Report for the subject

INNOVATION & ENTREPRENEURSHIP

(UTA012)

Submitted by
AYOSHEE BERIWAL (101615028)

Report Title: Entrepreneurs with their Big Five Traits

Dr.Karamjit Singh Sandha

LECTURE FACULTY & LAB FACULTY

VENTURE LAB,
THAPAR INSTITUTE OF ENGINEERING AND TECHNOLOGY, PATIALA
Session: January – May, 2019
(Date of submission: 25/01/2019) Comment [p1]: To be mentioned by
students
 OPRAH WINFREY
Oprah Winfrey was born in the rural town of Kosciusko, Mississippi, on January
29, 1954. She is an American television host, actress and producer best known for
her self-titled, multi-awarded winning show, which has become the highest-rated
program of its kind in history. She has been
ranked the richest American of the 20th Century,
the greatest black philanthropist in American
history, and was once the world’s only black
billionaire. Oprah Winfrey, worth a record $4
billion, becomes one of the world's 500 richest
people.
Through the power of media, Oprah Winfrey
has created an unparalleled connection with
people around the world. As supervising
producer and host of the top-rated, award
winning The Oprah Winfrey Show, she has entertained enlightened and uplifted
millions of viewers for the past two decades. Her accomplishments as a global
leader and philanthropist have established her as one of the most respected and
admired public figure today.

The Big Five Instruments relating to Orphan Winfrey’s life has been analyzed
below-

Extraversion-
In January 1984, she was invited to Chicago to host a faltering half-hour morning
program on WLS-TV. In less than a year, she turned AM Chicago into the most
talked show in town.
The groundbreaking live multimedia sessions taught by Oprah have been
downloaded or streamed more than 25 million times.

Agreeableness-
The Queen of Talk has personally millions of dollars to victims of poverty and
disease. According to her, none of her achievements make her more proud than the
two schools she opened for South Africa’s neediest girls and the 2011 Launch of
OWN: The Oprah Winfrey Network, a joint venture with Discovery
Communications. She has definitely proven to be a truly powerful and determined
woman. Her life goal is to create positive change.
Conscientiousness-
The Color Purple, Winfrey’s Performance earned her
nominations for an Oscar and a Golden Globe Award
as best Supporting Actress. Her love for acting and
her desire to bring quality entertainment projects into
production prompted her to form her own production
company, Harpo Productions, Inc., in 1986. At the
age of 17, she became a part time reporter for station
WVOL, Nashville. Owning her program, The Oprah
Winfrey Show, and her studio production company, Harpo did not stop her to run
her OWN channel. She believes that in order to move forward you need to back.

Emotional stability-
Winfrey was born into poverty to a single teenage mother and later raised in an
inner-city Milwaukee neighborhood. She had to go through considerable hardships
during her childhood.
Motivated in part by her own memories of childhood abuse, she initiated a
campaign to establish a national database of convicted child abusers, and testified
before a U.S. Senate judiciary Committee on behalf of National Child Protection
Act which was later signed by President Clinton.

Openness-
In the 2008 Presidential Election, Winfrey publicly endorsed a political candidate
for the first time, hosting a fundraiser for Senator Barack Obama and appearing
with him at campaign events.
She appears on every list of the world’s leading opinion-makers and has been
rightly called “THE MOST POWERFUL ENTREPRENEUR IN THE WORLD”.
 JEFF BEZOS
Started from a garage and turned into a widely recognized online portal for
shopping. Jeff Bezos’ brainchild Amazon has helped him reach the peak of success
and made him the king of the internet. With a net worth of US $106 billion, Jeff
Bezos is the richest man on the planet after the
Amazon shares showed a hike on January 9,
2018. He is the second person to touch US
$100 billion mark after Bill Gates in 1999 but
he is the first person who ever touched this
mark of wealth.
Jeff Bezos is a risk taker and a ruthless boss
who does not tolerate complacency at any
cost. On the other hand, Bezos is a hopeless
romantic and wears his heart on his sleeve for
the grounds he believes in.

Here is a list of 5 such traits of Jeff Bezos personality which make him the man
he is-

Openness-
Openness is a general appreciation for art, adventure, unusual ideas, imagination,
curiosity, variety of experience. Bezos believed in the fact that you should not just
listen to your customers but also understand them. He was not competitor obsessed
but he was customer obsessed. According to him, focusing on the company makes it
more resilient. He had an opinion of positive word of mouth, as he thought if you
make customers unhappy in the physical world, they might each tell six friends but
if you make customers unhappy on the internet, they can tell 6,000. He always
strived to create customer centric company.

Conscientiousness-
In the early days of Amazon, the executives wanted to know if it would be worth
the cost to place advertisements on television. So they looked forward for two
markets with a good blend of the customer demographics they target, and they
found Portland and Minneapolis to be the best. They ran a test for 16 months, which
is much longer than most companies would experiment. But Bezos said that
Amazon was “unbelievably fixated on it” and that it was a “long expensive test, but
we were really determined to understand this for our company once and for all.”
While the ads did give Amazon a slight bump in sale, Bezos determined that it
wasn’t enough to justify the costs. So while this experiment was lengthy, it proved
helpful for Amazon’s strategy.

Agreeableness-
“If you double the number of experiments you do per year you’re going to double
your investments.”
The founder of Amazon.com is one of the pioneers of the e-commerce industry. Jeff
Bezos’s growth chart is an upward curve which doesn’t look like taking a dip over.
From starting out at a desk job at D.E. Shaw in to establishing the undisputed king
of American E-commerce industry to investing in space journey programs, Bezos
has conquered everything.

Extraversion-
Expansion of Amazon from a pure book selling to selling other items was a
major role. Bezos invested in variety of projects like Blue Origin, Washington
Post, Neuroscience and many more. However in his personal life, he lacks
any interest.

Emotional stability-
Bezos has one of the most crucial personality traits that is a must in any aspiring or
successful entrepreneur. The man is a realist; he thinks and weighs all the
possibilities and probabilities. Before launching Amazon in the world, he had
accepted the fact that the venture might fail and the investment would go down the
drain. He has the habit of recognizing the adverse effects and taking the decision on
the basis of his assessment. He has the habit of thinking in a practical manner and
strongly refrains from acting on instinct.
 NARAYANA MURTHY

N.R. Narayana Murthy is an IT industrialist and co-founder of Infosys.

Often referred to as the father of Indian IT sector, the man with a net worth of $1.9
billion is known to be amongst those who need no introduction, and their work
speaks for them.
Presently, he acts as the Chairman Emeritus of
Infosys. Some of the services the company offers
include business consulting, technology,
engineering, and outsourcing services.
Since his retirement from an active role in Infosys,
Narayana has been an active part of his private
investment firm to backs start-ups, Catamaran
Ventures.
Additionally, he has Co-chaired the World Economic Forum in Davos, and has also
served as a director on the boards of DBS Bank, Unilever, ICICI and NDTV, in the
past.
He has also been honoured with India’s most prestigious awards Padma
Vibhushan (2008) and Padma Shri awards (2000).

The Big Five Personality Model is appropriate to describe Mr. Narayana Murthy’s
personality so we will use this model. According to this model-

Extraversion-
Murthy is very friendly and socialite person. He always raises his voice
for social issues in India as election, poverty, unemployment etc. He is
also a part of various education institutes of India as well as of foreign countries.

Agreeableness-
Undoubtedly Murthy is a person who is good natured and
c o o p e r a t i v e b e c a u s e because he manages to make Infosys a successful
company through the proper understanding with other founders of Infosys.
Conscientiousness-
Narayana Murthy is a person who already set his targets, goals and
worked with other in organized and accurate way to get his destination.
He is honest because he handles to work in a group for a long time
without any controversy.

Emotional stability-
He is emotionally very stable person and do not show his emotions to
others.

Openness-
Murthy is a person who is eager to increase his knowledge as we can understand
that in 1970s computer field was new and not a secure one but he choose that
because of his tendency to amplify the understanding.