Wednesday, November 23, 2011

Entrepreneurship and Personality Traits

Several Academics had investigated the relationship between Entrepreneurship and Personality Traits.

Some papers:
The Entrepreneur's General Personality Traits and Technological Developments.
Which Big-Five personality traits drive entrepreneurial failure in highly innovative industries?
Entrepreneurial tendencies of aspiring human resources in India: a multivariate analysis

and the Founder Institute has conducted a battery of proprietary personality and aptitude tests on over 3,000 applicants worldwide, and then carefully tracked the progress of (their) nearly 1,000 enrolled founders and 350 graduates. "The research shows that an older age is actually a better predictor of entrepreneurial success, and that three other traits also correlate strongly to success: strong fluid intelligence, high openness, and moderate agreeableness."

but the Big 5 to assess personality is good for orientative purposes and not good enough for predictive purposes.
"Because the Big Five groups the more specific primary-level factors, feedback organized around the five Global Factor scales is more easily understood. For detailed feedback or predictive purposes, one should assess the more specific primary factors. Research has shown that more specific factors like the primary scales of the 16PF Questionnaire predict actual behavior better than the Big 5 Global Factors. For example, one extravert (a bold, fearless, high-energy type) may differ considerably from another (a sweet, warm, sensitive type), depending on the extraversion-related primary scale score patterns, so deeper analysis is typically warranted." Extracted from the 16PF5 Manual

paper using the 16PF
Creativity among entrepreneurship students: comparing engineering and business education

Moreover prospective entrepreneurs score different from prospective managers / businessmen / businesswomen.
Prospective entrepreneurs mostly score VERY LOW in some specific variables I and M and VERY HIGH in E, Q1 and Q2, like this 16PF5 personality pattern

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