Name:

Liqa-e- Muhammad
Reg no:
L1f20bsse0141
Teacher:
Amna Shafiq Minhas
Subject:
Fundamental Marketing
Assignment No: 1
 Qualities of a good business man:

PROFESSIONAL QUALITIES:
Some of the professional qualities of the good business to bring their business to the
higher scale are as follow:

1. Determination and will to succeed:

A businessman ought to have bravery and fighting spirit. There could be initial failures and

setbacks. He shouldn't allow them to have an effect on his focus and concentration. He ought
to possess patience and perseverance to fight against all issues and overcome all
hindrances to attain success.

2. Initiative and quick decisions:

A businessperson cannot sit up for things to happen. He has got to grab the opportunities

that emerge and convert them into winning businesses. He must be fast in taking selections;
as a result of any delay on his half would profit the competition. Speed to promote is
incredibly vital in today’s intensely competitive setting.

3. Smart thinker:
A businessperson ought to be a sensible thinker, perceive changes that are happening,
spot rising opportunities and utilize them for the success of his business.

4. Integrity and morality:

The name and image designed by a business plays a crucial role in determinative its success.
Businessmen United Nations agency delight in corruption or resort to dishonest suggests
that cannot survive within the long-standing time. Thus a man of affairs ought
to be truthful in his dealings.

5. Education and training:

 The main quality that brings the business to success is the education and the training of the
businessman. If the person have good and high level quality and the education or the training
than they bring there business to high scale and success such as Henry Ford (Ford Motor
Corporation) were ready to attain success while not the advantage
of teaching, it's associate accepted proven fact that education and coaching increase the
probabilities of success.

6. Continuous Learning and Updating:

The pace of modification is fast and extremely unpredictable in today’s business setting.

Product life cycles became shorter thanks to ever-changing preference of
consumers and fast advancements in technology. So continuous learning and updating of
data is that the key to success.

Businessmen ought to learn and keep themselves updated regarding the changes within

the business setting together with the newest trends, new product introduced by
competitors, fashions, technology, business models, best practices etc.

7. Dynamic Leadership:

A man of affairs ought to have dynamic leadership qualities. He ought to be ready

to offer the proper direction and steering and encourage his staff to higher levels of
performance. Sustained success of any business depends on the standard of leadership.
There are several instances wherever poor leadership has resulted in once
profit creating firms to fail, whereas effective leadership has circled loss-creating entities
into profit creating organizations.

8. Risk taking ability:

Every business venture involves some quantity of risk and uncertainty. Profits don't seem to
be bound and there's chance of acquisition losses. At identical time it's true that ‘nothing
ventured, nothing gained‘. Thus the businessman ought to have the power to
require calculated risks by analyzing the varied business opportunities furthermore because
the risk and come concerned in them.

PRACTICAL QUALITIES:
Apart from the above-mentioned qualities, a businessman should possess commonsense,
courage, dedication, patience, tact, charm and emotional stability to succeed in business.
 He should be kind-hearted and have human approach to problems. He should be intelligent,
mentally alert, of constructive imagination, self-confident, self-restraint, honest and sincere.
Above all, he should be social and be a man of high character.

1.Courage:
Business man give courage to themselves and there employees that there is
nothing impossible to do and to bring over business to success and no one destroy
our courage and power.

2.Patience:

The biggest quality that makes the businessman good is the patience. Business man must have
the power of patience . Patience will reward us with positive
recognition, higher sales, enhanced client satisfaction or stronger profits. Prudent decision-
making: once it involves creating sound choices, patience is that the most redoubtable
resource. Patience keeps us. out of the reach of negative thoughts that would cloud our
judgment.