I think there are many that at first we will have to find out the different capabilities of a successful entrepreneur in comparison to a less successful one.
One way to ascertain successful entrepreneurs learning capabilities could involve examining existing research on entrepreneurial leadership capabilities that measure their growth capabilities (ability to compete in the market on a daily basis) and dynamic capabilities (ability to extend, modify or even create new substantive growth opportunities).
You may refer to an article titled 'Entrepreneurial leadership,capabilities and firm growth' by Koryak, et al (2015),International Small Business Journal , Vol. 33(1),pp. 89–105. This is available at the link-
http://journals.sagepub.com/doi/pdf/10.1177/0266242614558315
Best Wishes,
Suja R. Nair
Hi, Gudrun:
Perhaps its the perseverance and or grit---as these are important components of an overarching complex system of self-governing behaviors commonly referred to as self-regulation. Self-regulation is widely viewed as a crucial factor in the success of the individual in a wide variety of contexts, but at present we know relatively little about how the various component behaviors interact with and reinforce one another. Additionally, research probing how individuals develop self-regulatory behaviors--like grit--is in its infancy.
A recent research study (Mueller, Syed, & Wolfe,2016) investigated the antecedents of grit and finds that passion acts as an indirect antecedent of grit, with its effects mediated by two self-regulatory mechanisms: locomotion and learning goal orientation. The authors indicated that assessment has a negative relationship with grit. Additionally, they found that grit has a positive relationship with firm performance!
- Mueller, B., Syed, I., & Wolfe, M. (2016). Passion and Perseverance: How love of Work Drives Entrepreneurs to Overcome. Academy Of Management Annual Meeting Proceedings, 1.
Hope this helps!
Nadeem
Hi Gudrun,
From emerging market perspective, a key entrepreneurial trait is of " Net working " which is very crucial to success of an entreneur apart from the other five dimensions of networking orientation. Not very sure whether the same can be extended for developed markets.
Swarup Dutta
I have found in my research entrepreneurial success is largely dependent upon 5 key relationships: (1) themselves (capacity) (2) their market (relevance and penetration) (3) their product (cost and operations) (4) their understanding of business (back office, hr management, and funding, and (5) outcomes and goals (are they milestones or metrics)
The Anatomy of Digital Business Models [Jeakel 2016] describes principles for the digital business models, which involves entrepreneur relevant organizational capabilities as well:
- Startup procedures (lean startup theorie) like developmen of a mvp, slim product lifecyles, fast scaling etc.
- Culture of fault/ error tolerance represents a key component of the big players in the digital world (Amazon: Fire Phone; Alphabet: Google Glasses, Apple: Ping)
- Think big, start small, act fast: e.g. smart creatives in independent teams with their own management and competences for own decisions on product development
- Data management, you should be able to process data of physical products, design appropriate algortithms, digitalization of physical goods, context- sensitive combination of data (big data management), trading data/ information
Reference: [Jaekel 2016] Jaekel, Michael. Die Anatomie digitaler Geschäftsmodelle. Springer-Verlag, 2016.
I would suggest creativity. See the literature on entrepreneurial creativity and the debate between catching rather than creating opportunities!
- Badges
- Science topic
- Similar topics
- Social Science
- Sociology