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Group 6 (Entrepreneurial Personality Traits)

The document discusses the Big Five personality traits and their relevance to entrepreneurial personality, highlighting differences between entrepreneurs and managers. It also explores self-efficacy and its relationship with the Big Five traits, along with concepts like innovativeness, locus of control, and the need for achievement. Overall, it emphasizes how these traits and beliefs influence entrepreneurial behavior and success.

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10 views3 pages

Group 6 (Entrepreneurial Personality Traits)

The document discusses the Big Five personality traits and their relevance to entrepreneurial personality, highlighting differences between entrepreneurs and managers. It also explores self-efficacy and its relationship with the Big Five traits, along with concepts like innovativeness, locus of control, and the need for achievement. Overall, it emphasizes how these traits and beliefs influence entrepreneurial behavior and success.

Uploaded by

airaleejares
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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ENTREPRENEURIAL PERSONALITY TRAITS

MODULE 4
THE BIG FIVE PERSONALITY TRAITS
The Big Five personality traits or the Five Factors Model (FFM) have their
early beginning from the Hippocratic temperament:
• Sanguine: Linked to emotional stability and extraversion.
• Phlegmatic: Stable but introverted.
• Choleric: Unstable and extraverted.
• Melancholic: Unstable and introverted.
CORE TRAITS:
• Openness to Experience: Encompasses the breadth, depth, originality, and
complexity of a person’s mental and experiential life.
• Conscientiousness: Involves impulse control that supports task- and goal
oriented behavior.
• Extraversion: Reflects an energetic approach to the social and material world,
including traits like sociability, activity, and assertiveness.
• Agreeableness: Represents a pro-social and communal orientation toward
others, including traits like altruism, trust, and modesty.
• Neuroticism: Contrasts emotional stability with negative emotional states,
such as anxiety and sadness.
DIFFERENCES BETWEEN ENTREPRENEURS AND MANAGERS BASED ON
THE BIG 5 PERSONALITY TRAITS:
• Openness to Experience: Entrepreneurs are more open (>) to experience
than managers.
• Achievement Motivation: Entrepreneurs have higher (>) achievement
motivation than managers.
• Conscientiousness: Entrepreneurs can have either low or high (V)
conscientiousness compared to managers.
• Extraversion: Entrepreneurs can have either low or high (V) extraversion
compared to managers.
• Agreeableness: Entrepreneurs have lower (<) agreeableness than managers. •
Neuroticism: Entrepreneurs have lower (<) neuroticism than managers. •
Dependability: Entrepreneurs and managers are similar (=) in dependability.

SELF-EFFICACY (SE)
Refers to an individual’s belief in their own ability to succeed in specific
situations or accomplish a task. It influences how people approach goals,
challenges, and tasks, impacting their motivation, effort, and persistence.
RELATIONSHIP OF SELF-EFFICACY WITH BIG-5 PERSONALITY TRAITS:
• Openness to Experience (O): High openness is often positively related to
self-efficacy, as individuals who are imaginative and curious may feel more
confident in their ability to explore and implement new ideas.
• Agreeableness (A): The relationship is mixed. High agreeableness may
sometimes negatively affect self-efficacy because highly agreeable individuals
might avoid conflicts and assertiveness, potentially impacting their confidence
in competitive or challenging situations.
• Conscientiousness (C): The effect is debated. While high conscientiousness
generally implies diligence and reliability, which can support self-efficacy,
excessive focus on task completion might also lead to a negative impact if it
hinders adaptability and creativity.
• Extraversion (E): Extraverts typically have higher self-efficacy due to their
sociability, assertiveness, and enthusiasm, which help them build networks
and engage with others effectively.
• Neuroticism (N): High neuroticism is usually negatively related to self
efficacy. Individuals with high neuroticism may experience more anxiety and
stress, which can undermine their confidence and effectiveness in managing
challenges.
ENTREPRENEURIAL SELF-EFFICACY (ESE)
Includes skills in innovation, risk-taking, marketing, management, and financial
control. Higher in entrepreneurship students compared to other business students
(Chen et al., 1998).
INNOVATIVENESS AND PRODUCTIVITY
Industries with high rates of small firm entry often show high rates of
innovation and productivity growth (Parker, 2009).
INNOVATIVENESS (DOMAIN – SPECIFIC/GENERAL)
Refers to how individuals respond to new ideas. It correlates with Big-5 traits
and is either global or domain-specific (Goldsmith and Foxall, 2003; Hurt et al.,
1977).
LOC
Stands for Locus of Control.
INTERNAL LOC
Belief that one’s abilities and efforts control outcomes, rather than external
forces (Shapero, 1975; Brockhaus, 1982).
NEED FOR ACHIEVEMENT (nAch)
• Desire to accomplish challenging business goals (McClelland, 1985; Murray,
1938).
• Need for Achievement (nAch) is a concept based on the “Acquired Need
Theory” (need gained through experiences in life) of McClelland (1985)
considered as the dominant needs that influence individual actions in a work
setting.

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