1.Explain the factors that are contributing to Ann David‟s entrepreneurial behaviour. 2.Which approach/definition of entrepreneurship is depicted here? Explain. Module 2 (1) General Further research debate tends to focus on four key questions, which over recent times have become embedded in entrepreneurship literature. They ask whether entrepreneurs are: Agents central to economic development? A breed of individuals that are born not made? Formed through exposure to social influence? A combination of economic agent, born and made? These give us the following models of entrepreneurship. Economic Agent Model Many key contemporary economic writers have contributed to the development of views on the role and concept of the entrepreneur. Each approach the issue from different traditions, which results in inconsistent treatment of the role of the entrepreneur. Their initial preoccupation, which has since been questioned, was with
16 risk-taking and decision-making in conditions of uncertainty, as being fundamental to entrepreneurial behaviour. But there has been a gradual increasing awareness of the role of the entrepreneur in economic growth, with various approaches being used to explain motivation. However, there is still no agreement as to whether entrepreneurs serve an economic equilibrium or disruptive function. Born Not Made Model The perspective adopted in early studies of the origins of the entrepreneur concentrated almost entirely upon the in-born personalities and motivations of the entrepreneur. This approach assumed that the entrepreneurial flair, the ability to take risks, and the desire to create a business were inherent in the individual – that she was born with these characteristics in place. This would be exhibited in the form of personality traits. Such a trait model of behaviour argues that there exists a single trait, or cluster of traits, in the personality of the entrepreneur that differentiates her from others. Examples of genetically bound traits generally associated with entrepreneurs are presented by various authors are summarized in Table 2.1 below: Table 2.1: Genetically Bound Entrepreneurial Traits Generally Associated With Entrepreneurs # Entrepreneurial Trait 1 Alert to opportunities 2 Anxiety/Neuroticism 3 Creativity 4 Decisive 5 Easily bored 6 Flair and vision 7 Independent nature 8 Inner locus of control 9 Innovatory tendency 10 Leadership aspiration 11 Need to achieve (n Ach) 12 Risk-taking propensity 13 Self-confidence 14 Self-motivation 15 Self-realization through action 16 Versatile
17 Whether a clearly definable entrepreneurial personality actually exists remains the subject of controversy.