Factors Affecting Entrepreneurial Decisions
Factors Affecting Entrepreneurial Decisions The common disposition of entrepreneurs is towards undertaking opportunities for wealth-creating and value-adding activities. Entrepreneurial qualities are thought to be innate and inborn rather than acquired through formal training. Can this be so? McClellan (1987) comparison of characteristics of entrepreneurs in developing countries of average and larger sized firms found that proactive qualities such as initiative and assertiveness, achievement orientation, and commitment are equally important complementary characteristics of successful entrepreneurs. Other expected qualities (self-confidence, persistence, persuasion, expertise) were not more characteristic of the successful. Hornaday (1982, cited in Ang and Hong 2000) documented that entrepreneurs have 42 characteristics that distinguish them from non-entrepreneurs. These include perseverance, resourcefulness, ability to take calculated risks, dynamism, and achievement orientation. To t...