Discuss the Great Qualities of a good Businessman

In the modern age we can see the various changes in the business field. Due to technological advancement it is necessary that a good businessman should possess the basic skill and knowledge about his business.

GREAT QUALITIES OF A GOOD BUSINESSMAN

Following are the important qualities of a good businessman :

1. Honest :-

It is the first quality of a good businessman that he should honest and sincere in public dealing. There should be no fraud and commercial bribery in business. If he fails to perform his moral and religious responsibility then he can not become a good businessman.

2. Efficient and Hard Worker :-

A good businessman must be hard worker and capable of working for long hours. A lazy and inefficient businessman can not compete the market.

3. Ability of Planning :-

It is a basic quality of a businessman that he should possess the ability to plan his business. For example there are various decisions like what to produce? Where to produce? Which are made by the businessman. A good planner can only make the best decision.

4. Careful About Future :-

A businessman should be careful about the future expectations. If he fails to estimate the future demand for his product then he will suffer a loss. If he has a foresight about the future then he can earn profit.

5. Ability of Financial Management :-

A good businessman tries to meet the financial needs from internal and external sources. He uses the finance in such a way in his business that it gives him maximum profit. A successful business has a quality that he can manage the finance easily.

6. Ability of Innovation :-

In the modern age new product attracts the customer easily. So a good businessman should have an ability to produce new goods and services according to his new ideas.

7. Research on Business :-

A good businessman always pays proper attention to the research work. He also uses his experiences to minimize the cost of production.

8. Steady :-

In a business there is a need of patience. A good businessman should be courageous and steady. If he fails to face the business problems on the basic stage then he will run away from the field.

9. Co-Ordination :-

A businessman should be able to coordinate the various departments of his business. For example if he wants to produce new item, then he should involve the in-charges of research. production, finance and marketing departments to achieve the common objectives. It will be beneficial for his business.

10. Technical Skill :-

A businessman should have specialized knowledge and technical skill for understanding and completing the process of production. If he has no technical skill about his business, he can not become a good businessman.

11. Sympathetic Attitude :-

A good businessman always loves his workers. He should be aware of the temperament , feelings and limitations of his workers. He should always take interest in the problems of his workers and try to solve them.They will also reply positively . It will increase the profit of the business.

12. Good Reputation :-

In a business dealings good reputation is an assets for the businessman. A good businessman always improves his goodwill and expands the business.

13. Follows the Ethics :-

A good businessman always follows the ethics rules and he never cheats others. He dislikes the commercial bribery and never uses the unethical practices.

14. Foresighted :-

It is the most important quality for the successful businessman. A businessman must keep an eye on the future. He may be able to predict for future.

15. Cool Minded :-

In competitive market for the success of business it is necessary that businessman should be cool minded and a man of balanced personality.