Five factor model of personality Advantages and disadvantages of cognitive and trait-based entrepreneurship models. 

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SIEN6006 Entrepreneurship
Entrepreneurship and
individuals
Week 4 Workshop
Sergio Pinzon

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Today’s agenda
• “Entrepreneurship and Individuals”
• Exercise: Five factor model of personality
• Exercise: Advantages and disadvantages of cognitive
and trait-based entrepreneurship models.

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MIND MAP ACTIVITY

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Homework
You will be forming groups of 4-5 people and choosing one entrepreneur from the book "Thanks for Disrupting" or your own choice
and draw a mind map that you will be sharing with the rest of the class in a short 10 minutes presentation.
In your mind map, please include:
– A brief introduction
– Characteristics that reflect entrepreneur mindset & entrepreneurial characteristics
– Why you chose this specific entrepreneur
– A summary of their business contributions and challenges they faced
– How these entrepreneurs recognized business opportunities
– How they developed a successful business model
– What 'types' of innovation has your chosen entrepreneur engaged in? (E.g., Paradigm, Process, Product or Position)?
– What aspects of innovation has your chosen entrepreneur instigated, or developed?
– How their success can help you to develop your entrepreneurial mindset

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‘The Big Five’ factor model of personality
Neuroticism
Extraversion
Openness to Experience
Agreeableness
Conscientiousness

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Discussion
1. How can self-reflection help leaders develop a growth mindset and improve their
decision-making skills?
2. What strategies can leaders use to balance structure and flexibility in their
management approach?
3. What advantages do companies experience when they prioritize engaging
management over heroic management?
4. In what ways is managing continuity as important as managing change when it comes
to business success?
5. Why is managing continuity a critical component of long-term business growth and
sustainability?

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Managerial mindsets
Gosling & Mintzberg (2003)

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Exercise #1: Five factor model of personality
You were required to complete the five factor model of personality test (as detailed on Canvas).
From your own personal results:
• Identify one personality aspect you consider a strength and one personality aspect you consider a weakness.
• Identify examples of how these ‘strong’ and ‘weak’ personality aspects have influenced your ability to interact in the
workplace/university.
• How might these personality aspects influence your behaviour as an entrepreneur?
• What are the advantages and disadvantages of cognitive and trait-based entrepreneurship models?
• Apply the ‘five factor model of personality’ to your chosen entrepreneur for exercise #1. Which traits are they ‘strong’ in,
and which traits are they ‘weak’ in? Why do you think this?

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Admin
Assignment 2 -- discussion thread created for each workshop.
Identify the top two emerging areas you would like to be assigned
to, in order of preference, along with your full name and student
number (see the relevant Discussion threads for more details).
Please complete this task by Friday 25th August, 23:59.
Make sure you post in the Discussion thread set up for your
workshop and not in any others.
Students who do not complete this task by the deadline will be
randomly assigned to an emerging area.

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Homework: prepare for a debate

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Module 5 – Entrepreneurship and Organisations
We will:
• Discern key contextual factors which influence new venture
formation
• Identify challenges at different stages of new venture development
• Revisit and nuance our basic process model of entrepreneurship.
• Review: Canvas content; required readings
• No lecture (replaced by Canvas content)
• Reflection and preparation for our next Workshop: Detailed on Canvas

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