Entrepreneurial Motivation

Entrepreneurial Motivation

| Scott Shane, Edwin A. Locke, Christopher J. Collins
This article discusses the importance of considering human motivation in the study of entrepreneurship. It argues that while previous research has focused on environmental factors and opportunities, it has overlooked the role of human motivation in entrepreneurial decisions. The authors suggest that motivation influences various aspects of the entrepreneurial process, including the selection of opportunities, resource assembly, and the design of exploitation mechanisms. They also identify weaknesses in previous research, such as the lack of control for opportunities and the static nature of many studies, which limit their ability to accurately measure the effects of motivation. The authors propose solutions, such as using controlled simulations, comparing entrepreneurs within the same industry, and involving third parties to evaluate opportunity value. They also emphasize the dynamic nature of entrepreneurship and the need to consider how motivation influences different stages of the process. The article reviews several motivational concepts, including need for achievement, risk-taking, tolerance for ambiguity, locus of control, self-efficacy, goal setting, independence, drive, and egoistic passion, and discusses how they may influence entrepreneurial behavior. The authors conclude that while previous research has had limitations, understanding human motivation is crucial for developing a more comprehensive theory of entrepreneurship.This article discusses the importance of considering human motivation in the study of entrepreneurship. It argues that while previous research has focused on environmental factors and opportunities, it has overlooked the role of human motivation in entrepreneurial decisions. The authors suggest that motivation influences various aspects of the entrepreneurial process, including the selection of opportunities, resource assembly, and the design of exploitation mechanisms. They also identify weaknesses in previous research, such as the lack of control for opportunities and the static nature of many studies, which limit their ability to accurately measure the effects of motivation. The authors propose solutions, such as using controlled simulations, comparing entrepreneurs within the same industry, and involving third parties to evaluate opportunity value. They also emphasize the dynamic nature of entrepreneurship and the need to consider how motivation influences different stages of the process. The article reviews several motivational concepts, including need for achievement, risk-taking, tolerance for ambiguity, locus of control, self-efficacy, goal setting, independence, drive, and egoistic passion, and discusses how they may influence entrepreneurial behavior. The authors conclude that while previous research has had limitations, understanding human motivation is crucial for developing a more comprehensive theory of entrepreneurship.
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