Psychological Factors of Entrepreneurs : exploring key personality traits of small business owners
Hannila, Ilona (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024051813121
https://urn.fi/URN:NBN:fi:amk-2024051813121
Tiivistelmä
This Thesis consists of theory information about entrepreneurship, reviewing its risk factors, how government actions are related to entrepreneurs, and what problems entrepreneurs might face in Finland during the next few years. Then followed by a literature review on psychological factors and personality traits of an entrepreneur.
The aim of this thesis is to find out what kind of psychological factors an entrepreneur needs to have and whether there is a certain psychological profile needed to be an entrepreneur in Finland. Conducting the study, it became clear how actively Finland encourages entrepreneurship and an entrepreneurial mindset.
After analyzing the answers and comparing the entrepreneur’s profile with Baum and Frese’s (2006) entrepreneur’s profile, it is clear that there is a typical psychological profile for entrepreneurs. The strongest traits were autonomy, risk-taking and need for achievement, which are usually part of entrepreneur’s definition. The more specific personality traits have a stronger relationship with business creation and success than broader personality traits. Even though there is different definitions and suggestions of what personality traits entrepreneurs have or could have, they do not determine whether someone is an entrepreneur or not.
The aim of this thesis is to find out what kind of psychological factors an entrepreneur needs to have and whether there is a certain psychological profile needed to be an entrepreneur in Finland. Conducting the study, it became clear how actively Finland encourages entrepreneurship and an entrepreneurial mindset.
After analyzing the answers and comparing the entrepreneur’s profile with Baum and Frese’s (2006) entrepreneur’s profile, it is clear that there is a typical psychological profile for entrepreneurs. The strongest traits were autonomy, risk-taking and need for achievement, which are usually part of entrepreneur’s definition. The more specific personality traits have a stronger relationship with business creation and success than broader personality traits. Even though there is different definitions and suggestions of what personality traits entrepreneurs have or could have, they do not determine whether someone is an entrepreneur or not.