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This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

While much of Sigmund Freud's work in psychoanalysis has long been discredited, his influence on how we perceive the internal workings of our and other minds is perhaps as strong as ever. For the unschooled in psychology, the need to understand personalities and issues in business leads to the all‐too‐easy application of what one might call “pop psychology”, that may make some kind of sense but has not necessarily been proven under the microscope of academic rigor.

This paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

This empirical study examined links between entrepreneurial personality traits and perception of new venture opportunity in a sample of 207 respondents. Four entrepreneurial personality traits were included to predict respondents℉ perception of new venture opportunity. They are (1) achievement motivation, (2) locus of control, (3) risk propensity, and (4) proactivity.The results of multiple regression analysis show that three of the four entrepreneurial personality traits‐locus of control, risk propensity, and proactivity‐related significantly to perception of new venture opportunity in expected directions. Among the three personality traits, proactivity was found to have the strongest influence over entrepreneurial perception. No significant relationship was found between achievement motivation and perception of new venture opportunity. Among six control variables, only work experience was found to influence perception of new venture opportunity. This study explored links between entrepreneurial personalities and cognition and its results suggest that a combination of trait and cognition approaches contributes to a better understanding of entrepreneurial decision-making process. Both theoretical and practical implications were discussed.

The purpose of this study is to examine gender differences in personality traits of people with and without entrepreneurial intent to assess whether women who intend to become entrepreneurs exhibit particular tendencies that can be fostered.

Participants completed an online battery of well-established questionnaires to cover a range of personality traits relevant to entrepreneurship and gender. Participants also answered items concerning intent to become an entrepreneur. A factor analysis of personality traits produced four factors (esteem and power, ambition, risk propensity and communal tendency, the latter reflecting openness and cooperation, without hubris). The authors constructed four parallel regression models to examine how gender, entrepreneurial intent and the interaction of gender with intent related to these four personality factor scores.

Participants who endorsed a desire to become an entrepreneur reported higher ambition. Women with entrepreneurial intentions endorsed higher levels of communal tendency than men with entrepreneurial intent. Those without entrepreneurial intent did not show gender differences in communal tendency.

Current findings suggest that men and women who intend to become entrepreneurs share many traits, but women with entrepreneurial intent show unique elevations in communal tendencies. Thus, a worthwhile locus for intervention into the gender disparity in self-employment would be providing space and acknowledgement of prosocial motivation and goals as one highly successful route to entrepreneurship.

Given the underused economic potential of women entrepreneurs, there is a fundamental need for a rich array of research on factors that limit and promote women’s entry into entrepreneurship. Current findings indicate that personality may be one piece of this puzzle.

Machiavellian, narcissistic, and psychopathic traits are often viewed as negative or undesirable personality traits. However, recent research demonstrates that individuals with these traits possess qualities that may be personally beneficial within the business contexts. In this chapter, we conceptualize a balanced perspective of these traits throughout the entrepreneurial process (opportunity recognition, opportunity evaluation, and opportunity exploitation) and discuss human resources management strategies that can be employed to enhance the benefits, or minimize the challenges, associated with Machiavellian, narcissistic, and psychopathic traits. Specifically, we propose that Machiavellian qualities are most beneficial in the evaluation stage of entrepreneurship, and Machiavellian, narcissistic, and psychopathic qualities are beneficial in the exploitation stage of entrepreneurship.

Reviews and describes the results of some psychological tests which have been used with entrepreneurs. The tests have been mainly employed either to explore the nature of the entrepreneur or to assess so‐called significant entrepreneurial characteristics. Key problems in the psychological testing of entrepreneurs relate to varying definitions of the entrepreneur, numerous entrepreneurial characteristics, uncertainty about the significance of entrepreneurial characteristics, and lack of rigour in test development. The results of well validated tests highlight many personality characteristics which could be correlated with characteristics of small firms and business owner‐managers. However, there have been specific measures of entrepreneurial characteristics developed in a search for a sensitive discriminating measure. Unfortunately, many of these tests have been poorly validated and this fails to supply useful information about the nature of entrepreneurs. Gives examples to illustrate some problems in psychological testing and discusses the importance of new approaches.

There is an abundance of empirical evidence on the positive effects of employment – and the detrimental effects of unemployment – on individuals’ psychological and physical health and well-being. In this chapter, the authors explore whether and how self-employment or entrepreneurship could be a solution for individuals’ (re)entry to the job market and which (psychological) variables enhance the likelihood of entrepreneurial success. Specifically, the authors first focus on unemployment and its detrimental effects for health and wellbeing, and outline the existing interventions aimed at assisting reemployment and combating the negative consequences of unemployment for individuals’ well-being. Then, the authors will explore entrepreneurship as a potential solution to unemployment and explore the psychological variables that enhance the likelihood of entrepreneurial success. One of the variables the authors highlight as particularly relevant for self-employment is the second-order construct of Psychological Capital (PsyCap; Luthans, Avolio, Avey, & Norman, 2007), as well as its individual components – hope, optimism, efficacy, and resilience. PsyCap is a malleable construct that can be successfully trained, and PsyCap interventions are inherently strength-based and have positive effects on employees’ and entrepreneurs’ performance and wellbeing. Therefore, the authors end the chapter by suggesting that a PsyCap component in existing education and training programs for entrepreneurship is likely to not only increase entrepreneurial intentions and success, but also increases participants’ well-being, self-esteem, and the general confidence they can pick up the reigns and take back control over their (professional) lives.

Since the 1950s, organizational psychology research investigating work‐related motivation has progressed from static content models to dynamic process models. Entrepreneurship research has evolved along a similar trajectory, adapting organizational psychology findings to better understand the motivation to become an entrepreneur. This paper reviews motivation research from both fields, explores some of the commonalities among current theories, and presents a new model of entrepreneurial motivation.

In an exploratory study, the ability of tolerance for risk, perceived feasibility, and perceived net desirability to predict intentions for self‐employment is examined in a sample of 114 undergraduate business students at Florida Gulf Coast University.

Results indicated that tolerance for risk, perceived feasibility and net desirability significantly predicted self‐employment intentions, with an adjusted R² of 0.528.

Because the sample consisted entirely of undergraduate business students, findings may not be generalizable to non‐student populations. This research did not examine the role of negative motivations, or “push” factors. The cross‐sectional rather than longitudinal design of the study raises the usual caveats regarding lack of causal evidence. Finally, a limitation of any survey research is the inability to ask follow‐up questions and explore in more depth the reasoning behind any finding. Future research including qualitative interviews and/or focus group sessions could therefore provide rich explanatory information that could add value to the survey data.

As a result of this research, educators, government officials, and others interested in stimulating entrepreneurial motivation should consider how their words and actions affect potential entrepreneurs’ perceptions of entrepreneurial feasibility and net desirability.

Although the model is original and unique, it is based on established theories and models. It provides a well‐supported explanation of the motivation to become an entrepreneur that will be useful to potential entrepreneurs and those who encourage and guide them.

Based on the leadership, entrepreneurship, and issue selling literature, we hypothesized that entrepreneurs who are perceived to be successful can be differentiated from unsuccessful entrepreneurs based on their degree and type of social power. We conducted a field experiment including 305 Malaysian managers with considerable experience in working with entrepreneurs and in entrepreneurial environments. Entrepreneurs perceived to be successful were ascribed greater referent, information, expert, connection, and reward power; less coercive power; and similar legitimate power than unsuccessful entrepreneurs. These results provide evidence in support of social power as a distinguishing individual characteristic of successful entrepreneurs and make a contribution to theories linking social capital with entrepreneurial success. Aspiring entrepreneurs need to be aware that their social power profile is associated with various degrees of perceived success. Our paper points to the need to investigate variables beyond personality and that are more directly relevant to social and interpersonal interactions that may differentiate entrepreneurs perceived to be successful from those who are not.

The aim of this paper is to analyze the impact of the implementation of a psychological assistance program on new entrepreneurs in a business incubator of a public university located in an emerging economy. The methodology was an intrinsic case study through qualitative approach. The findings suggest that this program had a positive impact on new entrepreneurs; it promoted a space for reflection, motivation and perseverance; it encouraged them to handle different emotions or factors to achieve its business targets. Thus, it helped them to improve the chances of success of their start-ups by learning and strengthening key psychological entrepreneurial competences.