FUNDAMENTALS OF ENTREPRENEURSHIP ENT300

basic of entrepreneur in this topic

1. CHAPTER 2:
ENTREPRENEURIAL
MOTIVATION
AND COMPETENCIES

2. Learning Outcomes
1.Explainthekeyentrepreneurialmotivation
2.Explainthecompetenciesofsuccessfulentrepreneurs

3. INTRODUCTION
❑Successofanentrepreneurdependsonhiswillingnessto
committothethingthathedoes.
❑Entrepreneurswithhighmotivationwillpursue
entrepreneurialopportunitiestowardsentrepreneurial
processes.
❑oneshouldbeabletoidentifyhisstrengthsand
weaknesses.
❑Therefore,motivationplaysavitalfactorinamplifyinghis
strength,sohemaybeabletosurviveinthe
indeterminateenvironment.

4. ENTREPRENEURIAL MOTIVATION
❑Motivationistheprocessofinternalandexternal
enthusiasmandpersistencetopursueallefforts
towardachievinggoalstosatisfypersonalneeds(Gray
&Starke,1988;Robbins,Coulter,&DeCenzo,2014).
❑Entrepreneurialmotivationistheprocessofconverting
anindividualwhocancreatenewopportunitiesto
achievefortuneandeconomicdevelopment.

5. Motivation Theories
1.Abraham Maslow’s Theory of Needs
2.Hertzberg’s Two-Factor Theory
3.Douglas Mc Gregor’s Theory X and Theory Y

6. Abraham Maslow’s Theory of Needs

7. Hertzberg’s Two Factor Theory
Individual growth
and development
Recognition for job
Achievement
The work itself
Job advancement
Responsibility
Motivator
factors
Salary and job security
Company policies and
administration
Supervision and work
condition
Relationship with peers,
subordinates, status and
security
Hygiene
factors

8. Douglas Mc Gregor’s
Theory X and Theory Y

9. PERSONAL ENTREPRENEURIAL
COMPETENCIES (PECS)
•Keycharacteristicsthatshouldbepossessedby
successfulentrepreneurs.
•Required-toperformentrepreneurialfunctions
effectively.
•McBerandMcClelland(1985)havelistedout13
entrepreneurialcompetenciesthatmustbepossess.

10. Initiative
Sees and
Acts on
Opportunities
Persistence
Information
Seeking
Systematic
Planning
Efficiency
Orientation
Commitment
to Work
Contract
Maintaining
High Quality
Work
Problem
Solving
Self-confidence
Assertiveness
Persuasion
Use of
Influence
Strategies
McClelland and
McBer (1985)

11. SUMMARY
❑Highachievementofmotivationisnecessarytobea
successfulentrepreneur.
❑Therefore,entrepreneursneedtohavecleargoals.
❑Intheearlystageofdevelopingthebusiness,
entrepreneursmustbehighlymotivatedtofacetherisk
ofstartingtheenterprise.