Chapter 4: Entrepreneurial Personality Flashcards
Two complementary factors that determine entrepreneurial success:
- Environment
- Personality of entrepreneur
Entrepreneurship will survive in environments that are:
- Friendly or akin to it
- Economic environments of free enterprise
Economic environments may be classified as:
- Fully supportive of entrepreneurship
- Moderately supportive
- Not supportive
It refers to the pattern of characteristics that distinguishes one person from another.
Traits, values, motives, genetic blueprints, attitudes, etc.
Personality
6 Personality Types:
RIASEC
- Realistic
- Investigative
- Artistic
- Social
- Enterprising
- Conventional
Characteristic of Entrepreneurs
The entrepreneur is self-motivated enough to pursue their course without relenting in adversity
Drive
The entrepreneur’s job involves solving problems and making decisions. Through these, he finds solutions.
Thinking Ability
In Human Relations Activity, three type of people will determine success:
- The customer
- The employee
- The third party
The ability to understand and be understood makes it easier for entrepreneur to transact business.
Ability to Communicate
Operating an entrepreneurship requires performance of major and minor tasks. Entrepreneur must have this to perform tasks.
Technical Knowledge
Entrepreneurs are _____ because they assume risks only after they are convinced they have the skills and resources to overcome difficulties.
Reasonable Risk Taker
A person’s belief in their ability leads them to succeed in their performance
Self-confident
These are very useful motivational tools, especially in accomplishing objectives
Goals
The success of an enterprise depends on the willingness of subordinates to comply with entrepreneurial wishes. Compliance is expected if entrepreneur is _____ to take responsibility for whatever happens
Accountable
The public will patronize a business over other general competition if entrepreneur is able to provide something new
Innovate
