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The personality approach to entrepreneurship

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Elisabeth Maier

on 3 June 2013

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Transcript of The personality approach to entrepreneurship

The personality approach to entrepreneurship by Elisabeth Maier Overview 1) Motivation and research question
2) Personality traits
3) History of the personality approach to entrepreneurship
4) Empirics
5) Conclusion and critical remarks Motivation Research question New venture creation Broad and specific traits
Openness to experience
Conscientiousness
Extroversion
Agreeableness
Neuroticism Empirics: Framework, methods and findings Broad traits
(Zhao, Seibert, Lumpkin, 2010) Conclusion Thank´s for your attention! Characterization of the entrepreneur
as a special "species" has a long tradition
-> Cantillion (risk taker)
-> Schumpeter (creative destructor)
-> Kirzner (explorer and exploiter of
opportunities) Identification of potential entrepreneurs in order to stimulate the overall entrepreneurial activities.
-> More innovative entrepreneurship with a fewer waste of
resources! Why do some individuals engage in entrepreneurship and some do not?

What are the personality traits that foster entrepreneurial behavior?

Which compositions of personality traits foster entrepreneurial behavior? Entrepreneurial
Intention Entrepreneurial
Performance Entrepreneurial
Realization What are personality traits? "Personality traits are defined as
dispositions to exhibit a certain kind of
response across various situations"



Assumed to be endurable and stable over time! Broad traits Specific traits Specific traits
(Rauch, Frese, 2007) History of the personality approach McClelland (1961)
Need for achievement 1960s 1990s
-
Today Gartner (1989)
" 'Who Is an
Entrepreneur?' - Is the Wrong Question" 1980s Rotter (1966)
Locus of control Universal acceptance about
the Big Five personality traits

Introduction of meta-analysis Need for achievement
Innovativeness
Proactive personality
Self-efficacy
Stress tolerance
Need for autonomy
Internal locus of control
Risk Taking Framework of the meta-anaysis Big Five + Risk propensity Performance Intention Framework of the meta-anaysis Specific traits that match to entrepreneurial tasks Performance Creation Temperament, Big Five, motives, attitudes and beliefs Hypotheses Hypotheses 1) Supported
In general, a positive relationship between specified personality traits and entrepreneurial behavior exists.

2) Supported
Specific traits are more suited to predict entrepreneurial behavior (creation and performance). Meta-analysis are a more appropriate approach to analyse the relationship between traits and entrepreneurial behavior
-> Effects are detectable! Personality traits do matter! But it is the composition that is important! Although traits in fact do matter, the environmental influences can not be strictly separated. elisabeth.maier@uni-jena.de (Rauch, Frese, 2007) Critical remarks Relationship about the composition of personality traits and culture background? Fading out of the importance of personality traits as
the business is growing older (organizational structures become more important)? Personality traits are assumed to be endurable and stable over time. Do traits really stay the "same" in the process of new venture creation?
-> environmental change due to entrepreneurship! Many traits were found with ambiguous empirical findings "Death" of the personality approach Criticism
1) Many different definitions used in the studys
2) Heterogeneity of the samples used in the studys
because of the various definitions of what exactly
is an entrepreneur
3) Different empirical methods that can not be
compared Specific

Need for achievement
Innovativeness
Proactive personality
Self-efficacy
Stress tolerance
Need for autonomy
Internal locus of control
Risk Taking Broad

Openness to experience
Conscientiousness
Extroversion
Agreeableness
Neuroticism (Big Five or Five Factor Model)
Full transcript