[icon name="fa-gavel"] ChallengeOrganisations need to have a competitive edge, be innovative, and track business growth in order to thrive. Identifying employees who demonstrate entrepreneurial potential can assist organisations to develop these requirements. Being able to identify possible high-impact entrepreneurs would allow organisations to harness this talent in order to improve innovation and growth. Research indicates that there are measurable individual differences in entrepreneurial talent, such that some individuals are more successful in entrepreneurial ventures than are others. Specifically, the literature suggests that entrepreneurial differences in people consist of many facets associated with personality and risk. An enriched understanding of how personality preference and risk-taking behaviour aligns with entrepreneurial potential can assist organisations in nurturing these natural tendencies which will potentially lead to organisational growth.
[icon name="fa-clipboard"] Solution/StudyJvR Psychometrics conducted a study as part of an initiative within a South African organisation to identify possible members of an innovation team (n = 66, 80.3% women). Measures of entrepreneurial potential, personality preference, risk tolerance, and counterproductive work behaviour were assessed using the Measure of Entrepreneurial Tendencies and Abilities (META), Myers-Briggs Type Indicator® (MBTI®), Risk Type Compass (RTC), and Work Related Risk and Integrity Scale (WRISc).
[icon name="fa-line-chart" class="fa-spin"] ResultsA number of relationships were found:
- Entrepreneurial Potential was related to high Risk Tolerance.
- Entrepreneurial Potential was related to higher scores on Optimism, Emotional Stability, and Risk-Taking.
- More creative people are likely to be optimistic, challenge rules, take risks, but are also likely to take responsibility for this behaviour. However, they would be less likely to think things through carefully as they are in need of instant gratification and are not always disciplined and careful with their actions.
- More opportunistic people are likely to be emotionally stable and take risks.
- More proactive people are likely to be emotionally stable.
- People with more vision are likely to be more disciplined and deliberate in their efforts to achieve a goal.
- The most prominent results showed how personality preferences are linked to entrepreneurial potential. Significant results from independent samples t tests are presented below:
- Individuals with a preference for Extraversion tended to score higher on Total Entrepreneurial Potential and Opportunism.
- Individuals with a preference for Intuition tended to score higher on Total Entrepreneurial Potential and Creativity.
- Individuals with a preference for Thinking tended to score higher on Total Entrepreneurial Potential, Opportunism, and Proactivity.
- Individuals with a preference for Perceiving tended to score higher on Creativity.
- Temperamental differences were found, where people with NT and NF temperaments tend to score higher on Total Entrepreneurial Potential and Creativity than those with an SJ temperament.
© 2016 JvR Psychometrics (Pty) Ltd