Psychology / Personality

Question 1

Personality

Answer 1

Dispositions to (re)act in a certain way across
Various situations

Influenced by genetics and environment, especially in childhood

Personality traits relate to broad personality factors;
e.g. temperament, motives, attitudes, beliefs etc.

Question 2

Big 5 Personality

Answer 2

Extraversion
Neuroticism
Agreeableness 
Conscientiousness 
Openness

Question 3

Entrepreneurs are more likely to have these two big 5 traits

Answer 3

high Conscientious

high Openness

Question 4

Entrepreneurs are less likely to have these two big 5 traits

Answer 4

Neuroticism

Agreeableness

Question 5

David McClelland’s Theory of Motivational Needs

Answer 5

Internal forces that push people into certain actions
All individuals are driven by 3 basic needs

Dominant needs may change over course of life

-Need for Achievement
preference for high standards desire of success

-Need for Power
Preference of having an impact, being influential, controlling others

-Need for Autonomy
Preference for making independent decisions, being in control, setting own goals

Question 6

Three Needs According to McClelland’s

Answer 6

-Need for Achievement
preference for high standards desire of success

-Need for Power
Preference of having an impact, being influential, controlling others

-Need for Autonomy
Preference for making independent decisions, being in control, setting own goals

Question 7

Generalized Attitudes and Beliefs of Entrepreneurs (3)

Answer 7

• Risk Taking Propensity
• Generalized Self-Efficacy

-Internal Locus of control
Belief that reinforcements are contingent on own behavior, capacities, attributes

Question 8

Relationship between Personality and Entrepreneurship

Answer 8

There is no deterministic relationship between
characteristics facilitating an entrepreneurial career and success

• Typical Profiles are based on average scores
• Profiles do not take into account things like manager’s role