Journal of Social Sciences and Humanities Research Fundamentals
73
https://eipublication.com/index.php/jsshrf
TYPE
Original Research
PAGE NO.
73-76
DOI
OPEN ACCESS
SUBMITED
29 January 2025
ACCEPTED
28 February 2025
PUBLISHED
31 March 2025
VOLUME
Vol.05 Issue03 2025
COPYRIGHT
© 2025 Original content from this work may be used under the terms
of the creative commons attributes 4.0 License.
Socio-Psychological
Factors of Success of
Entrepreneurial Activity
Ergasheva D.D.
Associate Professor, Tashkent State Economic University, Uzbekistan
Abstract:
Entrepreneurship is a special type of
professional activity, where its relationship with the
personality of a particular person comes to the fore, so
the development of entrepreneurship and the nature of
such development directly depend on the activity of the
subject. The effectiveness of entrepreneurial activity is
determined by the degree of its success, which implies
the presence of psychological factors that determine
this success. This fact is confirmed by the significant
interest in entrepreneurship from the side of internal,
psychological characteristics of the entrepreneur
himself.
Keywords:
Entrepreneur, motives, willingness to risk,
values, economic activity, independence, autonomy.
Introduction:
The development of entrepreneurship is
one of the necessary conditions for social well-being and
economic stability of any civilised society. The
peculiarities of entrepreneurship functioning depend on
many factors that can be divided into external and
internal. Such multidimensionality determines an
interdisciplinary
approach
in
the
study
of
entrepreneurial activity, which attracts the close
attention of sociologists, culturologists, philosophers,
economists, lawyers and psychologists.
However, entrepreneurship is a special type of
professional activity, where its relationship with the
personality of a particular person comes to the fore, so
the development of entrepreneurship and the nature of
such development directly depend on the activity of the
subject. The effectiveness of entrepreneurial activity is
determined by the degree of its success, which implies
the presence of psychological factors that determine
this success. This fact is confirmed by the significant
interest in entrepreneurship from the side of internal,
psychological characteristics of the entrepreneur
himself.
Literature analysis
Journal of Social Sciences and Humanities Research Fundamentals
74
https://eipublication.com/index.php/jsshrf
Journal of Social Sciences and Humanities Research Fundamentals
Such areas of research as the construction of a portrait
of a typical entrepreneur, identification of the
conditions of entrepreneurial career, development of
methods for assessing the entrepreneur are widely
developed in foreign psychology, such psychological
characteristics as achievement motivation (D.C.
McClelland, 1961-1965), self-reliance (internal locus
control) (J. Rotter, 1966), attitude to risk (R.H.
Brochaus, P.S. Horwitz, 1986) of entrepreneurs are
studied.
Despite the productivity of foreign experience in the
study of the psychology of entrepreneurship, direct
transfer of the obtained data is not possible, since the
domestic entrepreneur is formed in a different
economy, a different social environment, a different
way of establishing an entrepreneurial career, and
possibly other skills and abilities (I.E. Musaelian, Y.O.
Silnitsky, 1995) [5].
METHODOLOGY
The theoretical provisions devoted directly to
entrepreneurship, other aspects of entrepreneurial
activity, formation and development of personality on
the basis of entrepreneurship components were
analysed. The analysis of formative principles was
carried out, directions for analysing the formation and
development of entrepreneurial abilities were
indicated.
RESULTS
As is well known, the most important task of
entrepreneurial activity is to ensure the effective
functioning of the organisation. If someone thinks and
decides to organise his own business, he should show
a special original approach and initiative, strive for
innovation, search for non-trivial solutions, be ready to
take risks. This implies orientation to the creation of an
innovative environment, ability to attract resources.
The analysis of personal properties and orientation
(meaning the needs, interests that determine the
sustainable strategic activity) of the personality, which
make up the business activity of entrepreneurs, makes
it possible, first of all, to draw up a psychological
portrait of a successful entrepreneur, and then the
conditions for its formation and development.
The first most important personality trait or character
trait of an entrepreneur is considered to be initiative,
faith and reliance on one's inner strengths,
independence, self-discipline. Internal strengths
include intelligence - financial, emotional, social,
performance, and, of course, high creative potential.
Uncertainty of the future result is the reality of the
entrepreneur's mental state. The process of achieving
the result is always accompanied by conditions and
events that generate anxiety and fear for the success of
the case, the result of which he is not always sure.
Therefore, a distinctive feature of the entrepreneur's
behaviour is his willingness to take risks. G. Odiorne
drew attention to this peculiarity by revealing this type
of innovative behaviour. In his opinion, the strongest
tendency in the entrepreneur's behaviour is to search
for and minimise failures that cannot be foreseen with
absolute certainty. A constant situation of play and risk
accompanies his actions, no matter how much reliable
information he possesses and no matter how accurate
his calculations for the future are.
The entrepreneur acts in a situation of constant
struggle, the basis of which is the universal
contradiction between limited resources and unlimited
claims of people. The very fact of inequality in the
distribution of advantages in the competitive struggle
generates a desire to
‘equalise’ resources or minimise
the advantages of others.
It is obvious that a wide range of mental states
accompanying the actions of an entrepreneur and
corresponding to various situations and events of
constructive and destructive nature, presupposes that
he has specific mental qualities and abilities. The latter
allow him, on the one hand, to withstand extreme
stresses and, on the other hand, under conditions of
time and other resources deficit, to sustainably
structure and optimise the process of achieving the set
goal (i.e. to remain a predominantly rational being),
which is the most important motive of entrepreneurial
behaviour and manifests itself in a sociocentric type of
power.
Numerous studies devoted to the processes of
motivational determination of behaviour have allowed
us to identify some specific personal properties and
qualities that contribute to the effectiveness of its
innovative forms, including entrepreneurial behaviour.
Among them we can single out: D. McKelland's
‘achievement motivation’, J. Atkinson's propensity to
risk in situations of increasing value of results, B.
Weiner's propensity to complicate behavioural tasks in
situations of risk, and B. Weiner's internality of
behavioural tasks in situations of risk. Weiner,
internality of behavioural reactions J. Rotter [2], ability
to non-standard solution of heuristic tasks in conditions
of time deficit J. Ronen, ability to react correctly in risk
situations A. McCrimmon, stress resistance Kets de
Fries. An essential feature of the entrepreneur's
personality is also creativity, as this type of economic
behaviour, especially at the highest levels of mastery, is
saturated with creative elements that require the
application of so-called divergent thinking.
Energy resources and volitional traits of the
Journal of Social Sciences and Humanities Research Fundamentals
75
https://eipublication.com/index.php/jsshrf
Journal of Social Sciences and Humanities Research Fundamentals
entrepreneur's personality play an important role in
the activation of innovative activity, the intensity and
effectiveness of its impact on the market environment
depend on the strength and concentration of which.
The main most significant motives of entrepreneurial
activity are financial interest, achievement of high
material well-being, independence, independence in
work,
opportunities to realise their abilities
Motives of usefulness of their business and
achievement of authority among others are
represented to a much lesser extent. The obtained
results convincingly indicate the increasing role of the
factor of material well-being in the motivation of
entrepreneurial activity and its influence on the
satisfaction with its results.
The choice of entrepreneurship as a type of economic
activity, peculiarities of motivation of entrepreneurial
activity and satisfaction with it appeared in our
research
as
interrelated
socio-psychological
characteristics.
The
main,
leading
motive
for
choosing
entrepreneurship is the desire to create one's own
business, associated with systematic profit making and
self-employment, which is the central feature that
distinguishes entrepreneurship as a type of economic
activity from wage labour.
The main goal of entrepreneurship is to achieve
economic independence and autonomy and economic
success, associated, on the one hand, with the receipt
of high income, and on the other hand - with the
achievement of high material security.
At the same time, the groups of entrepreneurs, for
whom the choice of entrepreneurship is forced or
accidental, have been identified. Their distinctive
features are the greater importance of the motive of
independence and autonomy compared to the motive
of material security, lower satisfaction with
entrepreneurial activity and more pronounced
willingness to leave it.
Values and corresponding patterns and norms of
entrepreneurial behaviour
Naturally, the impulse of innovative behaviour
(including
entrepreneurial
behaviour)
is
not
implemented absolutely spontaneously, it is culturally
conditioned. [1].
The innovative effect of entrepreneurial behaviour is
determined to a large extent by the cultural standards
dominating in society, which are the basis for the
actions of economic actors (individuals, groups,
organisations). It is obvious that the entrepreneur's
consciousness, methods and means of achieving
socially significant goals are based on the system of
specific instrumental and terminal values, social
standards and patterns of behaviour that determine the
risky way of his actions, i.e. Juliann Rotter's theory of
locus of control on the subject of internalities and
externalities is meant. [2] Revealing the specificity of
values according to Rokich, it should be said that they
are differentiated into two relatively independent
classes.[6].
Terminal values are goals that are the object of
achievement. For example, making a profit, creating a
new innovative product or process.
Instrumental values are methods and means of
achieving the set goals. Instrumental values can be
abilities and other properties of a person, which are
acquired in the process of professional training or are
the result of life experience, technical and technological
means with the help of which professionally significant
tasks are solved, etc.
Of course, this differentiation of values of
entrepreneurial culture is relative, since, for example,
freedom and independence of entrepreneurial
behaviour are, on the one hand, the conditions of
activity, and on the other hand, the goals to which an
individual aspires. A stricter identification of values and
corresponding patterns and norms of entrepreneurial
behaviour allows us to build their classification, which
can be structured as follows.
Conclusions and recommendations:
In our opinion, the following characteristics are
primarily necessary for the formation of entrepreneurial
behaviour:
- purposefulness,
-ambition and ambition.
-motive to achieve success,
-sociocentric power motive,
-developed communication skills,
-initiative,
-ability to take responsibility,
-have intrinsic motivation.
The following traits also play an important role in
becoming an entrepreneur:
1.Self-motivation and commitment:
Successful entrepreneurs have a high degree of self-
motivation and clearly defined goals. They have a vivid
vision of what they want to achieve and constantly
strive towards these goals. Strong motivation enables
them to overcome challenges and obstacles, maintain
enthusiasm and keep moving forward despite setbacks.
2.Risk and Confidence:
Journal of Social Sciences and Humanities Research Fundamentals
76
https://eipublication.com/index.php/jsshrf
Journal of Social Sciences and Humanities Research Fundamentals
Entrepreneurs are willing to take risks and make
unconventional decisions. They know how to assess
risks and make decisions based on analysis and
intuition. Confidence in their abilities and skills helps
entrepreneurs to cope with uncertainty and overcome
doubts.
Tolerance for failure and the ability to learn from it:
Failures
and
mistakes
are
inevitable
in
entrepreneurship. Successful entrepreneurs treat
failure as an opportunity for growth and learning. They
are able to learn from their mistakes and adapt to new
situations.
3.Creative thinking and innovation:
Entrepreneurship requires creative thinking and the
ability to think outside the box. Successful
entrepreneurs look for new ideas, innovative
approaches and unique solutions. They are willing to
stay ahead of time and adapt to changing market
conditions.
4.Ambition.
Thus, the socio-psychological factors of successful
entrepreneurial activity
- willingness to take risks
- inclination to competitiveness and rivalry
- ambition and ambition
- physical activity and energy
- assessment of their own capabilities in increasing the
success of their business,
- positive attitude to competition,
- high assessment of their competitiveness
- high reliability of partners.
The assessment of their own capabilities, as well as the
closely related assessment of their competitiveness,
have shown themselves as central socio-psychological
characteristics of entrepreneurial activity, which are
closely related both to assessments of its procedural
aspect (the degree of business activity of
entrepreneurs and the dynamics of its change) and to
assessments of its results (success and satisfaction). At
the same time, the assessment of competitiveness is a
more
generalised,
integral
socio-psychological
characteristic of entrepreneur's business activity than
the assessment of their own capabilities. It
(assessment of competitiveness) is determined not
only by self-assessment of the entrepreneur as a
subject of business activity, but also by the assessment
of his relations with partners and competitors.
REFERENCES
D. C. McClelland. The Achieving Society.Golden Springs
Publishing,
2016.496
p.
ISBN:
1787202917,
9781787202917.
J. B. Rotter. The development and applications of social
learning theory. Praeger, ABC-CLIO, LLC,1982,367 p.
Brockhaus, R.H. and P.S. H
orwitz (1986) ‘The psychology
of the entrepreneur’, in D.L. Sexton and R.W. Smilor
(eds.) Entrepreneurship: science and art, Cambridge,
MA: Ballinger, 25-48.
Joseph Schumpeter. Theory of Economic Development.
Routledge, 320 p. eBook ISBN978131315135564.
I. Musaelian, Y. Slivnitsky. Initiative: economic
behaviour and individual choice-Moscow : Buki Vedi,
2012. - 192 p.; 22 cm; ISBN 978-5-4465-0014-7 (in per.)
Milton Rokeach. The Nature of Human Values, Free
Press, 1973.
