Topic: Social Skill Required for a Bangladeshi Entrepreneur

Submitted by, Sahid Mahmud Rony Id: - 1010932030 MGT:-368; Section:-13

Submitted to, Saad Md Maroof Hossain (SDF) Lecturer School of Business

An entrepreneur is someone who starts a new business by considering the financial risk. There are thousands of entrepreneurs around the world, who started their business to reach their desired goal, but some of them were successful who reached to their goal; some of them were unsuccessful who did not reach to their goal. Over the years, researcher investigated on what aspect, some entrepreneurs were successful and others were unsuccessful. They found a lot of reasons, like proper planning, experience, resources, manpower, risk taking ability etc, and which are played a vital role in determining who is going to be successful and who is not. Even those who had all these skills, most of them were failed to succeed. For this reason, researcher investigated again and the found an important element which is called social skill. Researcher suggest that social skill is a kind of competencies that enable individuals to interact effectively with others, which helps to positive outcome in business context, e.g. negotiation, performance appraisal, interviews and so on. This skill also plays an important role in financial success. (Bird 1989 gartner 1988) Stated that, it is more important is what an entrepreneur does than who the entrepreneur is. The phrase social skill is made up of two terms; 1 one is social and 2
st nd

one is skill. Social: the term social indicate that as a

human being how we interact directly or indirectly with each other and the environment around us. Skill: the term skill is something which is required for accomplish a specific task. Skill is also a learned capacity which helps to carry out the predetermined results. This means social skill is a kind of skill which involves in interacting people with one another within their environment. (Caballo 1986) said, Social skill is a kind of mixture of behavior which reflects feeling, attitudes, desires, respecting other peoples behavior , resolving problems immediately so that an individuals can reduce the probability of future problems. (Gerald Brenan)Stated, to be successful entrepreneurs, people have to have interaction skill, which helps him to be succeeded in his/her business career. (Spence 1985) Categorized, social skills into three skill element: non verbal, verbal and conversional skill. Non verbal skill includes body posture, gestures and physical proximity. Verbal skill includes tone, pitch and volume. (Liberman et al. 1989) said, conversion skill refers to skills of initiating, maintaining and ending a conversation. Bangladesh is an over populated country. Around 16 billion people live in this country. That is why; growth of the business has been increased year by year. Even though having huge competition, rising of entrepreneurs is noticeable. But early stage of the business, most the entrepreneurs become fail because of not having proper social skill. It is the social skill which is crucial for getting in business success. In our country, there are a lot of supplier, customers, competitors, financial institutions and so on. It is not only important for an entrepreneur to find a business gap among them, but also have to have interaction skill which leads him/her to success. Social skill helps an entrepreneur to get more customer, supplier; it also helps in smoothing business operation. That is why, importance of social skill required for Bangladeshi entrepreneurs beyond questions. A few evidence are given below regarding social skill requirement for Bangladeshi entrepreneurs. First, ( Duck, 1994; Segrin & Kenney, 1995; Weber & Harvey, 1994; Tsui, 1998) stated that, the impact of social skill strongly affect the outcomes experienced by individual in many business context, including a business setting. Social skill like impression management, social preciseness, negotiation strongly effects on individual interview, yearly performance review and negotiation. Second, there are a lot of successful entrepreneurs in Bangladesh who have the quite well interaction skill, and they also refer social skill as their secret of success along with all other skills.

Third, Social competence is important to building organization internally. (Bird 1989) Entrepreneur form an organization intentionally, and choose a value to guide the culture of new venture. These values must be expressed for gaining participation and commitment from employees. For example, factors involve in success of a ventures (Duchesneau and Gartner 1990) found that entrepreneurs who communicate with others are more successful than others who communicate less. (Vesper 1990) Included, personal contract and relationship with others are the key ingredients in terms of forming a new venture .finally, the suggestion that social skill play a vital role in forming a new venture and it also help to convincing others to share their belief regarding what the emerging can, will and become. Forth, Social competence makes an entrepreneur professional which helps him/her to interact with others, like venture capitalist, suppliers, potential buyers and employees. (Niederkofler 1991) stated that , carefully interaction also helped in evolution of strategic alliance. Effective interaction with others also helps in raising capital needed, attracting and selecting competent employees, negotiating with customers and suppliers to do business with them under favorable condition. Completing these sort of tasks involve in entrepreneur success. Fifth, as a human being we have to interact with others. Lets think about the ancient people. From the beginning, they lived alone, but they had to face a lot of obstacle. Then they started living together, form a society. After that they started business each other. But it was so lengthy and timely process. So, some of them formed business venture, collecting all necessary from other who were willing to sell and selling the necessity thing to others. Then, they enlarged their business, for this purpose, they required a lot of suppliers, employees and customers as well. Through social skill (communicating, negotiation, convincing) they were able to enlarge their business as well as get their desired supplier, employees and customers. That is why, In our countrys business context, it is mandatory to have social skill. Because good social competences not only required for financial success, but also required for enhancing the leadership and the acceptance of the society as a person. It also helps in intensifying the good will of an entrepreneur and his/her business. In conclusion, (The Dale Carnegie Foundation) , 85% of someones financial and social success in life is determined by his or her social and communication skill (Daniel Goleman) made a big splash 1995 by publishing his ground breaking book, emotional intelligence. He said, every person has his or her ability to evaluate and monitor his or her own emotions and in conjunction with others. Then use this information to guide his or her actions, yield more success in life than innate cognitive intelligence. For our purpose, emotional intelligence is mostly made on the basis of social competences. This article also suggest that success of an entrepreneur depends 20% in IQ and the remaining 80% depends on emotional intelligence or social competences (Penelope Trunk) Stated, Significance of Social skills is more than ever; so heres how to get them. Researcher baron and markman evaluate entrepreneurs in the cosmetic and high-tech industries in their study, beyond social capital: the role of entrepreneur social competence in their financial success. They also reached to a conclusion that , all other factor being equal , the higher entrepreneur social competence, the greater their financial success. By assessing all the above evidence, we can draw back a conclusion, like In our countrys perspective, the requirement of social skill for an entrepreneur is beyond doubt.

References

Baron, R. A. (n.d.). Bird 1989 gartner 1988. Retrieved from THE ROLE OF SOCIAL SKILLS IN ENTREPRENEURS SUCCESS: EVIDENCE FROM VIDEOTAPES OF ENTREPRENEURS PRESENTATIONS, march 3, 2013.http://fusionmx.babson.edu/entrep/fer/papers99/I/I_A/I_A.html Bird 1989. (n.d.), Retrieved from THE ROLE OF SOCIAL SKILLS IN ENTREPRENEURS SUCCESS: EVIDENCE FROM VIDEOTAPES OF ENTREPRENEURS PRESENTATIONS,2013. http://fusionmx.babson.edu/entrep/fer/papers99/I/I_A/I_A.html Caballo 1986. (n.d.), Retrieved from Defination of social skills , 2013. http://www.easycoursesportal.com/HabilidadesSociales/Lecc-8.htm Daniel Goleman. (n.d.). Retrieved 3 5, 2013, from candidaabrahamson: http://candidaabrahamson.wordpress.com/2012/05/06/how-to-succeed-in-business-without-social-skills-forget-it Duck, 1994; Segrin & Kenney, 1995; Weber & Harvey, 1994; Tsui, 1998. (n.d.). Duchesneau and Gartner 1990. (n.d.). Retrieved from THE ROLE OF SOCIAL SKILLS IN ENTREPRENEURS SUCCESS: EVIDENCE FROM VIDEOTAPES OF ENTREPRENEURS PRESENTATIONS,2013. http://fusionmx.babson.edu/entrep/fer/papers99/I/I_A/I_A.html Gerald Brenan. (n.d.). Retrieved from Words of Wisdom from Great Entrepreneurs: http://www.strategicbusinessteam.com/famous-small-business-quotes/50-famous-entrepreneurial-quotes-wordsof-wisdom-from-great-entrepreneurs/ Liberman et al. 1989. (n.d.). Retrieved from Social skill,2013. http://cirrie.buffalo.edu/encyclopedia/en/article/45/ Niederkofler 1991. (n.d.). Retrieved from THE ROLE OF SOCIAL SKILLS IN ENTREPRENEURS SUCCESS: EVIDENCE FROM VIDEOTAPES OF ENTREPRENEURS PRESENTATIONS,2013. http://fusionmx.babson.edu/entrep/fer/papers99/I/I_A/I_A.html Penelope Trunk. (n.d.). Retrieved from candidaabrahamson,2013. http://candidaabrahamson.wordpress.com/2012/05/06/how-to-succeed-in-business-without-social-skills-forgetit/ Spence 1985. (n.d.). Retrieved from Social Skills,2013. http://cirrie.buffalo.edu/encyclopedia/en/article/45/ The Dale Carnegie Foundation. (n.d.). Retrieved from candidaabrahamson,2013. http://candidaabrahamson.wordpress.com/2012/05/06/how-to-succeed-in-business-without-social-skills-forgetit/ Vesper 1990. (n.d.). Retrieved from THE ROLE OF SOCIAL SKILLS IN ENTREPRENEURS SUCCESS: EVIDENCE FROM VIDEOTAPES OF ENTREPRENEURS PRESENTATIONS,2013. http://fusionmx.babson.edu/entrep/fer/papers99/I/I_A/I_A.html