Personality traits & the challenges of Business and Management - An empirical study of AutomotiveIndustry.

Abstract

Achieving  sustained  sound  economic  performance  in  a  fiercefully competitive  environment  demands  excellent planning & executing skills. This necessitates a host of Personality traits, predominant among  such  of  whom  are Machiavellianism  and  Locus  of  Control.  The  objective  of  this  research  work  is  to  understand their role in facing the challenges of Business and Management. The current survey based  explorative  &  descriptive  research  focused  on  the  said  Personality  Traits  of  100  randomly  chosen  Medium  &  Small  Scale  Entrepreneurs,  who manufacture  Automotive  Components/OEMs  and  in  turn  supply  to  the Automotive Component Giant  - BOSCH  Ltd., Bangalore. The  study determined  the  two  personality  traits by administering  two structured questionnaires and cross verified  the same with  their  average  annual  business  performance.  Interestingly,  the  research  has  found  that entrepreneurs  with  higher Machiavellianism and Internal Locus of Control are more successful. Hence, every entrepreneur  should  have  these  traits  to  achieve  his  entrepreneurial  success,  sustain  it &  grow  and  thus meet  the  challenges of Business.