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What Are the Qualities that Help an Entrepreneur in Being Successful?

Introduction and Background

The paper deals with qualities of an entrepreneur that are useful and make him/her successful in their endeavours and business ventures. Hence, the character attributes and the interpersonal communication the leader or manager can induce find place in the paper. In this context it is important to quote Zimmerer, Scarborough, Wilson (2007) talk about the nature of an entrepreneur to use tools as well as theory for the success in a venture. Zimmerer et al.,(2007, page 27) talk about transform the great business idea into reality and it is important to consider interpersonal communication as well as the character attributes of the leader in the above mentioned context of making business a success as well as making it capable to sustain and grow. Hence, Interpersonal communication, character attributes of leader that are capable of influencing the employees and the organizational behaviour set by the behaviour of the leader play an important role to create a culture of innovation. Zimmerer et al., (2007, page 67) mentions the just-mentioned culture of innovation, which is important for leader as well as employees to do things differently rather than doing different things. In doing things differently, the superior customer service mentioned by Zimmerer et al., (2007, page 68 comes to the fore as it is an aspect that has enough space to show innovation. Hence, the way the interpersonal communication created by leader, his/her character attributes as well as organizational behaviour plays key role in the development of a company. In addition to that some contexts that helped a leader to innovate as well as to develop the company are mentioned. The company considered here is Pepsi Co. led by Indra Nooyi and talks about her capabilities and character in business as well as the organizational behaviour of Pepsi Co. in her leadership (Zimmerer et al., 2007).

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Aims and Objectives

To know the character attributes of an entrepreneur and the ways and means to develop interpersonal communication between employees. Moreover, the analysis of qualities of entrepreneur who can mould organisational behaviour through his behaviour finds place in the paper. As the organisational behaviour affects production and marketing while working in a foreign and domestic market, how does an entrepreneur manage them for the success of the company?

Literature Review

In the introduction it has been mentioned that not only theories, tools and strategies also are important for success in business. In the above context, Jacob Nina (2003, page 136) quotes that one can mention the strategy of Pepsi that had a proprietary contract with the Indian government, which allowed it to be a cola provider in India without competition from Coca-Cola. This type of agreement by a company with a government needs good communication skills by top leaders as well as strategic acumen. This is because; the agreement is to avoid the competitor Coca-Cola in a market outside USA. This gives an added advantage to Pepsi Co against Coca-Cola as it takes time for the latter to enter the Indian market and in the mean while the former can consolidate its position in a new market (Nina, 2003).

Though the above-mentioned step by Pepsi is an act of strategy, it does not involve good interpersonal communication tools as in the time being Coca-Cola has been allowed to market its product in India and is doing better. Entering a market can be termed as strategic but capturing it needs good interpersonal communication between the employees of company. In the above context, the context of a company spending millions of dollars to get their company name on a stadium or brand logo on a uniform comes to the fore. The company uses the event as client cultivation and to get new clients and retain the existing customers. The company can use this occasion as a good opportunity to develop interpersonal interactions as sports and other events that company sponsors are fine platforms for developing interpersonal communication between its employees. Hence, the timely strategies of the leaders in the company can result in good interpersonal communication in the company as Pepsi sponsors many events as part of promotional activities for its products (Kevin Gwinner, 2005, page 173).

Operational Issues

Regarding operational issues and expanding the company’s activities to other countries, the observation of the host country’s government policies are important by the head of the company. In this context, Indra Nooyi of Pepsi Co though being a person of Indian origin praised the activities of China in attracting foreign investments and used its policies to relocate, restructuring and outsourcing of productive economic activity characterized by cross border movement factors. The factors like production, knowledge, technology and services and the interaction as well as the organizational behaviour are affected by the policies of government of host country. The company has successfully used the Chinese foreign policy to expand there and managed the volatility of the globalization by openness in the policy of China (Subramanian Swamy, 2005, page 88-89).

Findings and Analysis

In this chapter, the aspects of literature review are analysed according to the behaviour of the leader as well as the strategies of the company he/she is working by taking suitable company in a context.

Strategy and Pepsi Co

One character attribute of leader of Pepsi Co is the strategic ability that affects the nature of the business. Thinking that opportunity was still there and leading the team is a good thing that Roger had done and brought Indra Nooyi as senior executive for strategic planning aspect. Both of them observed the need of leveraging the global brands of company and created the necessary cash flow through selling some firms and by divesting. When they discovered that the strengths and opportunities are in convenient packaged foods and beverages, they acted accordingly and changed the face of Pepsi Co.

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Character Attributes

In the above context the determination and convincing capabilities of the leader play a major role as the selling the restaurant chains as well as divesting in the company may face opposition from the company’s executives and CEO as well as chairman has to convince them and in turn they convince their teams. All the above acts were performed successfully by Indra Nooyi and Roger as they changed themselves and their team before they are forced to do so and the above aspect can be termed as a character attribute of a leader that develops good interpersonal communication between employees while discussing about their duties as well as the actions of the top leaders (Indra Nooyi, 2002, page 1-8).

Another character attribute that can be brought out in this context is keeping cool in hot water. Indra Nooyi at Pepsi Co exhibits the above aspect with discerning business sense as well as irreverent personal style. When she recognized that the company as well as employees is not capable enough to add enough value to fast food business, she spun it off and pushed the company to purchase Tropicana and engineered a merger with Quaker Oats Co. This sends the signals to employees that the company is safe to work with as it is capable of recognizing the company’s capabilities as well as their talents. In addition to that she mingles with the employees and she even helps senior executives belt out tunes at a management conference earlier this year. Her style of driving the things with heart and fun can win the employees hearts and the same thing happened in Pepsi Co. Hence, she is a person who can make a difference by her presence and can make employees come out with their originality that is useful to the company. Hence she drives a good interpersonal communication in the employees with the slogan ‘performance with purpose’ and making them to move freely while in the duty (Special Article, 2007).

Environment and Promotion of Interpersonal Communication

Moreover, Pepsi Co. in the leadership of Indra Nooyi concentrates on emotional intelligence as well as academic one. It is evident from her speech in Columbia Business School in 2009 in which she talked about the positive intent one can get through all the actions of staff in international business stage. Hence, the company concentrates on creating positive atmosphere between employees as the management has to deal with the employees of different countries in various geographical locations. According to Indra Nooyi (2009), emotional intelligence is increasingly relevant as it can ensure the development of employees’ standards in a company as emotional quotient is responsible for people’s management styles and attitudes. In turn it is also responsible for interpersonal skills that can increase potential of a person. Hence, leaders like Indra Nooyi concentrate on interpersonal skills that enhance the potential of human resources of a company (Admin, 2009).

Work Environment

After the acceptance of emotional intelligence the interpersonal communication depends on work environment. According to an article on blogcatalog.com (2009), the work environment affects substantially the attitudes of employees. Though the employee comes to office in a good mood, the bad environment is capable of dragging him/her down the positive energy present. Hence, organization of work is important so that no point of ego between employees as they are used up to the work. However, it is important to ensure that the leaders and managers interact with the employees frequently to avoid reluctance in them and to motivate them to show innovation in their work. The interaction helps to know about the negative feelings in employees and to remove them accordingly for a better interpersonal communication between them (Admin, 2009).

Work Place Resources

The interpersonal communication can also be enhanced by minimizing the workplace politics or by better handling of power and control as well as by building relationships to manage diplomacy. In the above context, Steve Jobs is an example of charismatic vision, which motivated the employees of ‘Apple’ to negotiate deals as well as cultivating the consumer. The leader’s energy and excitement can stir passion in his people and can convince them about making the goals of the company possible regarding production as well as marketing. When, the need of increasing production is necessary, the energy and excitement of the leader that can incite good interpersonal communication between employees can have good results on production activities as the zeal of employees is necessary to increase production without increase in the staff. In the above context the zealotry in the people like Steve Jobs can help in increasing production as well as marketing as the employees talk and think about their work as their target instead of thinking it as a duty. The passion of a leader should be contagious, persuasive and inspiring and yet times informal dress also talks with staff as though he/she is part of them. However, if the micromanaging and perfectionism is absent, the drama of a leader like Steve Jobs can dive the people away from the company instead of making them enthusiastic (Kelly Pate Dwyer. (2009).

In addition to that it is important for a leader to observe the workplace as a political environment and has to operate effectively to avoid being sucked up in the politics. He has to secure promotion of work by gaining the support of employees to establish an organizational behaviour to make the production and marketing activities to go in a better and in an organized manner. In the presence of politics and the absence of strong relationship between leader and employees, the production and the marketing may be negatively affected and thus resulting in the absence of interpersonal communication. Hence, the relationship between leader and employees as well as the one between them is important for interpersonal relationship that is capable of promoting production as well as marketing according to the need of the organization (Kelly Pate Dwyer, 2009).

Getting a Head in Organization

It is important for a leader to know the matters of organizational behaviour as they know about the nature of business. Moreover, the employees should like the leader and that depends on series of interconnected relationships from top to bottom in an organisation, which decide the direction of organisational behaviour also. This is because; when everyone in an organisation tries earnestly to get along with each other the production as well as marketing activities go well. The above aspect needs the interconnection between employees, which is possible by interpersonal relationships. Hence, misplaced loyalties and perceived obligations should be avoided as they are capable of spoiling interpersonal relationship between the employees as well as between leader and the employees. Hence, leaders like Indra Nooyi and Steve Jobs work in a manner in which the loyalties and relationships cannot trump the competence but can increase it as a whole. This is necessary for every leader and makes him/her capable of avoiding politics and enhances capability of an organisation (BNET Editorial, 2009).

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Conclusion

As per the discussion in the paper, the innovation in production as well as marketing needs interpersonal communication between employees of an organisation. This can be evident from the fact that Indra Nooyi is able to convince Roger to enter packaged food business from fast food sector. In addition to that, the way she deals with the employees develops rapport with them and makes things in the company to go well. In addition to that it is necessary to motivate employees and pass on the passion of achieving gaols from the leader to the employees from the interactions from top to bottom and this aspect is possible only with interpersonal connections as well as communication. In order to achieve that the leader should have good character attributes that employees normally adore.

Reference

Admin. (2009). So What Does Emotional Intelligence Have to Do With Business?. Web. 

Admin, (2009). The 3 Things that are Harming Your Work Environment. Web. 

BNET Editorial. (2009). Coping with Office Politics. Web. 

Indra Nooyi. (2002). Suggested Remarks Indra Nooyi. Web. 

Jacob, Nina. (2003). Intercultural Management. Milford, CT, USA: Kogan Page, Limited.

Kelly Pate Dwyer. (2009). Techniques of the Office Politics Masters. Web.

Kelly Pate Dwyer. (2009). How to Win at Office Politics. Web. 

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Kevin Gwinner. (2005). Image Transfer in Global Sport Sponsorship Theoretical support and boundary conditions. In Amis, John M., Cornwell, T. Bettina (Eds), Global Sports Sponsorship. Pp. 163-191. Oxford UK: Berg Publishers.

Special Article. (2007). Indra Nooyi: Keeping Cool in Hot Water. Business Week. Web.

Subramanian Swamy. (2005). Chasing India: Can India Bridge the Gap. In Friedman Edward., Gilly Bruce (Eds), Comparing China and India. Pp. 88-108. Hampshire, USA: Palgrave Macmillan.

Thomas W. Zimmerer, Norman M. Scarborough. (1997). Essentials of Entrepreneurship and Small Business Management. New Delhi, India: Prentice Hall.

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StudyCorgi. (2021, November 9). What Are the Qualities that Help an Entrepreneur in Being Successful? Retrieved from https://studycorgi.com/what-are-the-qualities-that-help-an-entrepreneur-in-being-successful/

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StudyCorgi. (2021, November 9). What Are the Qualities that Help an Entrepreneur in Being Successful? https://studycorgi.com/what-are-the-qualities-that-help-an-entrepreneur-in-being-successful/

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StudyCorgi. "What Are the Qualities that Help an Entrepreneur in Being Successful?" November 9, 2021. https://studycorgi.com/what-are-the-qualities-that-help-an-entrepreneur-in-being-successful/.

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StudyCorgi. 2021. "What Are the Qualities that Help an Entrepreneur in Being Successful?" November 9, 2021. https://studycorgi.com/what-are-the-qualities-that-help-an-entrepreneur-in-being-successful/.

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