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					  Part II – The Entrepreneurial
            Perspective
           Chapter 4 – Understanding the
                      Entrepreneurial Perspective
                      in Individuals
           Chapter 5 – Developing Creativity and
                       Understanding Innovation
           Chapter 6 – Ethical and Social
                       Responsibility Challenges for
                       Entrepreneurs
Copyright (c) 2004 by South-Western, a division of Thomson Learning. All rights reserved.
Chapter 4 – Understanding the
            Entrepreneurial
            Perspective in
            Individuals
 The Entrepreneurial
 Perspective
  Although certainly not an exact
science, this perspective provides an
        interesting look at the
   entrepreneurial potential within
           every individual.
 Who Are Entrepreneurs?
   Entrepreneurs, driven by an intense
 commitment and determined perseverance,
work very hard. They are optimists who see
 the cup as half full rather than half empty.
They strive for integrity. They burn with the
         competitive desire to excel.
      Sources of Research on
      Entrepreneurs
1.    Technical and professional journals
2.    Textbooks on entrepreneurship
3.    Books about entrepreneurship
4.    Biographies or autobiographies of entrepreneurs
5.    Compendiums about entrepreneurs
6.    News periodicals
7.    Venture periodicals
8.    Newsletters
9.    Proceedings of conferences
10.   Government publications
Common Characteristics
   Associated with
    Entrepreneurs
     Twenty-First Century Characteristics of
     Entrepreneurs
The Top Ten Characteristics Today’s Entrepreneurs Share:
• Recognize and take advantage of opportunities
• Resourceful
• Creative
• Visionary
• Independent thinker
• Hard worker
• Optimistic
• Innovator
• Risk taker
• Leader
     Common Characteristics Associated with
     Entrepreneurs
• Commitment,                  • Tolerance for Ambiguity
  Determination, and           • Calculated Risk Taking
  Perseverance                 • Integrity and Reliability
• Drive to Achieve             • Tolerance for Failure
• Opportunity Orientation      • High Energy Level
• Initiative and               • Creativity and
  Responsibility                 Innovativeness
• Persistent Problem Solving   • Self-confidence and
• Seeking Feedback               Optimism
• Internal Locus of Control    • Independence
                               • Team Building
 The Dark Side of
 Entrepreneurship
1. Confrontation with Risk
2. Stress
3. Ego
  1. The Entrepreneur’s
     Confrontation with Risk
• Financial Risk
• Career Risk
• Family and Social Risk
• Psychic Risk
2. Stress and the
  Entrepreneur
 What is Entrepreneurial Stress?
To the extent entrepreneurs’ work
 demands and expectations exceed
their abilities to perform as venture
    initiators, they are likely to
          experience stress.
     Sources of Stress
•   Loneliness
•   Immersion in Business
•   People Problems
•   Need to Achieve
    Dealing with Stress
• Networking
• Getting Away from It All
• Communicating with Employees
• Finding Satisfaction Outside the
  Company
• Delegating
3. The Entrepreneurial Ego
   An Overbearing Need for Control

• Sense of Distrust
• Overriding Desire for Success
• Unrealistic Optimism
Entrepreneurial
  Motivation
                     Expectation/                                          Intrinsic/
                      Outcome                                              Extrinsic
                     Comparison                                            Rewards


PC     PE      PG



                        Decision
                       to Behave       Entrepreneurial   Entrepreneurial     Firm
                       Entrepre-          Strategy        Management       Outcomes
                        neurially




    BE     Idea


PC = Personal        Implementation/
     Characteristics    Outcome
PE = Personal          Perception
     Environment
PG = Personal Goals
BE = Business Environment

				
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