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Chapter 1 Entrepreneurial Traits

Chapter 1 Entrepreneurial Traits. Conceptual Approaches to Understanding Entrepreneurs. ‘Great Person’ approach Motivations Socio-cultural-demographic profiles Entrepreneurial ‘types’ The ‘trait’ approach Cognitive or learning. Five Factors of Personality.

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Chapter 1 Entrepreneurial Traits

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  1. Chapter 1 Entrepreneurial Traits

  2. Conceptual Approaches to Understanding Entrepreneurs • ‘Great Person’ approach • Motivations • Socio-cultural-demographic profiles • Entrepreneurial ‘types’ • The ‘trait’ approach • Cognitive or learning

  3. Five Factors of Personality • Neuroticism or emotional stability • Extraversion • Conscientiousness • Openness to experience • Agreeableness

  4. Critiquing Entrepreneurial Personality Traits • Understand personality holistically • Socio-demographic variables cannot be isolated from personality characteristics • Methodologies used to identify traits • Conflicting results in terms of the relative importance of specific traits. • Assumption that entrepreneurial behaviour is a function of personality • Ascribing personality characteristics: classical entrepreneurs vs. those with entrepreneurial characteristics or ‘lifestyle entrepreneurs’

  5. The Big Five Personality Domains - Extraversion • Confidence • Dynamism • Optimism • Sense of power • Aggressiveness • Capacity for enjoyment

  6. The Big Five Personality – Open to Experience • Resourcefulness • Versatility • Creativity • Intelligence • Independence • Imagination • Perceptiveness

  7. The Big Five Personality Domains– Neuroticism • Rebelliousness • Courage

  8. The Big Five Personality Domains – Agreeableness • Honesty • Integrity • Sensitivity to others • Trusting of colleagues • Co-operativeness

  9. The Big Five Personality Domains – Conscientiousness • Perseverance • Determination • Need to achieve • Efficiency • Commitment • Thoroughness • Accuracy • Responsibility

  10. Key themes in entrepreneurial traits • Need for achievement • Need for autonomy • Self-belief • Risk-taking • Locus of control

  11. Gender – Male- and Entrepreneurial Traits • Opinionated and persuasive • Goal-oriented • Innovative and idealistic • High level of self-confidence • Enthusiastic and energetic • Must be own boss

  12. Gender – Female- and Entrepreneurial Traits • Flexible and tolerant • Goal-oriented • Creative and idealistic • Medium level of self-confidence • Enthusiastic and energetic • Ability to deal with the social and economic environment

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