Personality Approach to Entrepreneurship Essay Example | Topics and Well Written Essays - 2000 words

Personality Approach to Entrepreneurship - Essay ExampleIn many an(prenominal) instances the interrogatory of personality assessment on entrepreneurship is defined in dichotomous terms one strand seeks to subside the type of person that is drawn towards entrepreneurship and the other identifies the specific personality characteristics that contribute to that persons success or failure. Furthermore, the changing definitions of what actually constitutes entrepreneurship are oftentimes attempted to be retrospectively established by the examining the specific personality traits of the entrepreneurs.While recent times have seen a renewed acceptance among the schoolman establishment of the relevancy of personality entrepreneurial approaches, this has been a recent change in perspective, as for many decades they had been derided as largely frivolous. In assessing the major literature related to the personal approach to entrepreneurship, this essay situates it at bottom a historical co ntext, critical analyzes contemporary approaches to the issue, and offers suggestions for future research.Even as it wasnt officially recognised as the personality approach to entrepreneurship, psychological investigations into the nature of the entrepreneur have been in existence passim the majority of the 20th deoxycytidine monophosphate. Indeed, when formulating theories on entrepreneurial economic development renowned economist Joseph Schumpeter (1935) references personality traits such(prenominal) as innovativeness, dominance, and achievement orientation. On a larger scale, economists have attributed the economic success of nations to the personality characteristics of their inhabitants (McClelland 1961). A contemporary interpretation of such formulations -- considering national moves towards globalization in the 21st century -- might consider such a theory racially biased, and it seems that indeed in the later part of the 20th century the personal approach to entrepreneursh ip took on a more specialized mode of inquiry.