Motivation of expansion plans of entrepreneurs and small business managers

The psychological motivations of entrepreneurs and small business managers have been studied in countries with diverse economic systems, including India, Honduras, US, Ireland, and Israel. A study reviews the previous research on locus of control (LOC) in relation to small business management and em...

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Bibliographic Details
Published in:Journal of small business management 1993-01, Vol.31 (1), p.32
Main Author: Ward, Edward A
Format: Article
Language:English
Subjects:
Business growth
Data collection
Economic conditions
Entrepreneurs
Entrepreneurship
Hypotheses
Influence
Interest rates
Managers
Motivation
Personality
Planning
Psychological aspects
Small business
Statistical analysis
Studies
Unemployment
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Summary:The psychological motivations of entrepreneurs and small business managers have been studied in countries with diverse economic systems, including India, Honduras, US, Ireland, and Israel. A study reviews the previous research on locus of control (LOC) in relation to small business management and empirically relates LOC to expansion plans of small business entrepreneurs or managers operating within an adverse economic environment. The site of the study was conducted in Genesee County, Michigan, which had the highest unemployment rate in the state and high interest rates. The results suggest that an internal LOC person is willing to plan for expansion of his small business despite high unemployment and interest rates in the immediate economic environment.
ISSN:0047-2778
1540-627X