Entrepreneurial Motivation Chapter 2
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Questions and Answers

What role does motivation play in the success of an entrepreneur?

  • It amplifies strengths and allows for survival in uncertain environments. (correct)
  • It helps entrepreneurs avoid risks.
  • Motivation has no impact on success.
  • It leads entrepreneurs to focus solely on financial gain.

According to Hertzberg’s Two-Factor Theory, what are the two distinct categories that influence job satisfaction?

  • Positive and negative feedback
  • Hygiene factors and motivators (correct)
  • Extrinsic and intrinsic values
  • Motivators and rewards

Which motivation theory suggests that unmet needs can hinder personal progress?

  • Douglas McGregor’s Theory Y
  • Hertzberg’s Two-Factor Theory
  • Theory X
  • Abraham Maslow’s Theory of Needs (correct)

What does Theory Y emphasize regarding job satisfaction?

<p>It promotes self-motivation and reduces need for supervision. (A)</p> Signup and view all the answers

What does Douglas McGregor's Theory X emphasize?

<p>Heightened supervision and the need for external rewards (D)</p> Signup and view all the answers

What does entrepreneurial motivation primarily involve?

<p>Achieving fortune and contributing to economic development (A)</p> Signup and view all the answers

Which of the following is NOT one of the entrepreneurial competencies listed by McBer and McClelland?

<p>Multitasking ability (A)</p> Signup and view all the answers

How does persistence manifest in an entrepreneur's behavior?

<p>By trying different methods to overcome obstacles. (B)</p> Signup and view all the answers

In Maslow's hierarchy, what is the fundamental reason humans are motivated?

<p>To fulfill their needs in hierarchical order (C)</p> Signup and view all the answers

Which of the following best describes the relationship between satisfaction and dissatisfaction in Hertzberg’s theory?

<p>They are completely independent from each other. (C)</p> Signup and view all the answers

Which characteristic allows an entrepreneur to take actions beyond job requirements?

<p>Initiative (C)</p> Signup and view all the answers

What is a key characteristic of entrepreneurs with high motivation?

<p>They are likely to pursue entrepreneurial opportunities. (B)</p> Signup and view all the answers

What does the competency of 'sees and acts on opportunities' involve?

<p>Being proactive in recognizing and seizing business opportunities. (B)</p> Signup and view all the answers

Which of the following best describes a key trait of successful entrepreneurs according to McBer and McClelland?

<p>Ability to influence others through persuasion. (B)</p> Signup and view all the answers

In the context of entrepreneurial competencies, what does 'efficiency' refer to?

<p>Maximizing outputs while minimizing inputs. (A)</p> Signup and view all the answers

Which characteristic is essential for entrepreneurs to overcome challenges and reach goals?

<p>Persistence (D)</p> Signup and view all the answers

What defines an entrepreneur's approach to overcoming obstacles?

<p>Taking repeated or different actions to overcome an obstacle (D)</p> Signup and view all the answers

How does an entrepreneur ensure they have the necessary information to address business challenges?

<p>Conducting personal research and consulting experts (C)</p> Signup and view all the answers

What reflects an entrepreneur's concern for high quality of work?

<p>Setting and pursuing standards of excellence (A)</p> Signup and view all the answers

Which behavior illustrates an entrepreneur's commitment to completing work contracts?

<p>Making personal sacrifices to finish a job (C)</p> Signup and view all the answers

What exemplifies an entrepreneur's efficiency orientation?

<p>Looking for ways to do things more quickly or at lower cost (B)</p> Signup and view all the answers

What is the primary characteristic of systematic planning by an entrepreneur?

<p>Developing logical, step-by-step plans to achieve goals (D)</p> Signup and view all the answers

Which action best demonstrates information seeking in entrepreneurship?

<p>Asking questions to clarify client or supplier needs (D)</p> Signup and view all the answers

What does concern for high quality of work indicate about an entrepreneur?

<p>They strive to produce or sell top quality products or services (B)</p> Signup and view all the answers

Which of the following is a characteristic of effective problem solving in entrepreneurs?

<p>Switching to an alternative strategy to reach a goal (B)</p> Signup and view all the answers

What is an example of self-confidence in an entrepreneur?

<p>Sticking with their judgment despite opposition (C)</p> Signup and view all the answers

Which of these behaviors exemplifies assertiveness in entrepreneurship?

<p>Confronting problems with others directly (A)</p> Signup and view all the answers

What strategy might an entrepreneur use to influence others?

<p>Using influential people as agents to accomplish objectives (C)</p> Signup and view all the answers

What does having a high achievement motivation imply for an entrepreneur?

<p>They will actively pursue clear and challenging goals (B)</p> Signup and view all the answers

How can persuasion play a role in an entrepreneur's success?

<p>It involves influencing people to support business goals (D)</p> Signup and view all the answers

Which of the following behaviors demonstrates a lack of effective planning?

<p>Ignoring critical details in project execution (B)</p> Signup and view all the answers

What is a potential consequence of not using influence strategies as an entrepreneur?

<p>Difficulty in mobilizing resources effectively (C)</p> Signup and view all the answers

Flashcards

Entrepreneurial Motivation

The drive to pursue entrepreneurial opportunities to achieve personal and economic goals.

Motivation

The process of internal and external enthusiasm and persistence to achieve goals.

Maslow's Hierarchy of Needs

A motivational theory suggesting that human needs are arranged in a hierarchical order, with basic needs needing to be met before higher-level needs can be pursued.

Herzberg's Two-Factor Theory

A theory proposing that job satisfaction and job dissatisfaction are influenced by separate factors: hygiene factors (related to dissatisfaction) and motivators (related to satisfaction).

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Theory X

A management perspective assuming that employees dislike work and require close supervision and external rewards and penalties to produce.

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Theory Y

A management perspective assuming that employees are motivated, enjoy work when given responsibility, and want meaningful contributions.

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Hygiene Factors

Factors related to job dissatisfaction, such as salary, working conditions, and company policies.

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Motivators

Factors related to job satisfaction, such as recognition, achievement, and responsibility.

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Initiative

Taking action beyond job requirements, acting fast, becoming a leader in the field.

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Sees and acts on opportunities

Recognizing and seizing new business opportunities.

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Persistence

Repeated efforts and actions to overcome obstacles and achieve goals.

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High Quality Work

Delivering work that meets high standards.

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Commitment to Work

Dedicated, loyal, and engaged in completing tasks.

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Problem Solving

Identifying and effectively addressing challenges.

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Self-confidence

Belief in one's own abilities and potential to succeed.

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Efficiency Orientation

Focusing on maximizing productivity and minimizing waste.

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Overcoming Obstacles

An entrepreneur takes repeated or different actions to overcome a significant obstacle.

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Information Seeking

Entrepreneurs actively seek information to solve problems, clarify business objectives, and achieve business goals.

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Information Seeking Actions

Examples include: personal research, consulting experts, asking questions, conducting market research, and networking.

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High Quality Work Standard

An entrepreneur sets high standards for their work, aiming for excellence and satisfaction.

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Commitment to Work Contract

Entrepreneurs prioritize finishing tasks and take full responsibility for any problems in completing a job for customers.

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Systematic Planning

Entrepreneurs create and use logical, step-by-step plans to reach goals.

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Planning Examples

Examples of systematic planning actions might include outlining steps, setting deadlines, and regularly reviewing progress.

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Planning

Breaking down large tasks into smaller, manageable steps and anticipating potential obstacles.

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Evaluating Alternatives

Analyzing different options and comparing their pros and cons to make informed decisions.

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Assertiveness

Confronting problems and issues directly and clearly communicating expectations to others.

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Persuasion

The ability to convince others to cooperate and support your goals, whether for resources, financing, or action.

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Influence Strategies

Utilizing influential people or connections to achieve business objectives.

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Motivated Entrepreneur

An entrepreneur driven by a strong desire to achieve goals and withstand the challenges of starting and running a business.

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Study Notes

Chapter 2: Entrepreneurial Motivation and Competencies

  • Chapter focuses on entrepreneurial motivation and competencies.
  • Learning Outcomes:
    • Explain key entrepreneurial motivation.
    • Explain competencies of successful entrepreneurs.

Introduction

  • Entrepreneurial success depends on commitment to the venture.
  • High motivation is crucial for pursuing entrepreneurial opportunities and processes.
  • Entrepreneurs should identify their strengths and weaknesses.
  • Motivation amplifies strengths to navigate uncertainty.

Entrepreneurial Motivation

  • Motivation is internal and external enthusiasm for achieving goals.
  • It satisfies personal needs (Gray & Starke, 1988; Robbins, Coulter, & De Cenzo, 2014).
  • Entrepreneurial motivation turns individuals into opportunity creators.
  • It leads to achieving fortune and economic development.

Motivation Theories

  • Abraham Maslow's Theory of Needs
  • Hertzberg's Two-Factor Theory
  • Douglas McGregor's Theory X and Theory Y

Abraham Maslow's Theory of Needs

  • (Hierarchy of Needs) A pyramid model.
  • Needs are arranged in order with basic needs at the bottom and self-actualization at the top. - Psychological Needs - Safety/Security Needs - Social/Belongingness Needs - Esteem Needs - Self-Actualization Needs

Theory of Needs

  • A model for understanding human behavior.
  • Humans are motivated to fulfill needs in a hierarchical order.
  • Unmet needs can hinder progress towards other needs.
  • Explains why individuals might feel unmotivated.

Hertzberg's Two-Factor Theory

  • Factors driving workplace satisfaction are different from those causing dissatisfaction.
  • Hygiene factors (e.g., company policies, supervision) prevent dissatisfaction.
  • Motivators (e.g., achievement, recognition) drive satisfaction.
  • Satisfaction and dissatisfaction are independent.

Douglas McGregor's Theory X & Theory Y

  • Theory X: Employees dislike work, avoid responsibility, require external rewards & penalties.
  • Theory Y: Employees are self-motivated, enjoy work, and are ready for responsibility.
  • Theory Y emphasizes motivation through internal factors and empowerment.
  • Theory Y suggests positive management relations.

Personal Entrepreneurial Competencies (PECS)

  • Key characteristics of successful entrepreneurs.
  • Necessary for entrepreneurial functions.
  • Competency list provided by McBer and McClelland (1985):

McClelland and McBer (1985) - Entrepreneurial Competencies

  • Initiative: Entrepreneurial actions exceeding job requirements; leading others.
  • Sees and acts on opportunities: Identifying and pursuing business opportunities.
  • Persistence: Repeated efforts to overcome obstacles in reaching goals.
  • Information seeking: Seeking information to clarify problems and achieve goals.
  • Concern for high quality of work: Meeting high standards and satisfying customers.
  • Commitment to work contract: High priority on completing work.
  • Efficiency orientation: Finding faster ways to accomplish tasks with fewer resources.
  • Systematic planning: Logical step-by-step plans to achieve goals.
  • Problem solving: Identifying, analyzing, and resolving problems.
  • Self-confidence: Strong belief in one's abilities.
  • Assertiveness: Directly confronting problems and issues.
  • Persuasion: Influencing others to achieve business goals.
  • Use of influence strategies: Utilizing influential people to reach business objectives.

Summary

  • High motivation is essential for entrepreneurial success.
  • Clear goals are fundamental for entrepreneurs.
  • Early-stage motivation is crucial for overcoming the risks of starting a business.

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Related Documents

ENT300 Chapter 2 PDF

Description

This quiz explores key concepts of entrepreneurial motivation and the competencies necessary for success in entrepreneurship. It covers theories of motivation and how they apply to entrepreneurial ventures, emphasizing the importance of internal and external enthusiasm for achieving goals. Test your understanding and discover what drives successful entrepreneurs.

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