Chapter 20: A Psychological Profile of the Latin American Entrepreneur

The objective of this study focuses on the characterization of the Latin American entrepreneurial profile from a psychological perspective. In order to do this, a journey through time was carried out in the study of the entrepreneurial subject, from the great classics to the contemporary era, the era of knowledge, innovation, technology, and revolution. In the Latin American context, the role of the entrepreneur is limited due to vulnerable institutions, corruption, populism, and socioeconomic inequity. However, the new information and communication technologies constitute an ideal route for growth in the region. The fundamental element is the psychological profile of the entrepreneur, which is made up of a set of personal characteristics, among which innovation, achievement motivation, self-efficacy, moderate propensity for risk, creativity, perseverance, proactivity, flexibility, locus of control stand out, internal, adaptability, responsibility, ability to recognize opportunities, autonomy, commitment, handling problems and managerial skills. Finally, case studies from countries such as Mexico, Peru, and Chile are presented. It is a documentary study which reflects that Latin American entrepreneurs share the same psychological attributes as those who live in developed countries. However, obstacles arising from the lack of environment and public policies are imposed on entrepreneurial activity. The culture of a country and the formative role of education can become limiting or enhancing factors; therefore, it is necessary to bet on beliefs and convictions attached to innovation, which strengthen the psychological attributes of the entrepreneurial spirit.