Essay Example on MOTIVATIONAL INFLUENCES OF SUCCESSFUL ENTREPRENEURS

MOTIVATIONAL INFLUENCES OF SUCCESSFUL ENTREPRENEURS Chapter II REVIEW OF RELATED LITERATURE According to Krueger 2002 the word entrepreneur is derived from the French verb entreprendre which means to undertake to attempt to try in hand to contract for or to adventure to try Girard 1962 Entrepreneur has no single definition that has been acknowledge in the literature An entrepreneur is a rational decision-maker who assumes the risk and provides management for the firm Kilby 1971 but Mill 1948 states that there is a difference between entrepreneurs and managers Therefore The Webster s New World Dictionary defines the word entrepreneur as the one who organize and manages a business and carry out risks for the sake of the income Motivation is a process that provokes action maintain the activity in progress and control the arrangement of activity It is also regarded as the situation that energizes activities and lead towards a certain goal Preeti 2016 Entrepreneurial Motivation is the method that stimulate entrepreneur to make an effort into a higher level in order to achieve his her goals It is also refers to the factors that affects a particular goal persistence and behavior of an entrepreneur Preeti 2016 

According to Stefanovic 2010, there are two categories that motivate entrepreneurs and it is the Intrinsic and extrinsic motivation It is stated in his article entitled Motivational and Success Factors of Entrepreneurs The Evidence from a Developing Country that Intrinsic Motivation is about being passionate about your goal and it is a motivation that arises from within Likewise it involves engaging in a behavior

These factors are the reasons one has for behaving a certain way Business Dictionary 2016 The desire and the determination to accomplish something in spite of any obstacles that a person may encounter along the way are the two prerequisites of motivations An example is a person who began bound to an idea purely to abandon it in mid stream because it was too hard to handle With this example the person had the desire but lacked the essential determination to go through it On the contrary there are those who had the determination but lacked rightful desire to achieve the goal Sparknotes 2007 Everyone has a numerous explanation to success and way for measuring achievements For entrepreneurs it could mean something like making money and creating trustworthy customers and on having more spare time with important people in life Driver 2017 Being a successful entrepreneur means a lot than just opening new enterprise each day It means having the right viewpoint regarding the business and the willpower and perseverance to become successful Brian Armstrong 2014 Success isn't about what's in someone's pocket Instead it's a measure of life fitness for someone s emotional physical social spiritual and financial health It is also not about marketing purchasing accomplishing or getting money and becoming rich Someone is successful in a way in which he she enjoys every step while at the same time remaining motivated to try for more Barnes 2014 Intrinsic motivations are motivations that give pleasure or enjoyment being passionate about your work it encourages you to make a change in the world find personal meaning from building a business not just finding or creating money or simply doing what you love Cherry 2016 Extrinsic motivations are motivations such as getting rich having power and fulfilling parent dreams to earn a reward and to avoid punishment Cherry 2016