This paper aims to help practitioners by suggesting a conceptual method to influence and enhance critical character traits. It also serves as a foundation for future empirical studies on the same topic.
This work presents a conceptual framework designed for practical application, and it extrapolates new applications of theories authored by Bandura.
Five key entrepreneurial traits are identified based on a review of recent studies that suggest correlations with entrepreneurial intention and success. One trait, namely, self-efficacy, is the subject of a theory and empirical testing on methods to enhance it. The other four traits – including conscientiousness, a need for achievement, an internal locus of control and risk propensity – are discussed as perhaps being capable of influence through the same method.
This study is ripe for practical applications, but it invites additional empirical testing as this paper presents only a concept. The findings require viewing the constructs through a lens that – while tested and wisely accepted in the scientific community – has detractors and flaws. The biggest limitation is the application of a theory designed to change a belief to changing a personality trait.
This paper presents a practical framework for people seeking to become entrepreneurs or to enhance their success as entrepreneurs. It provides a method for enhancing one key trait – namely, self-efficacy – and it suggests applying this same strategy to other identified traits. At a minimum, it encourages an understanding and appreciation of some constructs associated with entrepreneurship.
Entrepreneurship is a socially-desirable activity. It is not only a goal for individuals but also for communities and countries who may measure their productivity in terms of jobs, money or innovation.
The paper pulls primarily from existing studies, but it presents a new theoretical framework ready for practical application and future study.
