Reflective essay Example

  • Category:
    Business
  • Document type:
    Essay
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    1200

3ENTREPRENEURSHIP AND PSYCHOLOGY

Reflective Essay

Introduction

The aim of the essay was to establish the characteristics and personality traits that are associated with successful entrepreneurs. The test on General Enterprise Tendency (GET) enabled me to compare and contrast my personality and characteristics with those of entrepreneurs. Personality traits and characteristics are a bundle of unique aspects that define the human personality such as openness, extraversion, conscientiousness, neuroticism and agreeableness (Chell, 2008; Bridge, O’Neil & Martin, 2008). Successful entrepreneurs have in addition to the traits, some characteristics that enable them to start and manage projects. Successful entrepreneurs possess internal locus of control, calculative in risk taking, creative tendencies and highly motivated (Stokes & Wilson, 2010). The discussion will focus on characteristics that make up an enterprising person by considering their attitudes and behaviors. I will then attempt to compare and contrast the above-mentioned characteristics with my GET results to establish if I am enterprising. The essay will help me to establish if my traits match those of an enterprising person.

Discussion

People have characteristic feelings, thoughts and behaviors that constitute their personality defined by certain traits (Gitman & McDaniel, 2008). Enterprising people have traits and characteristics that enable them to establish and sustain their businesses and innovations (Storey & Greene, 2010). One engenders an enterprise if they start own business, set up community ventures or operate as an intrapreneur within an organization. A self-assessment test on the tendency to start up and manage projects offers an idea on the enterprising potential of a person (Ahmad, 2010). With increased academic debate on characteristics of enterprising people, there is an agreement that it constitutes some key characteristics such as motivation, creative tendency, calculated risk taking and locus of control (Gray, 2002). A person who is enterprising has a capacity for hard work, is energetic and highly motivated. They are highly committed, dynamic, busy, and self-driven to get work done as they yearn for autonomy and achievement as well as the desire to compete, shape and lead projects (Karami, 2007). The enterprising person sees life in a different way to others, is imaginative in solving problems and restless with ideas (Burns, 2011). The need for achievement and innovative tendencies helps them to create new processes and products and to develop ideas in organizations, projects, businesses and new technologies. Enterprising people seek information are opportunistic and evaluate the worth of engaging in a venture (Lussier, Corman & Kimball, 2014). They also have an internal locus of control hence creating their own ‘luck’ and destiny by drawing on inner resources and exerting control over life through hard work (Cuervo Ribeiro & Roig, 2007).

My overall GET score is 67 percent that shows that I may be enterprising in some contexts meaning that I have strengths in some enterprising characteristics. I am unlikely to establish growth-oriented and innovative business but will be an intrapreneur in employment or voluntary community projects. My desire for achievement is high meaning that I am oriented to the future, optimistic, results oriented, self-reliant in abilities, determined, responsible and persistent. I need to be careful in maintaining work-life balance especially my health and important relationships. My need for autonomy is low since I prefer getting advice on work management and do not enjoy taking charge of the enterprise.

The creative tendency score is medium suggesting that I prefer tested and tried enterprising ideas that fit in and straight forward in implementing my lifestyle instead of disruptive and radical innovations. Regarding calculated risk-taking, the score is high meaning that I am happy implementing tested and tried ideas that are less risky or business ideas in case my partner is taking up the risks. Locus of control score is very high inferring that though I have entrepreneurial qualities, I need to work on my enterprising skills and self-confidence to develop a successful venture. I will need to exert greater control on development of ideas by developing project management skills or specific business on areas requiring improvement. If I lack self-confidence, I may need to over-rely on others like clients or partners who are likely to drive greater business risks.

Based on academic literature, I have learned that people have different personality traits and characteristics. Moreover, I have established that one has to have a combination of certain characteristics if they would like to start and manage successful enterprises. I believe I am a successful entrepreneur given the above average GET score and higher scores on most of the variables except the need for autonomy. I feel that I may need to rely on professionals to help me take charge of my business and manage my work.

I have learned that certain personality traits are associated with successful entrepreneurs such as high motivation, energy, passion, restless with ideas, taking on risks and having internal self-control through self-confidence and entrepreneurial skills.

I am contended with the fact that my need for achievement is high which is associated with successful entrepreneurs. The GET test has shown that I am entrepreneurial but in the sense of an intrapreneur evidenced in employment and community projects. However, the results have also shown that I may not be self-confident to manage an enterprise or work which contrasts with the traits and characteristics of successful entrepreneurs. I think that the traits and personalities obtained from the GET scores have shown that I am capable of becoming a successful entrepreneur. I may need to work on my autonomy to take responsibilities and manage work so as to become an astute entrepreneur. I have learned that personality traits and characteristics associated with successful entrepreneurs point on the high scale of the variables in the GET scale.

Conclusion

The aim of the essay was to establish the characteristics and personality traits that are associated with successful entrepreneurs and also if my traits and characteristics mirror those of entrepreneurs. The GET scores have shown that I have entrepreneurial tendencies associated with successful entrepreneurs, based on the high GET score of 67 percent and high scores on the individual variables such as need for achievement, locus of control, creative tendency and calculated risk taking. The test also shows that I have not scored high in the need for autonomy and maintain healthy relationships and work-life balances. Overall, I have the traits and characteristics of a successful entrepreneur.

Reference list

Ahmad HM 2010, Personality traits among entrepreneurial and professional CEOs in SMEs. International Journal of Business and Management, 5 (9): 203-213.
Burns P 2011, Entrepreneurship and Small Business, 3rd ed. London: Palgrave.
Bridge S O’Neil K & Martin F 2008, Understanding Enterprise: entrepreneurship and Small Business, 3rd ed. London, Palgrave.
Chell E 2008, The Entrepreneurial Personality, 2nd ed. Hove, East Sussex, Routledge.

Cuervo A Ribeiro D Roig S 2007, Entrepreneurship: Concepts, Theory and Perspective, Springer Science & Business Media.

Gitman L & McDaniel C 2008, The Future of Business: The Essentials, Cengage Learning.

Gray C 2002, Enterprise and Culture, Routledge.

Karami A 2007, Strategy Formulation in Entrepreneurial Firms, Ashgate Publishing, Ltd.
Lussier RN Corman J & Kimball D 2014, Entrepreneurial New Venture Skills, Routledge.

Stokes D & Wilson N 2010, Small Business Management and Entrepreneurship.6th ed. and over: Cengage Learning.
Storey DJ & Greene FJ 2010, Small Business and Entrepreneurship. Harlow: Pearson Education.