Entrepreneurial Values and Attitudes — Flashcards

Answer

Values are basic beliefs or convictions that make a person choose one mode of conduct over another. They guide actions and judgment in different situations and help shape business behaviour.

Answer

Milton Rokeach defined values as beliefs that guide actions and judgment across a variety of situations. In entrepreneurship, these beliefs influence how business decisions are made and how people beh…

Answer

Values influence the decisions of entrepreneurs and define work ethics. They help an entrepreneur choose correct conduct, maintain honesty, and build trust in business.

Answer

Values are generally learnt from family, education, religious beliefs, and other social institutes. They are also shaped by personality factors, environmental factors, and action factors.

Answer

The five main sources of values are family factors, social factors, personal factors, cultural factors, and life experience.

Answer

Life experience changes a person's value system over time. For example, a person with 40 years of experience will have a different value system compared to a person with two years of experience.

Answer

Values are deep beliefs that stay with a person for a long time. Because they are learned from family, society, culture, and experience, they are not changed easily.

Answer

The core values among entrepreneurs are honesty, reliability, respect, foresightedness, innovation and creativity, outstanding performance, and independence.