E Characteristics

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Workshop BEIC-TT-20081

Personal Entrepreneurial

Characteristics

Workshop 3

memihkar lemeizam

24 June 2008

Uzi de Haan co-developed with Mia Erez


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Entrepreneurial Characteristics

Fundamental Research Questions (Baron, 2002)

How and why do some people, but not others,recognize opportunities

How and why do some people, but not others,decide to become (a) an entrepreneur, (b) start newventures, and (c) exploit opportunities

How and why do some people, but not others,

organize new ventures that grow rapidly and aresuccessful or become life-style entrepreneurs orintrapreneurs


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Entrepreneurial Characteristics

Are you born with them or can they be learned? Can you assess/measure them and use this for

recruitment and decision to invest Can teams complement the entrepreneurial traits andabilities needed

To which degree are entrepreneurship characteristicscontextual. E.g. in certain environments, organizationalcultures individuals are entrepreneurial and in othersnot

Are there thresholds values for essentialentrepreneurial characteristics above which, contextdetermines entrepreneurial action. E.g. Chinese andIndians in Silicon Valley, Russian immigrants in Israel,laid off employees


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Essential conditions for successand attracting investment

High Growth

Market

The Founder

The Team

Unique

Technology/

Products

$100M+

Exit


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To team or go to on your own

Advantages of teaming: Complementary skills Risk reduction Emotional support Can be part-time for some team members e.g. faculty members Investors like teams

Success rates of founders teams of start-up companies

Disadvantages of teaming Dilution of ownership Conflicts in team

Inequalities in responsibilities Changes in roles and composition of team difficult to manage


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Entrepreneurial Roles and Involvement of

University Researchers in Technology Transfer

Level ofInvolvement

10

1

0

CEO of Spin-Off

(part-time) member of founders team

consultant of the spin-off or licensee

consultant during the Technology Transfer Process

Support of TT Office in communication with licensees

Invention disclosure to TT Office/ ISKIT

No involvement, only publications

Roles


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Research on the characteristics of

entrepreneurs and innovators

Despite extensive research and research hypotheses little conclusive evidence of relationsbetween personality and other characteristics and intention to be entrepreneur orentrepreneurial performance.

Variables with an impact are:- Need for achievement- Need for autonomy

- Personal Initiative- Self confidence- Open to experiments, innovativeness- Tenacity and endurance- Incremental Innovator- Breakthrough innovator- Passion- Creativity- Risk-taking- Conformity- Entrepreneurial Self-Efficacy- Employment status, education, married, experience, age, social

ties


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entrepreneurs and innovators as predictor for

entrepreneurial intention and performance - Need for achievement

- Need for autonomy- Personal Initiative- Self confidence- Open to experiments, innovativeness

- Tenacity and endurance- Incremental Innovator- Breakthrough innovator- Passion- Risk-taking- Conformity

- Entrepreneurial Self-Efficacy- Employment status, education, married, experience, age, social

ties- Entrepreneurial Experience


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Entrepreneurial Self-efficacy

Motivational construct of self-efficacy and situational self-efficacy is developed by Bandura, 1986

Self-efficacy is the belief in ones ability to muster andimplement the necessary personal resources, skills andcompetencies to attain a certain level of achievement on agiven task (Bandura, 1997)

Self-efficacy can be seen as task-specific self-confidenceand has been shown to be a robust predictor of individualtask performance

Entrepreneurial self-efficacy concerns entrepreneurshiprelated tasks and will influence entrepreneurial intentions

Self-efficacy is changeable amongst others by learning


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Dr. Michael KirtonsKirton Adaption/Innovation Inventory

Outgrowth of British government study

Measures STYLE of creativity, NOT amount

Facet of who you are as a person

First published in 1976 by Dr. Kirton


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Your Creativity Style

An inborn Orientation, its not achoice; you cannot change it.

Part of who you happen to be. Observable very early in life. Stable over time. Independent of age, education,

birth order, gender, culture.


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Creativity Style Continuum

32 160

96Perfects thesystem

(incremental)

Changes thesystem

(radical)

KAI Continuum

#


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My first impulse on taking any

apparatus into my hand, is to

seek a way of improving it.

I have never worked on anything

that didnt already have a

working model.

-Thomas Edison

With 1093 patents to his credit, HOW was

Thomas Edison creative?


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Imagination is more

Important thanknowledge.

If we knew what we weredoing it wouldnt be called

research would it?

-Albert Einstein

HOW was Albert Einstein Creative?


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Differences in Style

32 160

96

Edison Einstein

Continuum


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entrepreneurs and innovators as predictor for

entrepreneurial intention and performance - Need for achievement

- Need for autonomy- Personal Initiative- Self confidence- Open to experiments, innovativeness- Tenacity and endurance- Incremental Innovator- Breakthrough innovator- Passion- Risk-taking

- Conformity- Entrepreneurial Self-Efficacy- Employment status, education, married, experience, age, socialties


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Exercise with short questionnaire

Please complete and calculate average scores onvariables

Entrepreneurial Experience Q 1-2 Score between 0-2

Entrepreneurial Self-efficacy Q3- 10 Score between 1-5

Personal Initiative Q11-13 Score between 1-7 Incremental innovation Q14-17 Score between 1-7

Entrepreneurial intention Q18 Score 1-5

Radical Innovation Q19-21 Score 1-7

Risk-taking Q22-23 Score 1-7

Discuss results

Documents

E Characteristics