The controversial role of personality traits in entrepreneurial psychology

Abstract

The usefulness of personality traits in the explanation and prediction of entrepreneurship is critically evaluated, and both contemporary theory and existing empirical findings are reviewed, emphasizing the need for conceptual clarity and methodological reform. Detailed recommendations for future research are outlined, and this critique is complemented by a detailed case study of a practical research design drawn from an ongoing project. Taken together, these provide a powerful illustration of how abstract principles can be used to inform research practices, and the underlying message emanating from this evolving body of knowledge can be used to enrich teaching materials and educational activities.

Does personality matter for small business success?

“…These studies have confirmed that further research is needed to evaluate the role of personality in relation to entrepreneurship (Llewellyn & Wilson, 2003). Similarly, calls have recently arisen to make use of comprehensive and valid psychological frameworks to investigate the relationships between a business leader's personality attributes and firm performance (Hiller & Hambrick, 2005;Cannella & Monroe, 1997).…”

“…Previous efforts to investigate the relationship between personality traits and entrepreneurship have centred on the use of narrow traits such as risk-taking, locus of control and need for achievement (Llewellyn & Wilson, 2003). These studies have confirmed that further research is needed to evaluate the role of personality in relation to entrepreneurship (Llewellyn & Wilson, 2003).…”

“…It is widely accepted that five broadly defined dimensions of personality exist. These five dimensions serve as a suitable method for classifying personality attributes and make up what is known as the five-factor model of personality Abstract (Bergner et al, 2010;Llewellyn & Wilson, 2003;Costa & McCrae, 1992;Barrick & Mount, 1991). The five-factor model of personality, often termed the 'big five' (Costa & McCrae, 1992), can be used to describe the most salient aspect of personality (Judge, Heller & Mount, 2002) and consists of five broad dimensions of personality, namely extraversion, conscientiousness, openness to experience, agreeableness and neuroticism, (Bergner et al, 2010;Cooper & Pervin, 1998).…”

Tourism students’ entrepreneurial intentions

“…The first group of researchers argues that education can improve an individual's creativity, flexibility, self-direction and ability to respond to widely variable situations and thus contribute to innovative behaviours (Llewellyn & Wilson, 2003;Rauch & Frese, 2000;Shook, Priem, & McGee, 2003). In particular, individuals with educational attainment know when, how and where to start a company (Ronstadt, 1985).…”

Personality and business performance: A case of entrepreneurs

“…In fact, personality and personality traits have increasingly been examined and used as a means of employee selection as well as employee development (Barrick and Mount, 1991;Bergner et al, 2010). Personality is defined as qualities that an individual possesses and forms his or her character (Waite and Hawker, 2009) while personality traits are the constructs that are more specific and they explain why different people behave, act and react differently (Llewellyn and Wilson, 2003).…”