The Psychology of Entrepreneurship

Abstract

In this review of the psychology of entrepreneurship, we first present meta-analytic findings showing that personality dimensions, such as (general) self-efficacy and need for achievement, and entrepreneurial orientation are highly associated with entrepreneurship (business creation and business success). We then discuss constructs that were developed within entrepreneurship research, such as entrepreneurial alertness, business planning, financial capital as resources, and entrepreneurial orientation, and how they can be better understood by taking a psychological perspective. Next, we elaborate how traditional psychological constructs have been utilized in entrepreneurship and how this may enhance our knowledge in industrial and organizational psychology (with respect to, for example, knowledge, practical intelligence, cognitive biases, goals and visions, personal initiative, passion, and positive and negative affect). Finally, we provide an overall framework useful for the psychology of entrepreneurship, and implications for future research.

The Specific Character Traits of Young Entrepreneurs in Slovakia

“…According to Frese and Gielnik (2014) the entrepreneurs should have several personal traits that make them capable to act as the entrepreneur, investor, marketing specialist, seller etc. Soomro and Shah (2015) in their study declare that knowledge, skills and attitudes belong to the main characteristics of the potential entrepreneurs.Sidik (2012) confirms that entrepreneurs tend to manage their businesses by using strong and specific personal qualities.…”

“…Belás at al. 2016, Deáková et al 2010, Korauš at al.2015, Frese and Gielnik, 2014, Mura and Machová, 2015, Sidik, 2012, Sharma, Bozatzis and Jain, 2011, Tu et al, 2012, Soomro and Shah, 2015, Hvide and Panos, 2014, Knőrr et al, 2013and Soininen et al, 2012, Košičiarová and Vincúrová, 2015 state that entrepreneurs have to have special personal qualities and characteristics to be successful in business. Sobeková et al (2015) along with many other authors declare that entrepreneurs and SMEs are an important part of each market economy.…”

The Most Important Attributes of Entrepreneurs. Case Study of the Environment of Czech SMEs.

“…Entrepreneurs must be capable to have the features of several personalities at once and as one person to demonstrate the ability to act as investors, inventors, accountants, dispute investigators, leaders, technologists, marketing specialists and top sellers. For this reason, the more knowledge and skills the entrepreneur is capable to demonstrate the better (Frese, Gielnik, 2014). …”

Evidências de Validade de um Inventário de Competências Empreendedoras para Empresários Juniores

“…Quais elementos psicológicos estão na base dos comportamentos ou desempenho dos empreendedores? De fato, tais questões têm sido temas recorrentes para os interessados pela Psicologia do Empreendedor (Frese & Gielnik, 2014). Dentro dessa área, alguns pesquisadores têm desenvolvido um corpo de conhecimentos que apontam, por exemplo, para questões de personalidade (Brandstatter, 2011;Zhao, Seibert, & Lumpkin, 2010), propensão a assumir riscos (Stewart & Roth, 2001), motivação (Carsrud & Brännback, 2011), entre outras dimensões ou variáveis psicológicas.…”