SLIDE 1
“Entrepreneurship”
Introduction to New Venture Creation
AUC CSCE 491
- Dr. Nagwa Ibrahim
Week (1) March 8, 2009
Entrepreneurial Characteristics
- Dr. Nagwa Ibrahim
Entrepreneurship Introduction to New Venture Creation AUC CSCE 491 - - PowerPoint PPT Presentation
Entrepreneurship Introduction to New Venture Creation AUC CSCE 491 - - PowerPoint PPT Presentation
Entrepreneurship Introduction to New Venture Creation AUC CSCE 491 Dr. Nagwa Ibrahim Week (1) March 8, 2009 Entrepreneurial Characteristics Dr. Nagwa Ibrahim The Entrepreneurial Personality(1) No standard definition of the
SLIDE 2
SLIDE 3
The Entrepreneurial Personality(1)
No standard definition of “the entrepreneur”
but:
it is generally held that they display
- certain similar characteristics
- similar patterns of behaviour.
no agreement on what these are
- Hornaday - 40 +
- Gibb - 12
- Timmons - 19
- Dr. Nagwa Ibrahim
SLIDE 4
The Entrepreneurial Personality(2)
According to Timmons, these attributes
– vary according to the situation – can be learned/acquired
But are the attributes
– culturally determined? – possessed or acquired?
- Dr. Nagwa Ibrahim
SLIDE 5
Timmons 19 definitions of “the entrepreneur”
- Dr. Nagwa Ibrahim
1. Commitment 2. Drive to achieve and grow 3. Orientation to goals 4. Taking initiative and personal responsibility 5. Persistence in problem-solving 6. Sense of humor 7. Seeking and using feedback 8. Internal locus of control 9. Tolerance of ambiguity
- 10. Calculated risk-taking
- 11. Low need for status and power
- 12. Integrity and reliability
- 13. Decisiveness, urgency and patience
- 14. Dealing with failure
- 15. Team builder
- 16. High energy, health and emotional stability
- 17. Creativity and innovativeness
- 18. High intelligence and conceptual ability
- 19. Vision and capacity to inspire
SLIDE 6
The Individual Characteristics of Entrepreneurs
The types of entrepreneur result from how the various personality traits combine. The key personality traits are:-
Risk-taking ability Need for achievement Desire for Autonomy (self sufficient) Creativity and Opportunism intuition
- Dr. Nagwa Ibrahim
SLIDE 7
Risk-Taking Ability
- Economic theory suggests entrepreneurs are
risk-takers
- Generally agreed that entrepreneurs
– take calculated risks – are confident, therefore distort their perception of risk – can cope with ambiguity/uncertainty
- Dr. Nagwa Ibrahim
SLIDE 8
Need for Achievement (nAch)
- McClelland suggests that entrepreneurs are
motivated by the need for achievement
- Research findings inconclusive
- Generally held that nAch is not the only
explanation for entrepreneurial motivation
- However, research has tended to measure
people by job-title rather than behaviour
- Dr. Nagwa Ibrahim
SLIDE 9
Desire for Autonomy
Entrepreneurs:
want to be in control value individualism & freedom dislike rules, procedures, norms have difficulty functioning in constraining environments.
The desire to “take ownership” of own destiny important but difficult to explain.
- Dr. Nagwa Ibrahim
SLIDE 10
Creativity & Opportunism
Entrepreneurs believed to be:
creative
- pportunistic
Very complex
relationship between the two unclear research inconclusive & conflicting
Generally held that innovativeness is linked to nAch
- Dr. Nagwa Ibrahim
SLIDE 11
Intuition
Cartland suggests entrepreneurs are: intuitive rather than rational thinkers.
prefer synthesis to analysis & imaginative thinking to logical reasoning
- Dr. Nagwa Ibrahim