7 Behaviours of Entrepreneurial Thinking

According to a recent study, large discrepancies exist in business practices and decision- making behaviours between those who manage their own businesses and those who manage someone else’s. In the summary of findings, the following illustrates some differences in responses between the two groups with the following examples:

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		Entrepreneurial Behaviour and Management Practices	Corporate or Institutional Managerial Behaviour and Practices
1	Attitude to new situations	They are perceived opportunities in every problem situation	Every opportunity has conceived problems
2	Attitude to presence of opportunity	Let’s do what we can to make it happen	Do a cost and benefit analysis
3	Attitude to risk	If the risk is too great, find alternatives, otherwise, risk is a challenge	Risk is to be avoided, otherwise attempts  be made to reduce or eliminate the risk
4	Attitude to making a decision	Make the decision and take consequences	Sound out ideas to a few more people, call a meeting; form a task force or committee to do a study
5	Decision making behaviour	Try it out first and see what happens; if necessary, smooth out rough spots	Seek out perfect information
6	Dealing with crisis	Put out the fire first -  firefighter’s approach	Let’s find out who is responsible -  investigator’s approach
7	Action orientation	Do it before it’s too late	There are always more opportunities

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Related Article: 10 Minute Questionnaire for Coping with Self Employment

Please call Seamus Parfrey today on 021-4310266 if you need further information on entrepreneurial thinking or a free consultation.