve it.  They should have knowledge of all affecting factors either economic or non-economic.   Business persons who do not find their employees are putting things across them ultimately lead their business to a failure.   Skills in business management are also necessary.

TACT AND COURTESY

Business persons should handle their employees and customers tactfully and courteously.   Otherwise they might feel the consequence of non-cooperation from their staff members or loss of customers.   Remember that “the customer is always right”.

INITIATIVE AND DECISION MAKING

In business, making decisions at the right time and situation are very important.   Opportunities have to be taken when they come.   Not taking decisions or delaying in decisions may result in loss of opportunities.

HONESTY

To be honest in business means that business persons should deliver the right quality, the right quantity, at the right price.   In the long run, it is the honest business persons who succeed.

BEHAVIOUR CONSISTENCY

Good business persons adapt consistent policies towards their customers, employees and suppliers.

EMPATHY

An effective business person should develop this art of understanding by putting himself or herself in the shoes of that person and thereby understanding that person’s viewpoint or problem.

SPECIAL PERSONALITY

A good business person is one who has self control, a lot of common sense, presense of mind, sincerity, integrity, honour, sense of justice, dignity, courage, and above all a moral character that is unquestionable.