Posted at 11.21.2018
Psychologists have contributed to the field of entrepreneurship in many ways. For long they may have directed their efforts to distinguish entrepreneurs from non-entrepreneurs as well successful business owners from the unsuccessful ones though a couple of common characteristics and distinctive features that business owner possess.
The notion that enterprisers have distinctive personality characteristics has a long traditions in entrepreneurship studies. In mindset entrepreneurship can be discussed under two main techniques:
Trait Way: Traits are the broader dispositions of personality aimed to specific response. Categorization of people on the basis of their behavior can be carried out, such as outgoing', friendly', etc. (http://www. revision-notes. co. uk/revision/71. html) this approach brings about compartmentalization of people into business owners and non-entrepreneurs. Trait approach is also called supply side justification of entrepreneurship and includes subconscious, sociological and anthropological variations.
Traditional Trait Strategy was propounded by Mistchel (1968, 1973) who considered basic qualities like being sociable, troubled etc to be entrepreneurial. It assumes that action of folks remains constant in various situations. This theory was criticized and substitute theory was forwarded known as interactionism', state governments that people's behavior is shaped according to personality, differing conditions and their discussion with the situation. It allowed for the change in attitudes and personality characteristics regarding to different communal contexts. It is also criticized that it generally does not account for what sizes of situation, identification and way of measuring of relationship effects and interaction again gives the personality sizing without explaining the behavioral consistency.
Hampson (1982) forwarded the theory of building of personality, that offers three perspectives on personality;
All the three are important in analyzing the personality and taking some of them in isolation is inappropriate.
(http://books. google. co. uk/books?hl=en&lr=&id=qu8NAAAAQAAJ&oi=fnd&pg=PR9&dq=wilken+1979+and+trait+approach&ots=fV--CYhKJy&sig=4_3KH2e4C2EdJG9-G5K7bmNxMwY#PPT1, M1)
Contributions can be split into single characteristic' and multi characteristic'
Single trait methodology includes famous principles detailing entrepreneurship like need for achievements', risk taking propensity', and locus of control'.
Contribution of McClelland (1961) is commendable in the field that made an attempt to clarify entrepreneurship, and so economical development, by the necessity for achievement theory. McClelland opined that folks in a world can be grouped into high achievers and low achievers predicated on their scores of Thematic Appreciation Test (TAT). Many reports on the problem found that entrepreneurs, managers, and internet marketers are high scorers. They'll accept risk and then the amount they consider their personal efforts will make a difference in the final outcome.
Concept of Locus of control' was launched in Rotter's (1966) cultural learning theory, that was used to as a defining attribute of entrepreneurs. People with high internal locus of control believe they control their destiny. Incidents are contingent on their own action and their own relatively everlasting characteristics. They think that they make things happen. People with an external locus of control have a tendency to believe that they may be handled by others or chance incidents. Whatever happens to them is the consequence of luck, chance, fate or powerful others. One might infer that entrepreneurs and business people have high inner locus of control, but different studies showed inconclusive contradictory studies. Brockhaus analyzed the locus of control notion of enterprisers (1975), and their risk tendency (1980).
Marcin and Cockrum (1984), study psychological characteristics of business people across different countries. Hochner and Ganrose (1985) examine the characteristics of enterprisers, compared to their non-entrepreneurial fellow co-workers; and a similar psychological study is performed on female entrepreneurs by Rowen and Hisrich (1986). Cooper and Dunkelberg (1986) compare the path to entrepreneurship (inheritance, purchase, start-up) with background behaviour characteristic of a sizable sample of internet marketers. The popular press has also written extensively about the 'special psychological characteristics of the businessman, ' generally comprehended as somebody who starts- somewhat successfully-his or her own business.
Other studies have subsequentley found other mental health key characteristics of (successful) business people, eg. internal locus of control, low aversion to risk taking, aggressiveness, ambition, overoptimism, desire for autonomy, marginality, personal ideals, and dependence on ability (Brockhaus, 1982; Gartner, 1989; Aldrich and Zimmer, 1986; Carson et al. 1995; Delmar 1996). Entrepreneurship as organizing, A literature study of entrepreneurship
There is not any standard group of traits which are there in business owner only differentiating them from non-entrepreneurs.