Motivation and Entrepreneurship Theories

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Questions and Answers

What aspect of motivation is characterized by seeing and acting on opportunities and concern for high-quality work?

Proactive orientation
Commitment to others
Achievement orientation (correct)
Risk aversion

Which definition emphasizes the unique creation of value along with the assumption of various risks by entrepreneurs?

Gartner's segmentation of entrepreneurship
Knight's risk assessment
McClelland's theory of motivation
Solomon and Winslow's definition (correct)

According to Babson College, entrepreneurship is identified as being what type of approach?

Leadership dominated and exclusive
Opportunity obsessed and holistic (correct)
Profit-driven and singular in focus
Risk-averse and analytical

What characteristic does Leibenstein highlight as essential for entrepreneurs?

Gap filling (B) Signup and view all the answers

Which theorist suggested that an entrepreneur would only take on risks if there is a significant chance for profit?

Knight (D) Signup and view all the answers

What quality is NOT typically associated with proactive individuals in McClelland's motivation theory?

Dependency on direction (D) Signup and view all the answers

How have entrepreneurs in developing countries typically been described?

Creative imitators (D) Signup and view all the answers

Flashcards

Proactive

A personality trait where someone takes initiative and acts assertively. They're proactively engaged in achieving goals.

Achievement Orientation

A motivation driven by a desire for achievement and success. Individuals with high achievement orientation seek out challenges, focus on efficiency, and strive for high-quality work.

Commitment to Others

A personality trait where someone prioritizes building and maintaining strong relationships within a team or organization. They understand the value of collaboration.

Delphi Technique

A structured method where experts provide anonymous opinions on a specific topic, ultimately leading to a consensus.

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Entrepreneur

A person who takes a calculated risk by creating something new and valuable, devoting time and effort, and accepting financial, psychological, and social risks.

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Entrepreneurship as a way of thinking

A framework for understanding entrepreneurial thinking, characterized by a constant pursuit of opportunities, a comprehensive approach, and a balanced leadership style.

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Entrepreneurs as Gap Fillers

Entrepreneurs often bridge gaps in the market by identifying unmet needs and developing solutions to address them.

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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.