ENTREP

• Expert script


  Highly developed, sequentially ordered knowledge in a specific field
• Expert scripts


  • They permit rapid comprehension of expertise-specific information by experts
  • They are most often acquired through extensive real-world experience
  • They dramatically improve the information processing capability of an individual
  • They can promote thinking errors such as stereotypic thinking, the inhibition of creative problem solving, and the discouragement of disconfirmation of the script in the face of discrepant information
• Knowledge organization of novices


  Topical versus contextual; organized around the literal objects explicitly apparent in a problem statement
• Knowledge organization of experts


  Organized around principles and abstractions that are not apparent in problem statements, subsume literal objects, and derive from knowledge about the application of particular subject matter
• Expert scripts


  • They have a sequential structure
  • They incorporate the norms that guide the actions of experts in their area of specialty
• Script entry


  Depends on having the necessary objects
• Script doing


  • Accomplishing the main action and achieving the purpose of the script
  • Depends on ability (possessing the rudimentary techniques and skills necessary) and willingness (propensity to act)
• Expert information processing theory


  Parallel the theoretical and empirical action thresholds that explain individual intentions to form a new venture
• New venture formation expertise


  Related to individual scripts containing the "entry" component "feasibility" and the "doing" components "ability" and "willingness"
• Discrimination among new venture formation experts and between experts and novices should be possible using the constructs of feasibility, ability, and willingness
• Motivation


  The human drive to satisfy the body's need for survival, with its highest form reflected in achievement motivation
• Survival-oriented motivation can be seen in the "necessity entrepreneur" identified in the Global Entrepreneurship Monitor (GEM) studies
• Commercially oriented entrepreneurs are working to earn money, power, prestige, and/or status, but these might not be the only "rewards" or "motivations" they are striving for
• Drive theories


  Suggest there is an internal stimulus driving the person and the individual seeks a way to reduce the resulting tension
• Incentive theories


  Emphasize the motivational pull of incentives, i.e. there is an end point in the form of some kind of goal, which pulls the person toward it
• Entrepreneurship research must bridge the wide variety of theories of motivation and tie them to environmentally oriented theories like RBV, and also have some temporal components
• Intrinsic motivation


  Refers to a personal interest in the task, e.g. achievement motivation
• Extrinsic motivation

  Refers to an external reward that follows certain behavior
• Self-determination theory

  • Identifies three inherent psychological needs that are necessary for self-motivation and personality integration: competence, relatedness, and autonomy
• The extent to which an entrepreneur's venture fulfills the needs defined by self-determination theory will contribute to their intrinsic and extrinsic motivation levels
• Entrepreneurs have often been described as being fully absorbed in their ventures and even overcommitted to the point of obsession
• Intrinsic motivation


  Motivation that comes from within, driven by internal factors
• Extrinsic motivation


  Motivation that comes from external factors
• Extrinsic and intrinsic motivations can occur together, but the primary motivator can be determined using self-determination theory (SDT)
• SDT


  Theory that defines three basic psychological needs - competence, autonomy, and relatedness - that when met, lead to intrinsic motivation
• The extent to which an entrepreneur's venture fulfills the needs defined by SDT will contribute to their intrinsic and extrinsic motivation levels
• Obsession


  Being fully absorbed in and overcommitted to one's venture
• Entrepreneurial passion


  Intrinsic motivation that drives entrepreneurs to try again even after failure
• External motivations/rewards for entrepreneurs


  • Status
  • Power
  • Social acceptance
  • Money
  • Stock options
  • Other forms of compensation
• Final motivation

  Motivation to reach a certain goal
• Instrumental motivation


  Motivation to do something that indirectly leads to a final goal
• Motivation and behavior have to be understood in the context of the individual's perception of their environment and interaction within it
• Work motivation


  Combination of internal and external factors that initiate work-related behaviors and determine their form, direction, intensity, and duration
• Work motivation is important for entrepreneurs but has been lacking in the study of entrepreneurship
• Achievement motivation (Ach)


  Motivational construct focused on the need for achievement and success
• Early research on Ach in entrepreneurship had varying results, partly due to issues with how it was operationally measured
• Work and Family Orientation Inventory (WOFO)


  • Multi-dimensional measure of Ach with sub-scales on mastery needs, work orientation, and interpersonal competitiveness - relevant for studying entrepreneurship
• Type A personality


  Extremely driven, focused, high-strung, and goal-oriented
• Type B personality


  More laid back and easygoing
• Little research has examined whether individuals with certain personality types (Type A vs Type B) end up forming different types of firms