1. Entrepreneurial Motivation Introduction: Motivation is an indispensable function of management. Motivation encompasses complex aspects of human behavior to which contribution has been made by sociologists, psychologists, social anthropologists, and business executives. This concept has its roots in motives within a person which induce him to behave in a particular manner. Generally speaking, the concept of motivation is by and large psychological which “relates to those forces operating within the individual employee or subordinate which impel him to act or not to act in certain ways” Motivation refers to the way in which urges, drives, desires, aspirations, strivings or needs direct, control or explain the behavior of human beings.

2. This is a deep-rooted definition of Motivation. It includes: 1. The urges, drives, desires, aspirations, strivings or needs of human being influence human behavior. 2. The factors which influence human behavior – psychological , sociological or managerial. 3. The efficiency of such behavior – this may be tested by the resultant action. Whether this behavior has directed or implemented the desired action. Motivation : Process Need Behavior Target From Dissatisfaction Feed back Satisfaction

3. Process: 1. Need arises due to dissatisfaction. 2. Person is motivated to achieve 3. Target is achieved. 4. Gets satisfaction. 5. Feed back may change behavior to achieve the goal. Achievement Motivation (AM): Inner urge to achieve something; physical, power or control over others, to direct their course of activities towards the end which one seeks to attain. Entrepreneurial Motivation (EM) : 1. Need for achievement 2. Need for power 3. Self - supporting attitude 4. Growth 5. Personal achievement 6. Social achievement 7. Need for coordination

6. Johary Window Model: Others knows others Does not know others Self Knows regarding 1. Open transaction 2. Hidden ‘ self’ (self) Transaction (self) Does not know 3. Blind transaction 4.Undiscovered regarding ‘self’ (self) Transaction (self) Notes: 1. To come from no.2 to no.1, one should expose all particulars regarding ;self’.

7. 2. To come from no.3 to no.1,self should be given feed back by others. Thus, from no.2 and no.3, one can come to open self. 3. Most difficult situation is no.4, where reconciliation is difficult. A model of Entrepreneurial Motivation: The quest for new-venture creation as well as the willingness to sustain that venture is directly linked with an entrepreneurial motivation. Particular goals, attitudes, and backgrounds were all important determinants of an entrepreneur’s eventual satisfaction. In that vein, one research approach examines the motivational process an entrepreneur experiences. (Refer the figure) The decision to behave entrepreneurially is the result of several factors. Such as 1. Personal individual characteristics and environment. 2. The relevant business environment 3. Personal goal

8. 4. The existence of a viable business idea The individual compares the perception of the probable outcomes with the personal expectations in mind. An individual looks at the relationship between the entrepreneurial behavior he would implement and the expected outcomes. According to the model, expectations are finally compared with the actual or perceived firm outcomes. When outcomes meet or exceed expectations, the entrepreneurial behavior is positively reinforced, and the individual is motivated to continue to behave entrepreneurially, either within the current venture or possibly through the initiation of additional ventures, depending on the existing entrepreneurial goal. When outcomes fail to meet expectations, the entrepreneur’s motivation will be slowed down and will have a corresponding impact on the decision to continue to act entrepreneurially. These perceptions also affect succeeding strategies, implementation/management.

9. Expectation/ Intrinsic/Extrinsic outcome comparison Rewards PC PE PG PC = Personal Characteristics PC = Personal Environment PG = Personal goal BE = Business Environment Decision to behave Entrepreneurial Entrepreneurial Firm Entrepre- Strategy Management Outcomes neurially BE IDEA Implementation/ Outcomes Perception