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LECTURES FILMING ENTREPRENEURSHIPLecture 1: Who are entrepreneurs?
Why it is useful to learn about personality traits
Personality traits are dispositions to exhibit a certain kind of response across various
situations.
They influence how we behave, how we process information (i.e., potential biases),
how we make decisions, and eventually how we perform at work or in life.
They are inherited (at least 40%) and highly stable.
The dark triads
Characteristics of narcissism
An inflated view of self
Feeling superior to others
Intense desire for attention and admiration
what drives for a narcissist is admiration.
Characteristics of Machiavellianism
Strong belief in the effectiveness of manipulation
A cynical view of human nature
Lack of morality (pragmatism over principle)
what motivates a high Mach is status and power
Characteristics of psychopathy
Lack of empathy and concern for others
Lack of guilt and remorse
Impulsive and sensation-seeking
what makes a psychopath tick is thrills.
Discussion question: How accurate is it to measure one’s (dark) personality with a survey?
The development of a personality questionnaire often follows a rigorous process and
strongly grounded in theory.
There might be social desirability concerns when it comes to measuring undesirable
traits (e.g., moral compass).
When social desirability is a concern, non-invasive measures (e.g., digital footprints,
speech patterns, etc.) may be better.
Put theory into practice: identify narcissists, high machs, and psychopaths in everyday life
Narcissism
Use of I instead of we. Turn the conversation to oneself.
More photos of self or self in the center with a group on social media.
Name dropping and humble-bragging.
Machiavellianism
Demand respect and obedience to one’s rank.
Withhold or distort information.
Psychopathy
1
, Little concern for others.
Unable to control impulses.
Pathological liar.
Discussion question: Do dark triad traits lead to negative consequences only? Under what
circumstance can these traits be productive?
Narcissistic CEOs are more likely to engage in corporate social relationships (CSR). But
their motive is to look good rather than do good.
Moderately narcissistic entrepreneurs can be perceived as confident and passionate,
hence raising more money.
Individuals with high levels of Machiavellianism and narcissism are more likely to be
promoted to leadership positions.
Machiavellianism can be beneficial in a military context.
The effects of the dark triad on entrepreneurial outcomes
Entrepreneurs high in the dark triad are more likely to start business to extract value for
themselves (i.e., unproductive entrepreneurial motives).
this finding provides counterweight to our common belief that entrepreneurs are “good”
people who set out to do good things.
Among the three dark triad traits, narcissism is most related to entrepreneurial intention.
strategic implications: Decisions are made on the basis to look good and to be in the
limelight (e.g., major acquisition, unrealistic radical innovation, etc.).
HR implications: Horrible bosses (e.g., do not listen, can’t take criticism, treat others
poorly, take credits)!
Key take-aways of lecture 1
Gain insights into the influence of the dark triad on entrepreneurial motives and intention.
Understand the key characteristics of narcissism, Machiavellianism, and psychopathy.
Those who are higher on the dark triad traits tend to be attracted to
entrepreneurship and are motivated to start businesses for self-advancement.
Develop a balanced view of entrepreneurs.
Not all entrepreneurs are “good” people who set out to do good for society.
It is important to look beyond entrepreneurial promises.
There is an urgent need for better startup governance.
Lecture 2: Myths about business plans
Two schools of thoughts
1. The planning school (causation)
a. Planning improves effectiveness of human action and facilitates goal
achievement.
the premise
b. Define strategic goals and a set of alternative means to reach the goals.
2
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