Entrepreneurship Development: Motivation theory & models

Understanding Entrepreneurship Development starts with understanding the driving forces behind it. This course delves into the core of what makes an entrepreneur tick, exploring motivation theory and key models. We'll move beyond the simple idea of economic gain and examine the deeper human elements – dignity, self-respect, values, and aspirations – that fuel entrepreneurial journeys.

The word "motivation" itself comes from the Latin "movere," meaning "to move." While simple approaches like rewards ("carrots") or punishments ("sticks") can elicit short-term action, they often lack lasting impact. True motivation involves understanding and nurturing the underlying desires of individuals. We'll explore how to effectively ascertain the motives of subordinates and help them achieve their goals – a crucial managerial function.

What Drives People to Start a Business?

Numerous studies have identified the key factors that inspire individuals to launch their own ventures. These can be broadly categorized as:

• Internal Factors:
  • Educational Background: The impact of education on entrepreneurial success.
  • Occupational Experience: How prior work experience shapes entrepreneurial paths.
  • Desire for Innovation: The urge to pioneer and create something new.
  • Independence & Freedom: The appeal of self-direction and autonomy.
  • Family Background: The influence of family history and support.
• External Factors:
  • Government Assistance: The role of governmental support in fostering entrepreneurship.
  • Financial Aid: Access to funding from institutions.
  • Technology & Resources: Availability of necessary technology and raw materials.
  • Corporate Encouragement: Support from established businesses.
  • Market Demand: The importance of a strong market for a product or service.

This course is structured into three key sections:

1. Defining the Entrepreneur: A comprehensive look at who entrepreneurs are.
2. Understanding Motivation: Exploring the psychological and emotional drivers.
3. Motivation Theories & Models: A deep dive into established frameworks for understanding and influencing motivation.