Entre Chapter 2
The Dark Side of Entrepreneurship
- Financial Risk versus profit(return) motive varies in desire for wealth - Career Loss - Family and social risk - Psychic risk (of failure)
Sources of entrepreneurial stress
- Loneliness - Immersion in business - People problems - need to achieve
Dealing with stress
- Networking - Getting away - Communication - Satisfaction outside the company - Delegating -Exercising
Entreprenurial Ego
- Overbearing need for control - Sense of distrust - Overriding desire for success - Unrealistic externalized optimism
Ethics
- Provides the basic rules or parameters for conducting any activity in an acceptable manner - Represents a set of principles prescribing a behavioral code of what is good and right or bad and wrong - Defines "situational" moral duty and obligations
reasons for unethical behavior
- greed - survival - lack of ethics foundation - distinctions between work and home
Ethical Rationalizations used to justify questionable conduct
- its not "really" illegal or immoral - in firms best interest - no one will find out - helps the firm so firm will condone it
Sources of ethical dilemmas
- pressure from inside and outside interests - Changes in values, mores, and norms
Entrepreneurial Motivation
- the quest for a new creation as well as the willingness to sustain that venture
Entrepreneurial Mind-Set
Describes the most common characteristics associated with successful entrepreneurs as well as the elements associated with the "dark side" of entrepreneurship
Entrepreneurship Theory
E = f(e) - Entrepreneurship is a function of the entrepreneur
Entrepreneurial Persistance
an entrepreneur's choice to continue with an entrepreneurial opportunity regardless of counterinfluences
Stress and the Entrepreneur
the extent to which work demands expectations exceed their abilities to perform venture initiators, they are likely to experience stress
Ethical leadership by entrepreneurs
the value system of an owner is the key to establishing an ethical organization