U4 - Entrepreneur As Person Flashcards
Characteristics of Entrepreneur Values x5
Security
Live lives too securely = not happy or successful than entrepreneurs
People who highly value security usually work for big companies (banks etc) -> give them security benefits - steady income, medical insurance & pension
Limited financial opportunities.
Status
Can get status from community we serve (doctors etc) by being recognised for work they do.
Can get status by being power & influential (CEO, Famous actor).
Can get status by way you look & things you buy (Clothes, expensive car) - seen as important.
Successful entrepreneurs often known by status.
Money
Different people value money to different degrees depending on circumstances & priorities in life.
Eg. Child doesn’t value money -> relies on parents. Student values money more -> needs it to pay for studies.
Money we make determined by how much employers value our services.
Poor people give more value to small money than rich people -> survival.
Rich people see it as petty cash.
Some people prefer to save & invest than to spend.
Independence
Impossible for some to work under someone - rules & regulations.
Prefer to be leader of own business
Would be extremely motivated & dedicated to work to ensure everything runs well.
Sociability
Like interacting socially.
Find social situations easy & fun.
Well suited for social jobs (journalism, teaching, social work & nursing).
Intrinsic Motivation x4
- Actions executed because Inner drive -> own goals, curiosity & interests.
- Wants to participate in something because find it interesting, informative & helps with self-actualising.
- Don’t need external encouragement or pressure.
- Eg. More satisfaction from studying than from passing exams.
Extrinsic Motivation x3
- Participates in an activity for external reasons such as being given orders to, being rewarded or to impress or satisfy someone.
- Has no enthusiasm & has to constantly be driven to carry out activities.
- Has no initiative or creativity.
Connection between intrinsic & extrinsic motivation x6
- Extrinsic & Intrinsic motivation both important for motivational development in adolescence.
- Too much extrinsic motivation can prevent students opportunity of taking responsibility for own actions & they prefer to follow than lead.
- In job world motivated by salary & fringe benefits than by job satisfaction starting own business and self-actualisation.
- Intrinsic motivation mainly comes from an inner drive to improve self or satisfy self.
- Entrepreneurship Education - intrinsic motivation must be ultimate goal.
- Can use extrinsic motivation to start motivational development & make students aware of instinctsI motivation.
Characteristics of Entrepreneur Values x5
Security
Live lives too securely = not happy or successful than entrepreneurs
People who highly value security usually work for big companies (banks etc) -> give them security benefits - steady income, medical insurance & pension
Limited financial opportunities.
Status
Can get status from community we serve (doctors etc) by being recognised for work they do.
Can get status by being power & influential (CEO, Famous actor).
Can get status by way you look & things you buy (Clothes, expensive car) - seen as important.
Successful entrepreneurs often known by status.
Money
Different people value money to different degrees depending on circumstances & priorities in life.
Eg. Child doesn’t value money -> relies on parents. Student values money more -> needs it to pay for studies.
Money we make determined by how much employers value our services.
Poor people give more value to small money than rich people -> survival.
Rich people see it as petty cash.
Some people prefer to save & invest than to spend.
Independence
Impossible for some to work under someone - rules & regulations.
Prefer to be leader of own business
Would be extremely motivated & dedicated to work to ensure everything runs well.
Sociability
Like interacting socially.
Find social situations easy & fun.
Well suited for social jobs (journalism, teaching, social work & nursing).
Intrinsic Motivation x4
- Actions executed because Inner drive -> own goals, curiosity & interests.
- Wants to participate in something because find it interesting, informative & helps with self-actualising.
- Don’t need external encouragement or pressure.
- Eg. More satisfaction from studying than from passing exams.
Extrinsic Motivation x3
- Participates in an activity for external reasons such as being given orders to, being rewarded or to impress or satisfy someone.
- Has no enthusiasm & has to constantly be driven to carry out activities.
- Has no initiative or creativity.
Connection between intrinsic & extrinsic motivation x6
- Extrinsic & Intrinsic motivation both important for motivational development in adolescence.
- Too much extrinsic motivation can prevent students opportunity of taking responsibility for own actions & they prefer to follow than lead.
- In job world motivated by salary & fringe benefits than by job satisfaction starting own business and self-actualisation.
- Intrinsic motivation mainly comes from an inner drive to improve self or satisfy self.
- Entrepreneurship Education - intrinsic motivation must be ultimate goal.
- Can use extrinsic motivation to start motivational development & make students aware of instinctsI motivation.
2 motivational theories
- Maslow’s Self Actualisation Theory
2. Performance Motivation Theory
Maslow’s self-actucalisation theory
- Theory gives a general perspective on learning
- Has a humanistic premise and is based on the
- perception that people differ from animals
- He divided human needs into 5 categories
- Physiological needs – the basic needs
- Psychological needs – the higher order needs
Physiological needs
- Satisfying the need is a prerequistite to a person’s further development
- Will to satisfy these needs is seen as motivated behaviour at the lowest level
- If a learner needs food and clothing he will not be motivated to learn
Psychological Needs
- The need for protection and safety – basic need
- The social need – need for love and acceptance
- The need for appreciation or esteem – gain recognition, independence and experience
- The need for self-actualisation – reach the ultimate goal
Performance motivation
- Defined as a process of competing with a standard of excellence
- Performance motivation results in 2 tendencies
1) need for exeprction to achieve success
2) need to avoid failure - These needs refer to the higher order of Maslow’s theory
- Can be seen as the most important theory of entrepreneurs
- They are usually self-motivated and should receive more attention
How will a primary school teacher use extrinsic motivation IN CLASSROOM:
-Primary school learning motivation = Extrinsic
– They act because something or someone other than themselves has prompted them or will reward them
-Do it merely to impress or satisfy others
-Shows no enthusiasm and exhibits no initiative or creativity
-Educator should strive to balance extrinsic/intrinsic motivation
-Teacher should have realistic expectations of what learners can achieve
-Always praise success and achievement
-Show genuine interest in the learner and everything he/she does
-Support and encourage adolescents who are unsuccessful
-Avoid negative situations
-utilise learners interaction, to help them create sense of worthy, adequate & successful
(compliment them, smile warmly)
-give attention to learners social needs
satisfy learners need for appreciation & esteem (display recognition & appreciation for what they are & achieve)
-ample opportunity for pupil to experience success & develop sense of personal & worthwhile achievements (teacher must set achievement expectations at a realistic level)
Stimulating Creativity x8
- Create situations that promote openness -> use learner’s interest to initiate.
- Allow & encourage many questions -> treat with curiosity
- Help produce things and make use of them
- Focus on self-initial exploration, observation & questioning
- Create atmosphere with good aesthetics
- Help learn from mistakes
- Use sensory activities to improve creativity.
- Use Brainstorming to stimulate creative thinking
Self-knowledge & Entrepreneurship x6
- Self knowledge = Understanding of own personality
- Know what are capable & not capable of
- Should be obtained from young age
- Primary School learners should see themselves realistically
- Self Knowledge important for Entrepreneurship -> know what kind of business to start
- Eg. Shy entrepreneur = no success in business that depends on marketing personality & product
Characteristics of Entrepreneur
Qualities & Personalities x7
- Want independence
- Flexibility
- Creativity
- Leadership
- Highly motivated
- Positive
- Lots of patience
