The Psychology Of An Entrepreneur's Decisions

1937 words - 8 pages

Psychological Traits of an Entrepreneur

What is an entrepreneur? One who starts a business from nothing? Someone who happens to create the next best thing? Well, both of these things would be considered an entrepreneur. However, there is no set in stone definition of what an entrepreneur actually is. Despite that, these types of people do differ from your everyday person. They possess specific characteristics that help influence how decisions are made, which is an enormous task in the process of starting up a business and eventually keeping it functional (Brouthers et al., 1998). So, what exactly are these traits that make entrepreneurs so much different than others? I, amongst many ...view middle of the document...

I wanted to do everything I could possible to make sure I found success in the future because it was myself who has my future in my hands. The same goes with any entrepreneurs. They too feel like they have the destiny of their venture in their hands, and there are times where it’s good to not to have to rely on others, but there are also times where it can be overwhelming. The feeling of independence can drive an entrepreneur to choosing a venture prematurely, which could lead to utter failure (Hornaday and Aboud 1971).
Entrepreneurs want things to go their way for the most part (Sexton and Bowman 1992). They tend not to be strongly influenced by outside sources. I believe that entrepreneurs feel more success when they do things on their own and not have to rely on others. Like myself in high school, I never found the need to rely on tutors or assistance when it came to schoolwork because I felt if I were able to learn the material on my own, I would have more inner achievement. However, there have been times where I needed the help but felt too much pride to ask for it and that led to not do as well as I expected. I can see scenarios when entrepreneurs want to achieve on their own, however they did not know the proper path ago, but are afraid to ask for help and like myself, fail. Like stated earlier, entrepreneurs feel as if they should have control of his or her destiny. There are two types of people that can be classified when talking about locus of control: internals and externals (Rotter 1966). Internals believe that they have control of everything that goes on, and externals believe that outside forces have control. In my case I believe that I am an internal typed person. If something is the happen, in regards to my life, I want it to be because of the decision I made, not something someone else decided. Also, if something negative happens, I don’t want it to be because of someone else and I would rather take the blame on my own. Internals are described as people who are alert, who discover opportunities and scrutinize their environment to find information (Gilad 1982). And since I know myself better than anyone else, I can easily say that I’m always looking for new things to do and I’m always observing my environment to see what the best opportunity I have around is for me.
In my opinion, one of the biggest psychological traits that entrepreneurs have is the ability to focus and pursue a goal. I believe if an entrepreneur cannot pursue a goal, then he should not consider himself an entrepreneur because without focus or goals, failure is the only path I can see in one’s upcoming venture. According to a study that I read in Entrepreneurial Strategic Decision-Making, it was found that entrepreneurs possess different cognitive and executive abilities from non-entrepreneurs. Also, ADHD is highly overrepresented among the entrepreneurs who were studied upon. These results can explain an entrepreneur’s innovative and creative abilities...

Other assignments on The Psychology Of An Entrepreneur's Decisions

An Episode From The Life Of Publius Cornelius Scipio

1064 words - 5 pages Elliot Shimonov An Episode from the Life of Publius Cornelius Scipio Giovani Bellini is a widely known painter of Venetian descent whose work is fundamental in the understanding of the Venetian High Renaissance. His works were inspired by social and political elements which was atypical of the Renaissance culture. However, the Venetian Renaissance came later than the Florentine or Roman Renaissance and by the time of its assumption, studies of

An Analysis Of The Characters Of Hamlet, Laertes And Fortinbras From William Shakespeare’S Hamlet

1467 words - 6 pages Angela Romero 1226344 English IX Tim Keppel An analysis of the characters of Hamlet, Laertes and Fortinbras from William Shakespeare’s Hamlet In William Shakespeare’s Hamlet, revenge is the central topic, which breathes life into the play. As his main objective in life, Hamlet craves to avenge his father’s death, the king of Denmark, betrayed and killed by his own brother. Throughout the play, Hamlet comes across two other main

An Analysis Of The Choice Between Separated And Mixed Operation Model For Icbc( London)

9211 words - 37 pages An analysis of the choice between separated and mixed operation model for ICBC( London) Abstract: Since the fifth wave of Merge and Acquisition in the 1990s, the global banking industries have developed towards the direction of large-scale, international and omnipotent banks. The mixed operation of the commercial banks had already been the leading trend in the 21st century. With China’s entrance into WTO at the end of last century, the

The Significance Of An East, West And Home Front During World War I

1040 words - 5 pages line remained essentially unchanged for most of the war. Between 1915 and 1917 a series of major offensives took place along this front. However, a combination of entrenchments, machine gun nests, barbed wire, and other defenses repeatedly inflicted severe casualties on the attackers. As a result, no significant advances were made during these assaults. In an effort to break the deadlock, this front introduced new military technologies

Cite An Example From Recent Events That Highlights The Flattening Of The World As Described By Friedman

413 words - 2 pages are now presented with a menu of investment opportunities that span the globe. These investments, which include the purchasing of materials from overseas vendors or stocks from foreign corporations to outsourcing labor, demonstrate the positive and negative effects involved in an increased globalized market place. The practice of outsourcing on the part of firms is a “text-book” example of how the limitations of access to resources and labor

Is Islam A Religion Of Violence Or Non-Violence? An Examination Of Misconceptions In The Western World?

797 words - 4 pages Is Islam a religion of violence or non-violence? An examination of misconceptions in the Western World? The world is full of acts of violence and acts of peace and non violence. We as people try to comprehend these acts by establishing whys. The why that we will examine is one of consistent misunderstanding and misrepresentation specifically in the Western world. When a

Discovering The Effectiveness Of Papaya Leaves Extract As An Alternative Tea Responsible For Increasing The Blood Platelets

4700 words - 19 pages and dengue fever.   With the rising number of people catching dengue fever, the demand for papaya leaf juice has soared. The extract of raw papaya leaf helps boost platelets, also known as thrombocytes. Thus, they can formulate an alternative tea out of a simple leaf. Purpose of the Study The purpose of this study is to inform people that even they suffer from dengue fever, they don’t have to spend for their treatment and this study also

Put Yourself In The Position Of An Entrepreneur Who Is Developing A New Self-Propelled, Robotic Lawn Mower, Similar To The Roomba Robotic Vacuum Cleaner, To Introduce Into The Market. Develop The...

513 words - 3 pages provide better colored picture effect but rare people prefer to buy magazine instead of newspaper. This is also an expensive media source because it cost expenses for printing and delivering. Magazines are popular in doctors’ clinics and some business buildings. 3) Radio: radio is low on cost and no visual advertising. This is verbal medium of advertising. It is also short term advertising source. It can deliver the message to the large group of

Posithis Article Will Look At Organ Transplant And The Role It Has And Is Playing Out In Our Society: Will Also Look At The Cost Of This Procedures And Who Is Most Likely To Receive An Organ. We Will...

314 words - 2 pages This article will look at organ transplant and the role it has and is playing out in our society: will also look at the cost of this procedures and who is most likely to receive an organ. We will also look at how this procedure is done and if it is done in accordance with medial guidelines as well as how many are done on a monthly basis and who qualifies for that organ. Organ donation has become very important for people who have organ problems

Psychology

961 words - 4 pages development. Topics studied in this field include everything from prenatal development to Alzheimer's disease. * Educational Psychology: Educational psychology involves the study of how people learn, including topics such as student outcomes, the instructional process, individual differences in learning, gifted learners and learning disabilities. * Experimental Psychology: Experimental psychology is an area of psychology that utilizes

History Of Psychology

924 words - 4 pages History of Psychology University of Phoenix Psy 310 Interest in psychology is as old as the society, because man has always wanted to know people who surround him, to discover what do they think, how do they feel, and their intentions. In spite of that, psychology as an independent science is relatively young – it is old approximately 100 years. When discussing the origin and roots of psychology, it might be noted

Similar Documents

The Four Goals Of Psychology Essay

512 words - 3 pages The Four Goals of Psychology The Four Goals of Psychology Ariel Mendoza Grand Canyon University: General Psychology January 18th, 2012 Psychology is the study of human behavior and mental processes, not only what we do but why. Our thoughts, memories, emotions, perceptions, all fall under this category. It is the study of what makes us, us. There are ultimately four goals in psychology. Describe, explain, predict, and

The Story Of An Hour Essay

333 words - 2 pages “The Story of an Hour” According to the story entitled “The Story of an Hour”, Louise Mallard is a woman with a heart disease that has many different emotions after she hears about the death of her husband. Her husband’s friend, Richard, lets her know that he died in a railroad disaster which he had knowledge of through a telegram. Richard breaks the news to her gracefully although it still sends her to her room where she can be alone. In

The Life Of An Airman Essay

989 words - 4 pages Cullen Bryant III K Gladfelter ENGL 1020 September 2012 The Life of a Student Airman As the Airman’s Creed begins, “I am an American Airman. I am a Warrior. I have answered my nation’s call.” Many students on campuses across this great nation have answered this nation’s call. Coming onto a year and a half now, I still remember the day that I signed my contract with the United States Air Force and what was running through my mind. As far as

An Exploration Of The Investigations Used T Diagnose Stroke

1826 words - 8 pages An Exploration of the investigations used to diagnose stroke Methods Used to Diagnose a stroke There are many different tests that can be carried out to help diagnose a stroke. The main way in which they are found is by using brain imaging so that they are able to pick up any visual issues. Brain imaging allows the doctors to understand whether the stroke was ischemic or hemorrhagic. It also allows them to determine how severe it was. Those who