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Journal of Entrepreneurship

DOI: 10.1177/097135579800700204 1998; 7; 183 Journal of Entrepreneurship

V. Vijaya and T.J. Kamalanabhan A Scale to Assess Entrepreneurial Motivation

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A Scale to Assess

Entrepreneurial Motivation

V. VIJAYA and T.J. KAMALANABHAN

Much of the research conducted in India in the area of entrepreneurshipconsiders personality characteristics and motivation interchangeably. Thisarticle argues that there is a need to treat entrepreneurial motivation as aseparate entity and objectively measure and classify different types ofmotivation to draw meaningful inferences. The authors attempt here todevelop a scale relevant to the Indian context to measure entrepreneurialmotivation. The sample for the study was drawn from 195 potential womenentrepreneurs. Five core motivations—the entrepreneurial core motiva-tions, the work core motivation, the social core motivation, the individualcore motivation and the economic core motivation—are identified with thehelp of factor analysis by the principal components method. Their strengthis measured using the the Likert-type five-point rating scale.

V. Vijaya is Research Fellow and T.J. Kamalanabhan is AssistantProfessor in the Department of Humanities and Social Sciences, IndianInstitute of Technology, Madras.

’Why do they act as entrepreneurs?’ is a major question thatentrepreneurship research has tried to answer.’ In the course of answeringthis question, many research studies have identified various types ofentrepreneurial motivation. It has often been stated that the single mostimportant causative factor in the rise of entrepreneurship is achievementmotivation. It is described as a social-psychological drive among thepeople that leads to economic development of a country. The propositionthat a high need for achievement is positively related to entrepreneurshipis premised on assumptions like existence of an open social structure,relative freedom of occupational choice and perception of moderatechance of success where individual efforts can directly effect success orfailure.2 Studies on the rise of entrepreneurship also state that the need forprestige, power and self-confidence are used as reassuring weapons todeal with low self-esteem and related feelings of anxiety by the



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entrepreneur.’ Entrepreneurs are concerned mainly with influencing theenvironment, individuals and institutions to achieve their goals. In otherwords, they are driven by, what can be called, power motivation.4 It isemphasised that it is necessary to develop motivational needs complemen-tary to the need for achievement like the need for power and the need foraffiliation in a proportionate manner. Another important entrepreneurialmotive identified is self-actualisation.1 An Indian study has found thatpower, self-actualisation and achievement motivation are significantlyhigher in entrepreneurs compared to economic and affiliation motivationA number of motivational characteristics have been recognised in

entrepreneurs by researchers. They include value for innovativeness,independence, outstanding performance and respect for work.’ An inves-tigation by Ettlie and O’Keefe reveals that experimenting with new ideas,enjoying change, facing uncertainty in order to try new ideas, findingproblems to solve, working on a problem which causes great difficulty forothers and valuing unconventional behaviour are some of the importantentrepreneurial characteristics.’ Another study observes that entre-preneurs from Malaysia and Hong Kong are lured by the accompanyingchallenges and independence.9 Emphasis has also been laid on qualitiesof independence and creativity among entrepreneurs.&dquo;’ They are not justopportunistic, but are also creative and innovative.&dquo; An enquiry amongentrepreneurs engaged in technical endeavours found that they got intotheir own business because it is challenging, it gives them the freedom toexplore new ideas and enables them to be their own boss.’2 Entrepreneurswith large ventures were found to be motivated by a desire to control thekind of work they do and were less sensitive to criticism and rejection ofideas.’3

Further, the entrepreneur’s unfulfilled personal needs may trigger offreaction to pertinent external and internal stimuli, which leads to recog-nition of a business opportunity by an entrepreneur.’4 Dissatisfaction withprevious occupations could be another compelling factor.&dquo; In fact, in theIndian context, negative factors such as paucity of employment oppor-tunities and unattractive service conditions have drawn many technicallyqualified young men into entrepreneurship. On the positive side, thenewly acquired prestige value of entrepreneurship has acted as a strongstimulant. Effective campaigns and the financial, technical and infrastruc-tural support extended by the government has also played a significantpositive role in the development of entrepreneurs. 16 The role of govern-ment policy in creating business opportunies has been highlighted bymany studies.

17



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For many people, the dream of being financially self-sufficient isenough to stimulate the pursuit of entrepreneurial opportunity. It has alsobeen stressed that security, prestige, power and social service are equallypotential motives.’8 As far as the personal characteristics of a typicalentrepreneur are concerned, the available studies have delineated a num-ber of them like innovativeness, risk-taking, effective foresight, problemsolving, readiness to take initiatives, resourcefulness, use of influencingstrategies and the like. 19 Hornaday and Aboud report that need for achieve-ment, support, independence and leadership are the most significantentrepreneurial characteristics.2&dquo;

When it comes to women entrepreneurs, it has been argued that moneyis rarely the primary driving force. Many of them are observed to be drivenby the objective of providing services to mankind .21 They are frequentlyfound to be pursuing social goals like customer satisfaction, together witheconomic goals.22 Social issues and problems also act as impetus forwomen to begin business .2’ Another important business motivation forwomen is the need to provide security to the famlly.24 Womenentrepreneurs are often motivated by a desire to have flexibility in theirwork and family.&dquo;

Comparing the motivational patterns of men and women entrepre-neurs, it may be said that typically a man’s motivation arises fromdisagreement with established authority or a feeling that ’I can managethings better’, coupled with the drive to control one’s own destiny. Forwomen, the reasons seem to be different. As they are not allowed toperform at the level they are capable of in their work, many of themexperience job frustration. Such women are driven to entrepreneurshipbecause of the independence and sense of achievement it offers .2’ Themajor sources of motivation for women could thus be need to achieve,desire to be independent, need for job satisfaction, economic necessity,desire to make use of one’s talent or skill and the desire to be one’s ownboss. 21A study done in the 1980s observes that for women entrepreneurs in

India, the main motivating factors for starting a business are economiccompulsion, the presence of knowledge and skills, need for achievement,inspiration gathered from the success of others and frustration in thepresent occupation .2’ Another study ranks the desire to do somethingindependently as the most important, followed by the desire to keeponeself busy and to earn money. 21 Yet another research concludes thatwomen take up entrepreneurship to fulfil economic needs and to satisfysome of their personality needs like power and achievement and to gain



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a novel experience. 311 Women entrepreneurs are observed to demonstratepsychological characteristics like achievement motivation, risk-takingpreference, problem-solving tendency, initiative, tenacity and per-severance-all of these motivate women into starting business ventures.3’

Attempts have been made to demarcate various motivations of success-ful and unsuccessful entrepreneurs. In one such study, the need forachievement, eagerness to succeed and need for innovation were foundto explain 76 per cent of the variance between successful and unsuccessfulentrepreneurs 32 Another study based on international data evolved sixfactors-need for personal development (that relates to the need to learn,to develop an idea for a product or business, the need for a challenge ofstarting and growing a business, to contribute directly to the success of acompany and the need to be innovative in the technological forefront);degree of communitarianism (which measures the need to contribute tothe welfare of the ethnic group, to the community in which one lives, andto the welfare of one’s relatives); need for approval (that measures theneed to be respected by friends, to achieve something and get recognitionfor it, to have more influence in the community and to follow the exampleof a person whom one admires); perceived instrumentality of wealth (thatconcerns the desire to have high earnings, the need for more money tosurvive, to give oneself and one’s family security and to have access tofringe benefits); need for independence (that focuses-on such needs likethe need to control one’s own time, to have greater flexibility for privatelife and the freedom to adapt one’s own approach to work); and need forescape (which measures the motivation to avoid frustration from a pre-vious job and to avoid working for an unreasonable boss).33

It emerges from a careful review of the available studies that motiva-tion and personality traits have been used interchangeably by Indianresearchers. For example, achievement motivation has been looked at asthe need to achieve, a personality characteristic. Though they aresynonymous to a certain extent, a motivation is different from a per-sonality trait. Motivation is the willingness to exert high levels of efforttowards achieving organisational goals conditioned by the effort’s abilityto satisfy some individual need. General motivation is concerned witheffort towards achieving any goal, while organisational goals deal withwork-related behaviour.34 Motivation results from an unfulfilled need; itis a response of the organism when it is affected by an internal or externalstimulus. It usually results from a drive. Personality traits, on the otherhand, are predispositions to behave in certain ways. They cannot besummed up as consequences arising from a need. They are genetically



/187

determined to a certain extent and shaped by the environmental influen-ces, get crystallised over time and are usually long-lasting in the life of aperson. The motivational state is relatively a temporary phase as thestrength of the motive usually decreases as the need object is attained. Butpersonality traits are well-established patterns of behaviour that are moreor less permanent unless an important and strong enough environmentalvariable affects the person and changes the behavioural pattern. Peoplewith similar personality traits can have different motivations. Also, peoplewith the same kind of motivation can have different personalities. It can,thus, be inferred that motivation and personality trait are different entities.Therefore, there is a need to study and measure entrepreneurial motivationas an individual entity distinct from entrepreneurial personality. Thedistinction made between a personality trait and a motivation specificallyin entrepreneurship literature will help focus research on the specificaspects and look into the dynamics of entrepreneurial antecedents in acomprehensive manner.A number of scales to measure work motivation have been constructed

so far especially in the organisational context. Though many work motiva-tions are similar for an employer and employee (for instance, the need toachieve, to be creative, to be independent), some motivations and situa-tions are applicable only in the entrepreneurial context. In this regard, theneed for an entrepreneurial motivational scale was felt to understand themotivation of an employer who has a self-made career identity, whodiffers from an employee and who does not work for an organisation, butcreates one.

The methodologies employed most often were cross-sectional surveyswith descriptive statistics which often did not link the research totheories.35 Moreover, many of the instruments used to test entrepreneurialmotivations were based on psychological motivations of males.36 Motivessuch as flexibility, necessity, social contribution and affiliation need to betested on male and female business owners.3’ Another lacuna in suchstudies is the lack of statistical sophistication.38 Most of the Indian studieson motivation are descriptive in nature. If such studies have to be usefulin drawing inferences, it is essential that a statistically sound scale isdeveloped. We attempt to do this in the following section.



188,

Methodology ’

Steps Involved in the Scale Construction, Item Constructionand Method of Scaling

As an initial step, a number of characteristics delineated as entrepreneurialmotives were listed from the literature available and twenty-seven of themwere chosen. The Likert-type scaling procedure was adopted to measurethe strength of the motives. The five-point scale ranged over ’notimportant’, ’slightly important’, ’important’, ’very important’ and ’ex-tremely important’. The scoring ranged from 0 to 4 respectively. It wasphysically formatted in such a manner that the respondent had to just markthe appropriate box indicating the degree of importance (Appendix 1).The numbers were not presented to the respondent. To enable easyresponse by the participants, it was decided that the numbers would beused only during the scoring phase, and not during the response phase.

Sample The data was collected from 195 potential women entre-preneurs attending an entrepreneurship development programme. Theassumption was that the motivation to start business of potential entrepre-neurs were comparable to those of established entrepreneurs, the onlydifference between them being either the presence or absence of ex-perience in business. The age of the respondents ranged from 23-52 years.

Steps in Data Analysis

Item Analysis The data collected was subject to item analysis. Theitem-item correlation ranged from (-) 0.11 to 0.55. The item-total cor-relation ranged from 0.23 to 0.52, significant at 0.05 level. This meant amoderately fair discrimination between the items. The alpha (vex) coeffi-cient was calculated to find out the internal consistency of the items onthe scale. It was found to be 0.84 which indicated that the internal

consistency was quite high.

Factor Analysis The data collected was subject to factor analysis bythe principal components method. Normalised varimax rotations werecomputed. The minimum factor loading observed was 0.37 and themaximum loading was seen to be 0.76. The five factors that emerged outof the analysis are entrepreneurial core motivation, work core motivation,social core motivation, individual core motivation and the economic core



189

motivation. The factors, their respective items with the numbers and theircorresponding factor loadings are given in Table 1.

TABLE 1

Factors and the Corresponding Items with Factor Loadings



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The item-item correlations and the item-factor correlations werecalculated within each factor. They were found to be significant at 0.05level. The data are presented in Table 2. It can be seen that the minimumitem-item correlation for the five factors ranges from 0.128 to 0.170. This

portrays a picture of the discrimination between the items on each factor.When we look at the maximum inter-jtem correlations in the factors, wefind that they range from 0.361 to 0.450. This indicates that there is amoderate relationship between the items within each factor. The itemswithin the five factors are found to be homogeneous, but seem to alsomaintain their heterogeneity. ..

TABLE 2

Factors, Minimum and Maximum Item-Item Correlations,Item-Factor Correlations and Alpha Within Each Factor

A look at the item-factor correlations from the range of the minimum

item-total correlation, shows that the range is from 0.172 to 0.338 and themaximum range is from 0.378 to 0.522. We can reasonably assert theaffinity of the items to the factors with which they identify. Finally, as welook at the a coefficients within each factor, the range starts from 0.568to 0.700. This implies that the internal consistency indicating -thehomogeneity of the items within the five factors is reasonably high.

The five factors and their relative contribution to variance are

presented in Table 3. It can be seen that all the five factors have an

eigenvalue of above 1, ranging from 1.239 to 5.669. Factor 1, the

entrepreneurial core motivation contributes the maximum variance of 21 1per cent, followed by factor 2, the work core motivation which contributes9.4 per cent. Social core motivation, factor 3, contributes to 5.8 per centof the variance, while factor 4, individual core motivation explainsanother 5.5 per cent. Factor 5, economic core motivation contributesanother 4.6 per cent of the variance. The total cumulative variance

explained by the five factors is 46 per cent (Table 3).



191

TABLE 3

Factors, Eigenvalues, Percentage of Variarnceand Cumulative Percentage of Variance

Description of the Factors

We elaborate on the various motivational dimensions of the factors.

Entrepreneurial Core

Motivation to start a career with an entrepreneurial venture is gatheredfrom this factor. The motivations classified under this factor are the needto take calculated risk and the confidence to ~deal with it effectively, theneed to be independent, the need to provide good products and servicesto people, the need to provide employment and to feel competent to utilisethe financial grants and loans from the government and bank. It may seemthat, ideally, the latter item should have been loaded in the economic core.However, it has not been so. The possible explanation is that the act ofsubmitting a proposal to a financial institution, following it up and

convincing the officials of one’s entrepreneurial competence and makingthem issue a loan is a stupendous task, specially for women entrepreneursin India. Only if one feels very competent in all these dealings does onebegin to think of starting a business, specially if there is no financial

support from elsewhere. So, this item presumably measures the motiva-tion to be competent to avail of loans and not just the need to procurefinancial aid.

Work Core

The need to exploit one’s innate talent and potential in a profession, themotivation to use one’s skills of decision-making and problem-solving ina career, the need to be creative and innovative in an endeavour and the

need to achieve something that others usually do not, form part of the listof motivation classified under this dimension. These motivational patterns



192,

seem to correspond to one of the psychogenic needs, the need for achieve-ment as put forth by Henry Murray. 39 In elaborating on this need, heincludes such wants as the desire to accomplish something difficult, theneed to master, manipulate or organise physical objects, people or ideasas independently as possible, the urge to overcome obstacles and attain ahigh standard of excellence and the drive to rival and surpass others. Toutilise the amount of keen business sense one assumes oneself to possessand to get complete job satisfaction are also motives that are clusteredunder this dimension. Business sense has been perceived as a sharp andeffective way of dealing with money and material resources, which maybe seen as a cognitive quality just like creativity and problem-solvingskills. Also, people who have the business sense as it is understood in theday-to-day life, do not always start a business venture, but are known tobe very careful in financial dealings. This has made us classify it underthe work core.

Social Core

Among the needs classified under the social core motives are the need toassume a leadership role where one has access to power and influenceover others, to attain high social status and to earn the respect of people.These prominent social motivations of many individuals can be explainedin terms of the psychogenic needs of dominance and exhibition. 411Entrepreneurs are trendsetters and not followers. The motivation to beable to employ and not be employed, from which one infers anindividual’s refusal to work under an authority figure, finds evidence inSigmund Freud’s psychoanalytic interpretation of entrepreneurship.Freud’s psychoanalytic view holds that the entrepreneur has unresolvedfears of his father who is a weak figure in his life and, hence, is unable toserve under a male figure in an organisation. He proposed that poor rolemodels of fathers create in the child an aversion to authority and thisconflict makes them disinclined to work under somebody, even later inlife.4’ Hagen’s theoretical concept of status withdrawal and the resultantentrepreneurial behaviour reflects the need to feel relatively socially equalor superior. 12 That is also a motive measured under this dimension.

Ind iuidual Core ’

One of the items measured under this dimension, is the motivation toassert one’s individuality by desiring a personally preferred workstyle andlifestyle. This stresses on a stance, where one may feel free and liberal



/193

enough to perhaps express unconventional modes of behaviour also.Aversion towards monotony and the need for change is also an indicatorof individual dynamism. Many research studies state that entrepreneursare non-conforming and dynamic and not conservative.43 To acquire lotsof wealth for self has been classified under this dimension and not underthe economic core motivation because this item emphasises more onindividuality or selfhood. Enjoying the best luxuries of the world is alsoan important motive that indicates the extent of importance the personattaches to expressing his refined tastes and high standards of materialpreferences. Today’s society stresses the value of individuality and per-sonal worth and preferences. The entrepreneur being a confident,self-assured and assertive individual can be assumed to have a high levelof individuality.

Economic Core

To get over shortage of money is one of the important motives of themiddle-class small-scale entrepreneur and also the rural entrepreneur. Tomake money to clear debts and the need to supplement the family incomeare also similar motives. To make the family rich and to get the bestmonetary returns for one’s talent seems to be the inclination of theeducated youth nowadays. They get the opportunity to attain a profes-sional degree and want to climb up the social ladder. To ensure financialstability of children is a motive of well-meaning parents who have decidedthat getting into business in spite of the risks involved is the best way tomake good money. These are motives classified under the economic core.

. The Utility of the Scale

Given that motivations other than need for achievement have to be

explored, this scale would be helpful in understanding the patterns ofmotivation in enterpreneurship. Entrepreneurial research can seek to findout the relationship between motivational patterns and the otherentrepreneurial variables like type of venture, competence and skills.Also, differences in motivational strengths between men and womenentrepreneurs and variance between different classifications of

entrepreneurial ventures like manufacturing. trading and service amongmany others can be studied in a more elaborate manner. An understandingabout the relationship between motivational dimensions and otherenterpreneurial variables can provide us w ith deeper insights into themotivational profiles of potential entrepreneur. This can be helpful in



194/

counselling and deciding upon the kind of venture the individual wouldlike to undertake, so that it can fulfil many of the motivational require-ments of the aspirant.

Some Concluding Remarks

The scale is a preliminary attempt in classifying entrepreneurial motives.The motives measured here may not encompass all factors. The factorsselected here explain only 46 per cent of the cumulative variance. Thecumulative variance increased to 54 per cent while factor anlysis was doneafter controlling the variable education. This showed clearly that otherdemographic variables will have to be controlled or balanced if cumula-tive variance contributed by the factors have to be optimum. And specificvariance explained by other extraneous variables have to decrease. Amuch larger sample could have dealt with such issues.



195

APPENDIX 1Entrepreneurial Motivation Scale

Every person expects many things from an occupation. Your career choice to take up abusiness enterprise also must have been made keeping many needs and desires in your mind.Rate how important the reasons provided in the table have been, to lead you to chooseentrepreneurship as a career.

For each reason, TICK THE SPACE which indicates the degree of importance.



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Notes

I. H.H. Stevenson and J.C. Jarillo, ’A Paradigm of Entrepreneurship: EntrepreneurialManagement’, Strategic Management Journal, XI, Summer Special Issue (1990).

2. David C. McClelland and David G. Winter, Motivating Economic Achievement (NewYork: The Free Press, 1969).

3. M.F.R. Kets De Vries, ’The Entrepreneurial Personality: A Person at the Crossroads’,The Journal of Management Studies ( 1977).

4. S. Nelton and K. Sorney, ’Women: The Starting on Their Own’, Nation’s Business,XLV-5 (1979).

5. Hrishikes Bhattacharya, ’Entrepreneurial Development : A Behavioural Model’,SEDME (1979).

6. Kamala Singh, Women Entrepreneurs (New Delhi: Ashish Publishing House, 1992).7. M.M.P. Akhouri and S.P. Mishra, ’Entrepreneurship Education: A Conceptual Base,

Approach and Methodology’, Indian Management, XXIX-11, November-December(1990).

8. Ibid.

9. G.V. Javillionar and G.R. Peters, ’Sociological and Psychological Aspects of IndianEntrepreneurship’, British Journal of Sociology, XXIV-3 (1973).

10. G.R. Collins and D.G. Moore, The Organisation Makers: A Behavioural Study ofEntrepreneurs (New York: Appleton, 1970).

11. Howard H. Stevenson and David E. Gumpert, ’The Heart of Entrepreneurship’,Harvard Business Review, March-April (1985).



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12. Isaiah A. Litvak and Christopher J. Maule, ’Profiles of Technical Entrepreneurs’, TheBusiness Quarterly, Summer (1974).

13. Henry R. Feeser and Kathleen Dugan Watson, ’Entrepreneurial Motivation: A Com-parison of High and Low Growth High Tech Founders’, Frontiers of EntrepreneurshipResearch (1989).

14. Sougata Ray and K. Ramachandran, ’Towards a Framework for a ComprehensiveTheory of Entrepreneurship’, The Journal of Entrepreneurship, V-1 (1996).

15. V.K. Tewari, Joseph Phillip and Amar Nath Pandey, Small Scale Industry: Success andFailure (New Delhi: Concept Publishing Company, 1991).

16. S.V.S. Sharma, Small Entrepreneurial Development in Small Asian Countries: AComparative Study (New Delhi: Life and Light, 1979).

17. For instance, Stevenson and Gumpert, ’The Heart of Entrepreneurship’, (no. 11 above).18. Vidyu Lata, Developing Rural Women (New Delhi: Discovery Publishing House,

1990).19. R. Subramanian, ’Small Entrepreneur Research: A Factor Analysis Model’, SEDME

( 1980).20. J.A. Hornaday and J. Aboud, ’Characteristics of Successful Entrepreneurs’, Personal

Pscyhology, XIV (1971).21. C. Cox and Jenning, ’The Foundations of Success: The Development, Work Experience

and Characteristics of British Entrepreneurs and Intrapreneurs’, Proceedings ofENDEC International Entrepreneurial Conference, Singapore, March (1990).

22. C. Holmquist and E. Sundin, ’Women Entrepreneurs in Sweden— Conclusions fromA Survey’, Frontiers of Entrepreneurship Research (1988).

23. C. Leibow, ’Necessity Mothers a Child Care Invention’, Nations Business, June (1991).24. A.H. Cole, Business Enterprise in its Social Setting (Cambridge: Harvard University

Press, 1959).25. C. Holmquist and E. Sundin, ’What’s Special about Highly Educated Women

Entrepreneurs?’, Entrepreneurship and Regional Development, II-2 (1990).26. Robert D. Hisrich, ’The Women Entrepreneur: Characteristics, Skills, Problems and

Prescriptions for Success’, in Donald L. Sexton and Raymond W. Smimov (eds), TheArt and Science of Entrepreneurship (Cambridge: Baldinger, 1986).

27. Robert D. Hisrich and Candida Brush, ’The Women Entrepreneurs: Implications ofFamily, Educational and Occupational Experience’, Frontiers of EntrepreneurshipResearch (1983).

28. Gulab Singh Azad, ’Development of Entrepreneurship Among Indian Women: APsychological Analysis’, SEDME, XVI (1989); R.D. Hisrich and Marie O’Brien, ’TheWomen Entrepreneur as a Reflection of the Type of Business’, in K.H. Vesper (ed.),Frontiers of Entrepreneurship Research ( 1982).

29. C. Rani, ’Potential Women Entrepreneurs—A Study’, SEDME, XIII-3 (1986).30. Asghari Mohinuddin, ’Entrepreneurship Development Among Women—Retrospects

and Prospects’, SEDME, X-1 (1983).31. N.P. Singh and R. Sengupta, Status of Women in the SSI Sector—A Research Report

(New Delhi: NIESBUD, 1991).32. Gerhard Plaschka, ’Person-Related and Microsocial Characteristics of Successful and

Unsucce ssful Entrepreneurs’, Frontiers of Entrepreneurship Research ( 1982).33. Paolo Lubini, Scuola di Direzione Aziendale, ’Motivational and Environmental In-

fluenccs on Business Start Ups: Some Hints for Public Policies’, Frontiers ofEntrepreneurship Research (1988).



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34. S.P. Robbins, Organisational Behaviour: Concepts, Controversies, Applications (NewDelhi : Prentice Hall of India, 1996).

35. G.C. Brush, ’Research on Women Business Owners: Past Trends, a New Perspectiveand Future Directions’, Entrepreneurship Theory and Practice, XVI-4 (1992).

36. A. Hurley, ’Incorporating Feminist Theories into Sociological Theories ofEntrepreneurship’, Paper Presented at the Annual Academy of Management Meetings,Entrepreneurship Divison, Miami, Florida, August 1991.

37. G.C. Brush, ’Research on Women Owners’ (no. 35 above).38. Pawan K. Sharma and Nageshwar Rao, ’Research Trends in Entrepreneurship and

Small Business in India : Directions and Prospects’, SEDME, XXI-4 (1994).39. Henry Murray, Explorations in Personality: A Clinical and Experimental Study of Fifty

Men of College Age (New York: Oxford University Press, 1938).40. Ibid.41. Sigmund Freud, An Outline of Psycho-Analysis (London: Hogarth, 1964).42. Everett E. Hagen, ’How Economic Growth Begins: A Theory of Social Change’, in

Peter Kilby (ed.), Entrepreneurship and Economic Development (New York: The FreePress, 1971).

43. A. David Silver, The Entrepreneurial Life: How to Go for it and Get it (New York:John Wiley and Sons, 1983).



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