Podcast
Questions and Answers
What aspect of motivation is characterized by seeing and acting on opportunities and concern for high-quality work?
What aspect of motivation is characterized by seeing and acting on opportunities and concern for high-quality work?
Which definition emphasizes the unique creation of value along with the assumption of various risks by entrepreneurs?
Which definition emphasizes the unique creation of value along with the assumption of various risks by entrepreneurs?
According to Babson College, entrepreneurship is identified as being what type of approach?
According to Babson College, entrepreneurship is identified as being what type of approach?
What characteristic does Leibenstein highlight as essential for entrepreneurs?
What characteristic does Leibenstein highlight as essential for entrepreneurs?
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Which theorist suggested that an entrepreneur would only take on risks if there is a significant chance for profit?
Which theorist suggested that an entrepreneur would only take on risks if there is a significant chance for profit?
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What quality is NOT typically associated with proactive individuals in McClelland's motivation theory?
What quality is NOT typically associated with proactive individuals in McClelland's motivation theory?
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How have entrepreneurs in developing countries typically been described?
How have entrepreneurs in developing countries typically been described?
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Study Notes
McClelland's 3-Factor Theory of Motivation
- Proactive: Characterized by initiative and assertiveness.
- Achievement Orientation: Focuses on recognizing opportunities, prioritizing efficiency, high-quality work, systematic planning, and monitoring.
- Commitment to Others: Involves commitment to work contracts and recognizing the importance of business relationships.
Definitions of Entrepreneurship
- Gartner's Delphi Technique: Used to segment and define entrepreneurship.
- Solomon and Winslow (1988): An innovative person creates something unique with value, investing time and effort, and accepting financial, psychological, and social risks.
- Babson College (2008): A way of thinking and acting, focused on opportunities, holistic approaches, and balanced leadership.
- Knight (Suboda 1983): Entrepreneurs are willing to risk a new venture if they perceive a significant potential for profit.
- Leibenstein: Entrepreneurial characteristics are primarily about filling business gaps.
- Developing Countries: Entrepreneurs are often described as creative imitators.
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Description
Explore McClelland's 3-Factor Theory of Motivation and different definitions of entrepreneurship. This quiz covers key characteristics such as achievement orientation and commitment, along with various notable theories from experts. Test your understanding of these important concepts in the field of business.
