1. 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.

2. Chapter 4 – Understanding the Entrepreneurial Perspective in Individuals

3. The Entrepreneurial Perspective
Although certainly not an exact science, this perspective provides an interesting look at the entrepreneurial potential within every individual.

4. 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.

5. Sources of Research on Entrepreneurs
Technical and professional journals
Textbooks on entrepreneurship
Books about entrepreneurship
Biographies or autobiographies of entrepreneurs
Compendiums about entrepreneurs
News periodicals
Venture periodicals
Newsletters
Proceedings of conferences
Government publications

6. Common Characteristics Associated with Entrepreneurs

7. 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

8. Common Characteristics Associated with Entrepreneurs
Commitment, Determination, and Perseverance
Drive to Achieve
Opportunity Orientation
Initiative and Responsibility
Persistent Problem Solving
Seeking Feedback
Internal Locus of Control
Tolerance for Ambiguity
Calculated Risk Taking
Integrity and Reliability
Tolerance for Failure
High Energy Level
Creativity and Innovativeness
Self-confidence and Optimism
Independence
Team Building

9. The Dark Side of Entrepreneurship
Confrontation with Risk
Stress
Ego

10. 1. The Entrepreneur’s Confrontation with Risk
Financial Risk
Career Risk
Family and Social Risk
Psychic Risk

11. 2. Stress and the Entrepreneur

12. 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.

13. Sources of Stress Loneliness Immersion in Business People Problems
Need to Achieve

14. Dealing with Stress Networking Getting Away from It All
Communicating with Employees
Finding Satisfaction Outside the Company
Delegating

15. 3. The Entrepreneurial Ego

16. An Overbearing Need for Control
Sense of Distrust
Overriding Desire for Success
Unrealistic Optimism

17. Entrepreneurial Motivation

18. PC PE PG BE Idea Expectation/ Outcome Comparison
Intrinsic/ Extrinsic Rewards PC PE PG
Decision to Behave Entrepre- neurially
Entrepreneurial Strategy
Entrepreneurial Management
Firm Outcomes BE
Idea
Implementation/ Outcome Perception
PC = Personal Characteristics
PE = Personal Environment
PG = Personal Goals
BE = Business Environment