Business management characteristics that identify successful business entrepreneurs

Abstract

The study aimed to identify and determine the vital business characteristics that ensure entrepreneurs develop successful business management. This study is descriptive and exploratory. The approach used was quantitative. The type of research was causal explanatory. The design was non-experimental and cross-sectional. The sample was census-based with 70 students from the Faculty of Business Sciences of the Private University of Tacna. The survey technique was used, whose instrument was the questionnaire with multiple-choice questions and a Likert scale. The reliability of the instrument with Cronbach's Alpha was (0.932), indicating high reliability. The results of the chi-square statistical test showed that only two business characteristics were significant: financial planning and the economic and financial evaluation of business operations. With the statistical analysis of multiple regression, it was determined that the characteristic that has the greatest impact on successful business management of entrepreneurs was the one associated with the economic and financial evaluation of businesses. It is concluded that entrepreneurs, in order to achieve successful business management, must master and manage financial planning techniques and economic business evaluation criteria.