It was asserted by Nadkarni and Herrmann (2010:1050) that the personality traits of an entrepreneur influence the strategic decisions and actions of a firm which eventually have implications on the firm’s performance. Burger (2010) defined personality trait as the regular behaviour patterns and intrapersonal processes that is from within a person. In simply words, personality trait is characteristics that give someone their individuality. However, not much clarity has been given if personality trait participates in the business success as well. Business success which is defined as the accomplishment of the venture goals that was initially set by the entrepreneur , like the financial stability (Farrington, 2012).
The role of higher education in entrepreneurship development Entrepreneurship, one of the concepts that has been used in social disciplines for a long time, is one of the most researched topics in the literature. Entrepreneurship is a multidimensional phenomenon and an important element of economic development; in this respect, the issue of developing the entrepreneurship more effectively emerges. The most commonly debated question in the research on entrepreneurship is probably why some individuals are entrepreneurs while the others are not. Numerous studies on business creation suggest that individual differences are the basic reason underlying the question why some individuals actively go for establishing their own businesses while the
Introduction Among the emerging entrepreneurs in recent years, it is noticeable that some of them are more successful than others. Researches have suggested that besides education, personal skills and experience, personality traits could be a contributor to their success. For example, the results of meta-analysis conducted by Zhao, Seibert & Lumpkin (2010) show that four of the Big Five personality dimensions (conscientiousness, openness to experience, emotional stability and extraversion) were associated with the intention to become an entrepreneur and entrepreneurial firm performance, which are critical to attainment of entrepreneurial status (Baron, 2007; Venkataraman, 1997). Besides the broadly defined Big Five personality dimensions, some
Research emphasizes the vital role of middle managers in creating an organizational climate encouraging innovation and entrepreneurship (Floyd and Woolridge, 1994; Ginsberg and Hay, 1994; Hornsby et al., 2002). According to Howell and Higgins (1990), middle managers may actively promote ideas, build support and ensure that innovative ideas are well implemented. Furthermore, Wooldridge and Floyd (1990) found a greater effect upon company performance where middle managers were involved in setting objectives and generating alternatives than when they were involved purely in the implementation side of the strategy making process. Organizational Performance, to a large extent, depends on middle managers as they involve in strategy formulation along with top management and interact with front-line supervisors to
Specifically, it aims to examine the relationship between the desire for having your own business and family business background on university students in Malaysia and their activities of entrepreneurship. Entrepreneurship can helping people to get self-employed. With regard to Northern Region university graduates in Malaysia, this study that they have strong entrepreneurial awareness and desire. The purpose of this paper is to investigate the study of the activities of entrepreneur among university student of Northern Region in Malaysia, namely the family business background, Entrepreneur education, and the interest on business. Initially, we describe the concept of student entrepreneurship related to education systems, education and the interes that lead student to the entrepreneurial
The study accentuates the consequences of team-working in the modern organizations which play a vital role in ensuing corporate entrepreneurship. However, studies also advocate that companies should not underrate individuals’ ability, and must increase impetus and autonomies to grant new opportunities. The point to success is a consolidation of individual dynamism with the interdependent spirit and group association. Besides that, a firm has the rights to change or adjust the structure of a company according to their needs as it is created to bring order and logic to company’s operations. However, the structure chosen must be coordinated to the main strategy.
Board and staff skill level Board and staff have main relation to the firm’s performance which the skill level they can reduce the agency cost through monitor the corporate governance mechanisms performance. Board and staff can influence the firm’s performance. From the previous research, (Lybaert, 1998) state that better performance is because higher level of education among board and staff .. This study shows that the relation between board and staff and firm’s performance have positive relationship. Therefore, the association of board and staff skill level and return on assets ratio have significant positive.
Strategic key points include:- Business niche ¬– A good entrepreneur can build his business by concentrating on small and key market areas by identifying areas that are been addressed poorly or not at all by other firms, and developing and delivering service to that market. Business Placement – Choosing a business location is one of the most critical decisions an entrepreneur has to make. This is achieved by considering factors like competition, local labour market and ability for future growth. 5. Proper Financing While you don’t need to be an accountant or Finance Manager to run a successful business, you should still have a good understanding of your finances, profit margins, cash flow and funding.
Understanding how entrepreneurs develop and the circumstances that can induce entrepreneurship could prove helpful both in supporting the existence of class of entrepreneurs and keeping the ranks of entrepreneurs. According to recent researches done on the top entrepreneurs in the society, most of the
The terminology uses in social entrepreneurship can be a problem because they can be used interchangeably with the terms; social entrepreneurship, social entrepreneur, social enterprise and social innovation. The social entrepreneurship means a process or behavior while a social entrepreneur is the one who form the enterprise or the one who founded and make the initiative to have a non-profit organization. The Social Entrepreneurship can be grouped into four variables: The domain of social entrepreneurship, the characteristics of individual social entrepreneurs, the object of social enterprises, and lastly the innovative approach. The identification of a proper domain of social entrepreneurship is an important issue for scholars because it can be defined in narrow and broad definitions. The sample broad definition came from the author Haugh, it states that “social enterprise is a collective term for a range of organizations that trade for a social purpose in life.