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Entrepreneurial Motivation
• What make people responsive to opportunity?
• What drive them to entrepreneurship?
• Answering these question entail the examination of entrepreneurial motivation
• Motivation is defined as a drive that cause a person to take some goal oriented action.
• Motivational theories are based on the idea that behavior is essentially purposeful and directed towards the attainment of certain goal.
• Thus entrepreneurial motivation is viewed as the willingness of an entrepreneur to sustain his or her entrepreneurial behavior.
Entrepreneurial Motivation
Types of Motivation
• There are two types of motivation:– Extrinsic Motivation– Intrinsic Motivation
Extrinsic Motivation
• Behaviors that are reinforced through the use of rewards that are not inherent in the activity
• e.g., praise, money, stickers, candy, etc…
• People have less interest in the task itself
• Motivation only lasts as long as the reward does
Intrinsic Motivation
• Behaviors that occur for no notable reason beyond the task itself
• They do it for the “passion of the business”
• Doesn’t have to be one or the other
• Motivation theorists have pointed out that at least three general categories of social motives as important determinant of human behavior:
• The need for achievement (n Ach)• The need for Power (n Pow)• The need for affiliation (n Aff)
Entrepreneurial Motivation
The need for achievement (n Ach)• Achievement motive - drive to do well, strive for
excellence and overcome challenges and obstacles in the pursuit of goal.
The need for Power (n Pow)• Power motive - drive to control, influence and to
have impact on others and change the situations.
The need for affiliation (n Aff)• Affiliation motive - drive to establish, maintain or
renew affective relationship with others.
Entrepreneurial Motivation
• All three motives may exist together in a person
• But one usually more dominant than the other motives for most of the individual’s actions.
Entrepreneurial Motivation
High need for achievement (high n Ach)
• High need for achievement (high n Ach) has been identified as the critical motive that influence for most of venture creation and entrepreneurship.
• Individual with high need for achievement found in most good business founder.
• Need for achievement also known as urge to improve.
High need for power (high n Pow)
• Individual with High need for power (high n Pow) normally seek position of leadership.
• They potentially to be good managers, executive or supervisors.
Need for affiliation (n Aff)
• High need for affiliation (n Aff) has mostly been associated with individual whose desire in life is to establish, maintain or renew affective relationship with others.
• They potentially to be good social workers
• As an entrepreneur the need for affiliation to certain extent may contribute to the drive for maintaining effective business networking.
Let’s Take Another Survey
• This survey will help you understand your highest and lowest motivations out of:– Power, lifestyle, creativity, status, respect, stability,
compensation, location, intellectualism, philanthropy, travel, recognition, family, self-improvement, independence
• http://testyourself.psychtests.com/testid/3153
• Answer questions – at the end select do not want to answer for personal questions