An Investigation Into The Relationship Between The Characteristics And Life Experiences Of Entrepreneurs

Abstract

A study of 'the relationship between the characteristics and life experiences of entrepreneurs' has just been completed at the University of Derby. The four-fold purpose of this study, was to: identify and evaluate from existing literature the personal traits and characteristics of entrepreneurs and the main factors or life experiences which may affect their characteristics; identify from the authors primary research, the personal traits and characteristics of entrepreneurs; to identify from the authors primary research which factors or life experiences affect particularly the characteristics of entrepreneurs; and, finally, to assess whether there is any correlation between the characteristics and life experiences of the entrepreneurs investigated in this study and those identified by other academic studies 'tend to be rebels, outsiders, and original thinkers who take risks and break new ground, constantly on the look-out for new opportunities'. It is the belief that entrepreneurs possess a cocktail of qualities distinguishing them from the average person that has ignited the interest of economists, sociologists, psychologists and academics in understanding the entrepreneur, and resulted in a mass of information becoming available. LITERATURE REVIEW This section aims to highlight and evaluate the various traits identified with entrepreneurs, and then establish whether entrepreneurs are born with these traits, or whether, they are shaped and developed through their life experiences. Put simply the purpose of this review is to establish whether entrepreneurs are 'born or made'.

Entrepreneur's Personality, Education and Venture Effectiveness: Perceptions of Palestinian Entrepreneurs

“…These characteristics include: being sent away from home, being forced into a role of responsibility at an early age, having supportive parents, having a financially poor childhood and the type of education. The first three life experiences are significant because they "force the entrepreneur into situations that require them to overcome mental and physical fears, psychological barriers or times of extreme difficulty" (Newtone, 2002).…”

“…Researchers argue that imagination and creativity are traits unique to individuals and cannot be taught in a class room. Although there is 254 D. Elmuti, G. Khoury & B. Abdul-Rahim evidence education does have a role to play in the success of an entrepreneur, many argue (and have proven) education is not a necessity (Newtone, 2002;Kuratko, 2005).…”

Developing an entrepreneurial education in a residential college: An exploratory case study

“…al. 2002;Newton and Shreeve 2002), personal experiences (Abbott 1988;Cooper and Dunkelberg 1987;Dobrev and Barnett 2005;Ronstadt 1988), and access to instrumental personal and financial resources (Vesper 1980). Further, identifying and successfully recruiting the ideal "target market" students is clearly a daunting prospect.…”

“…There is a general understanding that the requirements of entrepreneurial education differ from the traditional business curriculum (see for example Busenitz and Barney 1997;Fiet 2000;Shane 2000;Maranville 1992). Despite considerable efforts, entrepreneurship education is often criticized for its lack of impact and efficacy (see for example Kolvereid and Moen 1997;Garavan and O'Cinneide 1994).The harshest critics argue that there is no real connection between education and entrepreneurship.The compelling concern is an underlying sense that fundamental aspects of entrepreneurship cannot be taught but instead relate to innate or idiosyncratic qualities as personality, life experiences, or even access to resources like capital or social networks (see for example Abbott 1988;Cooper and Dunkelberg 1987;Dobrev and Barnett 2005;Driessen and Zwart 1999;Kolvereid, Lars, and Moen 1997;Newton and Shreeve 2002;Ronstadt 1988;Vesper 1980). Such criticism has pushed educators to think more creatively and to be more entrepreneurial in their own approaches to program development and delivery (cf.…”