Preview

Characteristics of an Entrepreneur

Satisfactory Essays
Open Document
Open Document
442 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Characteristics of an Entrepreneur
Characteristics of an entrepreneur
Entrepreneurs have many of the same character traits as leaders,[10] similar to the early great man theories of leadership; however trait-based theories of entrepreneurship are increasingly being called into question. Entrepreneurs are often contrasted with managers and administrators who are said to be more methodical and less prone to risk-taking. Such person-centric models of entrepreneurship have shown to be of questionable validity, not least as many real-life entrepreneurs operate in teams rather than as single individuals. Still, a vast literature studying the entrepreneurial personality argues that certain traits seem to be associated with entrepreneurs: * Bird - mercurial, that is, prone to insights, brainstorms, deceptions, ingeniousness and resourcefulness. they are cunning, opportunistic, creative, and unsentimental. * Busenitz and Barney - prone to overconfidence and over generalizations. * Cole - found there are four types of entrepreneur: the innovator, the calculating inventor, the over-optimistic promoter, and the organization builder. These types are not related to the personality but to the type of opportunity the entrepreneur faces. * Collins and Moore - tough, pragmatic people driven by needs of independence and achievement. They seldom are willing to submit to authority. * Cooper, Woo, & Dunkelberg - argue that entrepreneurs exhibit extreme optimism in their decision-making processes. * John Howkins - focused specifically on creative entrepreneurship. He found that entrepreneurs in the creative industries needed a specific set of traits including the ability to prioritise ideas over data, to be nomadic and to learn endlessly.[11] * David McClelland - primarily motivated by an overwhelming need for achievement and strong urge to build.

The Philippines is a highly entrepreneurial country. The main reason that drives its entrepreneur spirit is its poverty. Small and

You May Also Find These Documents Helpful

  • Good Essays

    Midwife's Tale and Captivity Narrative of Mary Jemison are an excellent anecdotes to use as a source of information about the life of women throughout 17th to 18th centuries ago. Both stories will give every reader a better way of understanding the roles of women in the community during the Revolution era. However, each story narrates how these women embraced the changes occurred and how they deal with different situations. Two women, yet different tales. One became a film and the other became a successful novel. Furthermore, readers will be able to appreciate and discover the uniqueness of each stories of these…

    • 103 Words
    • 1 Page
    Good Essays
  • Powerful Essays

    Aem 1200

    • 705 Words
    • 3 Pages

    5. In lecture, we quoted Scott Shane, “The Illusions of Entrepreneurship”, as follows: “The typical entrepreneur isn’t a Silicon Valley tycoon, but rather a white man, married and in his forties, who started his business because he didn’t want to work for someone else and who is just trying to make a living. Psychological factors account for very little of the difference between entrepreneurs and other people, much less then…

    • 705 Words
    • 3 Pages
    Powerful Essays
  • Good Essays

    When thinking about a hero, one might picture a superhero swooping in and saving a bunch of people, or a general helping a nation win a battle for the better cause. These stereotypical characters have exactly what it takes to be heroes: courage, intelligence, and valor. However, what one might not realize is that to be a hero, one must have a bit of recklessness. Not recklessness in the sense of making foolish decisions to meet failure, but recklessness in the sense of taking risks in the vision of meeting success. Entrepreneurs are a perfect example of these descriptions. When creating a business, one must overcome obstacles, find solutions, and take many risks. That is why entrepreneurs must be reckless because as Michael Jordan once said,…

    • 445 Words
    • 2 Pages
    Good Essays
  • Best Essays

    Dr Arnowriter

    • 4581 Words
    • 19 Pages

    Dew, N, Read, S, Sarasvathy, S, & Wiltbank R 2008, Outlines of a Behavioural Theory of the Entrepreneurial firm, Journal of Economic Behavior & Organization Vol. 66 (2008) 37–59.…

    • 4581 Words
    • 19 Pages
    Best Essays
  • Powerful Essays

    There are 2 elements that are mentioned time and again by successful entrepreneurs as being crucial for success, to be precise the motivation and determination to succeed in your business venture and to make things happen. Successful entrepreneurs also have a healthy dose of self-confidence and an optimistic outlook on life. Entrepreneurs vary greatly, so there can be no one combination that defines an entrepreneur. However, research does suggest that a need for achievement, autonomy and an internal locus of control and a moderate tendency to take risks are key characteristics.…

    • 2447 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Small Business

    • 2023 Words
    • 7 Pages

    Yes, I have some qualities of entrepreneurial personality characterics that are self-reliance, having confidence in myself, energy, and tolerance of failure.…

    • 2023 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    An entrepreneur is a person who wants to accept, and dare the challenges, and take the risk for him to grow, and create higher opportunities as well for the profits. An entrepreneur personal characteristic is willing to adjust, adapt, and grow. He must be very creative, energetic, outgoing, intelligent, inspired and motivated in his endeavors.…

    • 504 Words
    • 3 Pages
    Good Essays
  • Best Essays

    There has been extensive research conducted on the characteristics that successful entrepreneurs possess. These attributes vary widely across literature, however there are common key traits that are required to achieve any form of success. Frederick et al (2013) suggest entrepreneurs are risk takers, optimistic, have sound judgement and an ability to manage. While a review of literature relating to the psychology of an entrepreneur reveals a large variety of characteristics in a successful entrepreneur, these can be consolidated to a a few into only a few traits that are essential for a successful entrepreneur. Whilst taking into consideration Frederick et al (2013) point of view of key characteristic, other research suggests that there are further primary attributes that a successful entrepreneur necessitates.…

    • 2185 Words
    • 9 Pages
    Best Essays
  • Satisfactory Essays

    Entrepreneurs tend to be people with common qualities. Some of those are commitment, and dedication beyond the norm. They tend to have an open mind and the desire to be an expert at what they do. They are people that have a constant flow of ideas and a never ending desire to succeed. They are tenacious, have a thinking ahead sort of approach on life, and are a constant flow of ideas.…

    • 748 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Leadership and Entrepreneur

    • 3140 Words
    • 13 Pages

    Chell, E. (1999) ‘The Entrepreneurial Personality: Past, Present and Future’, Occupational Psychologist, Vol 38, pp 5-12.…

    • 3140 Words
    • 13 Pages
    Powerful Essays
  • Good Essays

    Men of Honor

    • 1505 Words
    • 7 Pages

    An entrepreneur is a person who organizes, operates, and assumes the risk for a business venture (www.dictionary.com). Even though this is the definition of an entrepreneur, there are also many other attributes that are missing. As an entrepreneur you must have a wide variety of traits which can not only help you in creating ideas but improve them as well. Risk taking and leadership are only a few of the many characteristics you should possess. However, the one trait that is a necessity in anything you do is passion. Without it not only will you become bored with your work, but you will have less of a chance of becoming successful. One film that shows this passion and dedication is "Men of Honor" starring Cuba Gooding Jr. and Robert Dinero. Although these men never engaged in any traditional business transactions, these men still do posses many key traits of a successful entrepreneur.…

    • 1505 Words
    • 7 Pages
    Good Essays
  • Best Essays

    Envick, R. and Langford, M. (1998) Behaviour of Entrepreneurs: A Gender Comparison. [Online]. Available at: http://findarticles.com/p/articles/mi_qa5424/is_199803/ai_n21417167/pg_3/?tag=content;col1. (Accessed date: 19 Sept 2010).…

    • 1694 Words
    • 7 Pages
    Best Essays
  • Powerful Essays

    The trait approach focuses on personality attributes, which are consistent patterns in the way people think, act and feel. It is widely agreed that these traits are the building blocks of personality. This psychological research is useful to understand the motivational characteristics that encourage people to become entrepreneurs and also it helps to understand entrepreneur’s behaviour. The trait approach can answer fundamental questions including: “who are most likely to succeed as entrepreneurs”. Whilst Trait is useful, it has been criticised for the lack of consensus among researchers; surrounding a fixed set of clear cut differences in personality traits between entrepreneurs and non-entrepreneurs. For this reason the validity of the trait approach has been questioned; despite criticisms, research into the correlation between entrepreneurs and personality traits are continuously being researched.…

    • 2483 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Brockhaus, R. H. (1980). Risk taking propensity of entrepreneurs. Academy of Management Journal, 23, 509–520.…

    • 21660 Words
    • 87 Pages
    Powerful Essays
  • Satisfactory Essays

    Accretive example of these people is Steve Jobs; from very young he starts to develop the ideas that he has in his head. Also they call these people are creative, passionate, and with faith in themselves, visionary, energetic, hardworking, but mostly fighters of his own dreams.…

    • 796 Words
    • 4 Pages
    Satisfactory Essays