Inculcating Entrepreneurial Characteristics as aNecessaryDriver among Entrepreneurs for Regional Development

Abstract

This paper provides evidence on how lack of entrepreneurial characteristics among entrepreneurs makes a region laggard. This is done by conducting a comparative analysis the entrepreneurs of developing regions with that of developed regions of India. The first state is an old and developing one better known as Jharkhand which is compared with NCR, a developed one. Data were collected through survey method and included 152 entrepreneurs from Jharkhand region and 150 from NCR region who ran exclusively manufacturing units of medium and large scale industry. The findings show that there is a difference in entrepreneurial characteristics among the entrepreneurs of the two regions. The entrepreneurs of the Jharkhand region lack the important characteristic like the need for achievement, opportunity recognition and etc. The findings of this paper suggest that inculcating entrepreneurial characteristics are considered to be indispensable in developing an entrepreneur’s sense of competitive advantage leading to the development of a region. Thus measure should be taken by the state government of Jharkhand to hone the characteristics of the entrepreneurs so that they acquire necessary competency for regional development.