COMM 320 Chapter 2: Entrepreneurship Chapter 2.docx
Document Summary
An individual who sees and opportunity that others do no and marshals the resources to exploit it. Assumes that entrepreneurs possess certain personality traits that drive them to the choice of an entrepreneurship career. Characteristics/traits associated with entrepreneurs: high need for achievement, risk taking propensity, tolerance for ambiguity, innovation, intuition, high need for independence and autonomy, internal locus of control, low need for conformity. The choice of entrepreneurship is related to external factors beyond the individual"s control. Role of the culture: some cultural groups see entrepreneurship as more desirable career that others, each culture has a different perspective. Marginal/displacement approach: marginal individuals (i. e. outside mainstream society) are more likely to become entrepreneurs, individual"s perceptions that they are not part of the mainstream group can lead to entrepreneurial careers. Family background: first born: the first child receives special care and more attention, which contributes to the development of traits such as self-confidence, independence and locus of control, the role model:
