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Features of Successful Entrepreneurs in Estonia

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  • Tiit Elenurm

    ()
    (Estonian Business School)

  • Ruth Alas

    ()
    (Estonian Business School)

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    Abstract

    This paper is based on the E-World research programme focusing on international perspectives of entrepreneurship. In the first stage of this international research project, each country had to conduct focus groups in order to develop a preliminary list of traits and behavioural patterns of successful entrepreneurs. Focus groups combined with individual assessments were used for this task. The following features of successful entrepreneurs in Estonia in 2007 were pointed out most often by all categories of respondents: courage to take risks, openness to new information, flexibility, creativity and determination. Networking and acquiring capital, but also selecting the right team and following agreements were described as ways to success. The focus groups stressed some success factors that were seen as being more important for entrepreneurs operating in Estonia in 2007 than in the 1990s: broad world view, wide social network, innovativeness and creativity and lobbying within EU-related structures.

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    Bibliographic Info

    Paper provided by Tallinn School of Economics and Business Administration, Tallinn University of Technology in its series Working Papers with number 169.

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    Length: 10
    Date of creation: 2008
    Date of revision:
    Publication status: Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 21-30
    Handle: RePEc:ttu:wpaper:169

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    Keywords: entrepreneur; personality traits; image of entrepreneurship; entrepreneurial features; focus groups; business environment; networking; entrepreneurship training;

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    1. Sarasvathy, D. K. & Simon, Herbert A. & Lave, Lester, 1998. "Perceiving and managing business risks: differences between entrepreneurs and bankers," Journal of Economic Behavior & Organization, Elsevier, vol. 33(2), pages 207-225, January.
    2. Morris, Michael H. & Paul, Gordon W., 1987. "The relationship between entrepreneurship and marketing in established firms," Journal of Business Venturing, Elsevier, vol. 2(3), pages 247-259.
    3. Witt, Ulrich, 1998. "Imagination and leadership - The neglected dimension of an evolutionary theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 161-177, April.
    4. Urve Venesaar, 2006. "Entrepreneurship and small business research in Estonia: an overview," University of Tartu - Faculty of Economics and Business Administration, in: Entrepreneurship in Estonia: policies, practices, education and research, volume 28, chapter 14, pages 270-296 Faculty of Economics and Business Administration, University of Tartu (Estonia).
    5. Kirzner, Israel M., 1978. "Competition and Entrepreneurship," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9780226437767, February.
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