Psychological Theories

The theorie is that people become entrepreneurs primairly due to personal characteristics. These can include characteristics like

1. Need for achievement
2. Willingness to bear risk
3. Self effiacy
4. Internal focus and control
5. Tolerance for ambiguity

Determine which people become entrepreneurs. Other factors are ability to information processing, search techniques or scanning behavior. But in short:

1. Personality attributes, rather than opportunity recognition, determine who will become an entrepreneur.
2. This process depends on peoples ability ad willingness to take action

Part of: Entrepreneurial theories