personality of entrepreneurs

8/7/2019 Personality of Entrepreneurs

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Personality of EntrepreneursPersonality of Entrepreneurs

The Psychological View:The Psychological View:SchumpetersSchumpeters Entrepreneur possesses followingEntrepreneur possesses followingcharacteristics.characteristics.

An institutional capacity to see things in a way whichAn institutional capacity to see things in a way which

afterwards proves to be true.afterwards proves to be true.

A kind of effort of will and mind to overcome fixed habitA kind of effort of will and mind to overcome fixed habitof thinking.of thinking.

The capacity to overcome social opposition against doingThe capacity to overcome social opposition against doingsomething new.something new.


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David C McClellandDavid C McClelland emphasizes the achievementemphasizes the achievementmotives.motives.

Achievement oriented behaviour may be possible toAchievement oriented behaviour may be possible to

stimulate through training programmes.stimulate through training programmes.

HagenHagen considers the withdrawal of status respect as aconsiders the withdrawal of status respect as atrigger mechanism for changes in personality formation.trigger mechanism for changes in personality formation.

The following can produce status withdrawal..The following can produce status withdrawal..

1. Displacement of a traditional elite groups from its1. Displacement of a traditional elite groups from itsprevious status by another traditional group by physicalprevious status by another traditional group by physicalforce.force.

2. Changes in the attitude of the superior group.2. Changes in the attitude of the superior group.

3. Distribution of economic power.3. Distribution of economic power.

4. Non acceptance of expected status on migration to a4. Non acceptance of expected status on migration to a

new society.new society.


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The Sociologists View:The Sociologists View:For Max WeberMax Weber the driving entrepreneurial energies aregenerated by some religious beliefs. i.e occupational

pursuits, accumulation of assets etc.He further suggested that the belief systems of Hinduism,Buddhism and Islam do not encourage entrepreneurship.

Cochran emphasizes cultural values, role expectations and

social sanctions.According to him Entrepreneur represents societys modelpersonality.

Stockes, consider cultural and social values which

produces industrial entrepreneurs.


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The Economists View:The Economists View:

According to G F Papanek & J R Harris

1. Desire to improve real income.

2. Economic incentives

Are regarded as sufficient for emergence of

entrepreneurs.


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The Managerial Point of View:The Managerial Point of View:

Emphasis is on perception of market opportunities as well asEmphasis is on perception of market opportunities as well asoperational skill to run the enterprise.operational skill to run the enterprise.

Entrepreneur have to perform following kind of activities forEntrepreneur have to perform following kind of activities forsuccessful operation of enterprise.successful operation of enterprise.

Perception of market opportunitiesPerception of market opportunities

Gaining command over scare resourcesGaining command over scare resources Purchasing inputsPurchasing inputs

Marketing of product and responding to competition.Marketing of product and responding to competition.

Dealing with public bureaucracy (Concessions, Licences, taxes etc.Dealing with public bureaucracy (Concessions, Licences, taxes etc.

Management of Human relationship within the firm.Management of Human relationship within the firm.

Management of customer and supplier relationship.Management of customer and supplier relationship. Financial ManagementFinancial Management

Production ManagementProduction Management

Industrial EngineeringIndustrial Engineering

Upgrade process and product quality.Upgrade process and product quality.

Introduction to new productsIntroduction to new products


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AN INTRAPRENEURAN INTRAPRENEUR Intrapreneurship is entrepreneurship within an existingIntrapreneurship is entrepreneurship within an existing

business.business. Intrapreneurship gives managers of corporation theIntrapreneurship gives managers of corporation the

freedom to take initiative and try new ideas.freedom to take initiative and try new ideas.

An Intrapreneur Profile: V

ision: Ability to visualize the steps from idea toactualization. Motivation: They are self motivated but respond to

corporate rewards and recognition. Bias to act:Bias to act: Intrapreneurs by nature are actionIntrapreneurs by nature are action--oriented.oriented.

Skills:Skills: Intrapreneurs have generally marketing andIntrapreneurs have generally marketing andtechnology background. Once they take responsibility oftechnology background. Once they take responsibility ofintrapreneur, they belong to neither. They takeintrapreneur, they belong to neither. They takeresponsibility all aspects of business.responsibility all aspects of business.

Locus to control:Locus to control: They possess a doer personality.They possess a doer personality. Locus to risk:Locus to risk: Intrapreneur are moderate risk takers.Intrapreneur are moderate risk takers.


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Locus to status:Locus to status: Unlike managers, whose job is largely toUnlike managers, whose job is largely todelegate, Intrapreneur often do the things faster bydelegate, Intrapreneur often do the things faster bythemselves.themselves.

Failure and mistakes:Failure and mistakes: They attempt to hide risky projectsThey attempt to hide risky projects

or ideas, ensure to learn from mistakes.or ideas, ensure to learn from mistakes.

Goal Setting:Goal Setting: They are self determined goal setters whoThey are self determined goal setters whooften take the initiative to do things no one asked them tooften take the initiative to do things no one asked them todo.do.

Innovation:Innovation: Intrapreneur become dedicated to an idea.Intrapreneur become dedicated to an idea.Commitment is the primary force behind successfulCommitment is the primary force behind successfulinnovation.innovation.

personality of entrepreneurs

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