report about The female entrepreneur: Zaha Hadid. all requirements attached and information included. please stick to the powerpoint content in using the requirements.Entrepreneurship: A Mindset
• Entrepreneurship is more than the mere creation of business:
– Seeking opportunities
– Taking risks beyond security
– Having the resilience to push an idea through to reality
• Entrepreneurship is an integrated concept that permeates an
individual’s business in an innovative manner.
What is an Entrepreneurial MindSet ???
Calculated risk taker
Innovative
Competitive
Self-confident
Creative
Vision
Demanding
Problem solving skills
Strong drive to achieve
Goal-oriented behaviour
Tolerance for failure
Tolerance for ambiguity
Persistence
Highly reliable
Common Characteristics of 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
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Calculated risk taking
Tolerance for failure
High energy level
Creativity and Innovativeness
Vision
Self-confidence and optimism
Independence
Team building
The Entrepreneurial Personality
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A personality type
The ‘hero’ myth
The social misfit
Possessor of personality traits
Social development models
The Heroic Myth Persists
‘The heroic myth begins with the hero’s humble birth, his rapid rise to
prominence and power, his conquest of the forces of evil, his vulnerability to
the sin of pride and finally his fall through betrayal or heroic sacrifice’.
Perhaps the myth explains why so many entrepreneurs live under a great
amount of tension. They feel they are living on the edge, that their success
will not last (their need for control and their sense of distrust are
symptomatic of this anxiety) but they have also an overriding concern to be
heard and recognized — to be seen as heroes.’
Kets de Vries
Personality Theories of
Entrepreneurship
• Personality (traits) explains individual’s actions
• Common traits = achievement, motivation, risk-taking propensity, desire
for control.
• Psychodynamic approaches
– Instinctive drives – ego – superego tensions
– Behaviour from force within – unconscious mind – early childhood
crucial
– Dislikes authority, suppressed aggression (from unhappy family
backgrounds)
• Social psychological approaches
– Behaviour constrained by contextual factors, social realities
The Emergence of the Trait Approach
‘Statements by government officials, business leaders, and
professors of entrepreneurship reflect the opinion that
entrepreneurial activity will help the nation to re-energise its
economic development and regain its competitive edge in world
markets’ (Sexton, 1988; p5)
The Trait Approach
• A ‘personality characteristic’ is an enduring feature of a person,
an underlying trait that produces behavioural consistency
regardless of situation (Shaver, 1995)
• There is an underlying assumption that within the
‘entrepreneur’ there resides an inherent, permanent and
relatively stable set of personality characteristics
• ‘once an entrepreneur, always an entrepreneur’ (Gartner, 1988;
p12)
Why focus on defining Entrepreneurial
Traits?
• To distinguish entrepreneurs from the rest of society,
particularly successful from unsuccessful ones
• To ‘pick winners’ – immense practical value in being able to
identify entrepreneurs
• To develop an entrepreneurial profile that provides an
effective selection instrument for those parties with a
financial interest in entrepreneurship
• To enable the identification and encouragement of a long
term supply of a successful entrepreneurial class
The Trait/Psychological Approach
• Need for achievement
• Need for power
• McClelland, 1961
• McClelland, 1961; Watkins, 1976
• Need for affiliation
• McClelland, 1961; Wainer and
Rubin, 1969
• Risk-taking propensity
• Drucker, 1985; Osborne, 1995;
Kets de Vries, 1996
• Locus of control
• Rotter, 1966
The Trait Approach
• Commitment/ determination
• McClelland and Winter, 1969
• Leadership
• Initiative/ drive/enthusiasm
• Litzinger, 1965; Moss Kanter,
1983
• McClelland and Winter, 1969,
• Tolerance of ambiguity &
uncertainty
• Hornaday and Bunker, 1970;
Sexton and Bowman-Upton
• Realistic
• Schrage, 1965
• Vision
• Wickham, 1998
The Trait Approach
• Confidence
• Brockhaus, 1975; Gibb, 1993
• Need for autonomy
• Watkins, 1976; Collins et al., 1964
• Innovativeness
• Schumpeter, 1934, 1965; Drucker,
1985
• Decision making
• Judgement
• Communication Abilities
• Scanlan, 1984
• Hornaday and Abound, 1971
• Carson et al., 1995
Single Trait Approaches: Achievement
Motivation (n-Ach)
•Defined as a desire to do well for the sake of an inner
feeling of personal accomplishment.
•A desire to excel.
•To have personal responsibility for solving problems.
•To achieve a goal in relation to a set of standards.
Characteristics of nAch Entrepreneurs
• Decisions with moderate degree of risk
• Belief that one’s ability will influence the attainment of a goal
• Perception that probability of success in obtaining a goal is
high
• Need for feedback
• Capacity to plan ahead
• Desire to take personal responsibility for decisions
• An interest in excellence for its own sake
• An interest in concrete results from decisions
However……..
• Chell et al (1991: 39) conclude that:
‘despite the claim of empirical support, there are lingering
doubts as to the predictive power of the achievement motive’
Single Trait Approach: Risk Taking
Propensity
• “Entrepreneurs enjoy the excitement of a challenge but
they do not gamble. Entrepreneurs avoid low risk
situations because there is a lack of challenge and avoid
high-risk situations because they want to succeed. They
like achievable challenges” (Meredith et al, 1982:25)
Risk-Taking Propensity
• Entrepreneurs have been described as ‘moderate’ risk-takers; who
take ‘calculated risks’ (Timmons et al, 1985).
• A complex issue,
regarding an individual’s perception of risk:
‘Perhaps in some instances, as the entrepreneur becomes more
aware of his business environment, he realises that the venture has
been more risky than he originally thought’ (Brockhaus, 1980; p512)
• Perceived
context more important determinant of risk-taking than
personality
https://www.facebook.com/innocourage
Risk + Innovation
High risk aversion
Low risk aversion
Highly-innovative
Dreamer
Entrepreneur
Not innovative
Stuck
Gambler
Risk in Entrepreneurship
o History of entrepreneurship is history of concepts of
risk (from Say, Cantillon and the Mercantilists to
Knight, Schumpeter and beyond)
o Entrepreneurial personality/traits – risk taking?
o Culture and entrepreneurship – attitudes to risk?
o Entrepreneurial cognition – perception and
management of risk
o The ‘risk capital’ industry – VC as the risk-bearer
o Prescription: higher entrepreneurship associated with
greater risk acceptance; entrepreneurial returns as
the return to risk bearing
Locus of Control
The psychologist Rotter (1966) developed personality measure of
‘locus of control’ – which regards the degree to which people
believe they are in control of their own destinies:
High internal locus of control: Individuals have strong belief that they
are in charge of their own destiny.
High external locus of control: Individuals feel events are outside their
control and are the result of luck, chance, fate or powerful others –
‘things happen to me’
(see Brockhaus, 1982).
Methodological Criticisms of Trait Theory
•Trait based studies basically a ‘snapshot’ of entrepreneurs at a
certain point in time, within a certain business and context,
therefore making generalisation difficult
• Diverse samples
• Startling number of traits associated with the entrepreneur.
In Reality…….
• ‘A “psychological profile” of the entrepreneur assembled from these
studies would portray someone larger than life, full of contradictions,
and conversely, someone so full of traits that (s)he would have to be a
sort of generic “Everyman”’ (Gartner, 1988, p21).
Philosophical Criticisms of Trait Theory
• Stability
• Consistency
• Internality
The Contribution of Trait Approach
•Emphasises an important message – that entrepreneurship is made
up of individuals – ‘impossible to discern the dancer from the dance’
(Carland et al, 1988)
‘If more research is desired about small business ventures, then one must
learn more about the individuals who create and manage them, because
the two are inextricably bound’
(Carland et al, 1988; p34).
Social or Demographic Approach
• Certain stimulants within an Entrepreneur’s social environment may
activate entrepreneurial activity
• Analysis of family history
• Age
• Education
• Occupation of parents
• Childhood experiences
• Birth order
• Religion and culture
• Work experience
Parental self employment and entrepreneurial
prosperity of their offspring
Abundant empirical evidence that parental self employment has a significant
positive influence on their off spring’s propensity to become self employed
‘entrepreneurs’ children tend to both inherit family firms and are in general
more willing to start up their own businesses’ (Niittykangas & Tervo,
2005:320)
Many entrepreneurs are family products
How does this Influence Operate?
• Exposure mechanisms: those children exposed to self employment are
more likely to regard it as an alternative to conventional employment
(Caroll & Mosakowski, 1987:576)
• Closure mechanism: self employed parents may facilitate their children’s
access to social and financial capital which may consequently facilitate
their entry into self-employment (Sorenson, 2007)
Role Models
• Learning can occur via their observation of behaviours in others referred
to as role models (Bandura, 1977)
• Having role models who exemplify possible career choices is a critical
aspect of an individual’s development including career choices (Miers et
al., 2007)
• Parents are important role models especially with regards to instilling
values and ethics in adolescence and adulthood (Halby, 2003)
• Negative role models vs. positive role model
Key Findings of GEM Global Report
2016
KSA
Ireland
Perceived Opportunities
75.8%
39.4%
Perceived capabilities
69.3%
45%
Fear of Failure
39%
40.9%
High status to successful
entrepreneurs
92.3%
80.3%
Entrepreneurship as a good career
choice
86.8%
52.6%
Total early-stage Entrepreneurial
activity (TEA)
9.4%
9.3%
Psychodynamic Model (Kets de Vries)
• Behaviour originates from the unconscious
• Most behaviour is goal-directed
• Personality is developed in early childhood
• A person at the crossroads
Psychodynamic Forces
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Environmental turbulence
Perception of rejection
High perception of control
Anger, hostility, guilt
Identity confusion
The “reactive” mode
Reluctance to delegate
Entrepreneurship as Action – Behavioural
Approach
• Psych studies treat entrepreneur as disconnected from context
• Individuals not distinct from their activities – they are part of and create
the systems within which they are situated
• Focus on “what the entrepreneur does”, not “who the entrepreneur is”
(Gartner, 1988)
• This view leaves open the possibility of developing entrepreneurship in
individuals
• Entrepreneurs “made” not “born” (Chell, 2001)
Entrepreneurship as Action -Behavioural
Approach
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As a process, not an attribute of a person (Stevenson and Jarillo, 1990)
An individual is not always entrepreneurial, may be team-effort
Necessity vs. opportunity entrepreneurship
Innovations as a response to the need for making un-programmed
decisions
• Transcends the limits imposed by the owner manager
• Possible at any stage of the life cycle of a business enterprise (Handy,
2004)
Necessity Vs Opportunity
Entrepreneurship
• Necessity based entrepreneurship
– Individuals start businesses because they feel they have no
other choice
– Recession has prompted an increase in necessity driven
start-ups
• Opportunity based entrepreneurship
– where entrepreneurs may be exploiting the potential for
new market creation
Cognitive Approach
• Originally such studies aimed to focus on “what the entrepreneur does”
not “who the entrepreneur is”
• Entrepreneurs are seen as having certain schemas or grouping concepts
in their mind that allow the entrepreneur to examine the environment
and find existing opportunities
• However, now focus on “special thinking”
• Still focuses on entrepreneur as having special abilities rather than
focusing on the process of entrepreneurship
• Impossible to develop such “schemas” need a different approach
A Holistic Approach
• Carland et al (1988:37) who states ‘some of us focus on the people: some
of us focus on the organisation. All viewpoints are needed. Some of us see
entrepreneurs as trees, others as snakes, others as ropes, others as walls.
This is as it should be. By comparing and debating our findings, we come
to a greater understanding of the whole’
To Conclude
• Static character of entrepreneurial traits precludes notion that
entrepreneurs can learn and develop as they manage their business
• More useful to think of these traits as aspects of the entrepreneurial
character, whatever that may be, which individuals possess in
different degrees at different stages in their personal development
• Better to conceptualise entrepreneurship as a dynamic, process-based
phenomenon where there exists a spectrum or continuum of
entrepreneurial behaviour and beliefs – some people more
entrepreneurial than others
The female entrepreneur: Zaha Hadid.
The purpose of this is to develop a report about the person an entrepreneur whom perceived to be a role
model outlined above. The report will be approx. 2000 words.
In this report you will be required to discuss the following;
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Background of the entrepreneur, the industry and the company that he/she created
Characteristics/traits of the entrepreneur evident
Comparison of the entrepreneur to academic entrepreneurship theory
Challenges which the entrepreneur encountered during the early stages of new venture
creation
Mistakes which the entrepreneur may have made during their career
Main competitors of the new venture created and methods by which the entrepreneur
overcame these (or did he/she)
Strategies employed by the entrepreneur to gain success
Current threats or opportunities for the entrepreneur and his/her company (mention her
contributes in KSA)
Future prospects for the entrepreneur
A key aspect of this report will be to apply your knowledge of the entrepreneur to academic
entrepreneurship theory.
This requires the use of multiple sources in order to document the entire career trajectory of the
entrepreneur.
This will entail a selection of the following sources;
–
Journal articles relating to entrepreneurial theory and practice
Industry reports (industry, competitor, company)
Newspaper articles
Interviews
Radio or TV broadcasts
Etc.
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