COMM 320 Chapter Notes - Chapter 1-10: Problem Gambling, Nepotism, Reverse Engineering
28 Apr 2017
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Chapter 2 - the making of an entrepreneur. 4 schools of thought: 4 different approaches to entrepreneurs: traits approach, high need for achievement: Need to always achieve new bold goals. Tend to do well in competitive situations. Dislike routine activities: risk taking propensity: Willingness to take financial risks: tolerance for ambiguity: Ability to perceive ambiguity (lack of complete information uncertainty) in a positive and challenging way no fear of unknown: innovation: Ability to create new or modify existing business concepts. Collect info& seek advice from inside and outside. Calculated risks (risk-takers: high need for independence & autonomy: Want to work independently and be their (cid:498)own boss(cid:499) Don"t like to delegate or give control. Refers to entrepreneur"s belief that all events are under their control. Don"t attribute outcomes to (cid:498)fate(cid:499) or (cid:498)luck(cid:499) or external environment: internal locus of control, low need for conformity. Unhappy in environment with strict rules: intuition: Make decisions based on gut feeling or intuition.
