Personality Traits And Entrepreneuriation

2.3.2 Personal Trait

There is so much definition of personality trait, such as personal trait can be defined as an individual’s behavior towards others, attitude, characteristics, mindset makes his personality. But based on previous researches, I found that Allport in 1961 defined it as the dynamic organization within the individual of those psychophysical systems that determine his characteristic behavior and thought. While, other researchers defined it as it is the characteristics or blend of characteristics that prepare a person unique (Weinberg & Gould, 1999).

Following Shaver & Scott in 1991, it was already established that there is intriguing between Personality Traits and Entrepreneurial Intention, but imperfect predictors of many aspects

Invention is the execution of creative inspiration. The National Innovation Initiative (NII) defines innovation as “the inter-section of invention and insight, guiding to the creative of social and economic value” Innovation is “value” – the creation of value adding value to customer’s satisfaction- “delighting the customers”. Invention is the cornerstone of all competitive advantages, the means of anticipating and meeting customer’s needs and the method of utilization of technology. Invention is the successful development of competitive advantage and as such, it is the key to entrepreneurship. The entrepreneurs are the “dreamers”, who conduct hands on responsibility for creating innovation. It is the presence of innovation that distinguishes the entrepreneur from others. Innovation, must therefore, increase competitiveness through efforts aimed at the rejuvenation, renewal, and redefinition of organizations, their markets or industries, if business is to be deemed entrepreneurial (Okpara,

The previous researcher also agreed with this statement as according to Salamouris in 2013, overconfidence creates a state of mind where individuals underestimate possible dimensions of potential consequences, not because they do not value them as important, but instead because they overestimate their power to trade with those when and if the time occurs. The element of overconfidence could be playing a critical role in the decision-making process. The Salamouris also stated that the overconfidence among economic entrepreneurs has been documented by Cooper in 1988. However, overconfidence can cause negative impact to a company such as overinvestment. There is a good and bad side of overconfident. For a short period of time, it can reduce the probability for a firm to fail as the entrepreneur will turn down to give up even when it is the very rational decision, but yet it increases the chance of failure in the long-run (Everett and Fairchild,