Characteristics of Entrepreneur and Motivation Theories

entrepreneur
Table of Contents

MAIN BODY........................................................................................................................................3
Characteristics of entrepreneur..........................................................................................................3
Characteristics of Entrepreneur..........................................................................................................5
CONCLUSION.....................................................................................................................................6
REFERENCES......................................................................................................................................7
INTRODUCTION

Entrepreneurship is defined as converting a business idea into a successful business
model. This report is based on the case study of entrepreneur Coco Chanel in respect to its
entrepreneurship practices. Henceforth, report will emphasis on the theories entrepreneur use
for motivation. Characteristics of entrepreneur will also summarise in this project. With the
support of model theory used by entrepreneurship will be discussed to motivate itself and
other individual part of the organisation.
MAIN BODY
Characteristics of entrepreneur
Content theory of motivation
Maslow need hierarchy
Maslow need hierarchy is a model used to motivate the employees of company.
Entrepreneurship is an independent process of conducting business operations. This model
segregated needs into different parts that project physiological need, safety and security,
belongingness and love, esteem and self actualisation needs. Physiological need involve basic
need of human being that involve food, home, shelter and different other basic needs
associated with the human being. Education is another key need of the human being part of
this need. Safety and security is another key need associated with the need hierarchy model of
motivation. Coco Chanel has given a huge emphasis over meeting up the safety and security
related needs of its employees (Barber and Klauda, 2020). As an entrepreneur Coco Chanel
try to give allowances and perks to its employees in such a way that they can deal with their
safety and security related needs. Belongingness and love is another key human requirement
associated with this model. Coco Chanel has given huge emphasis over serving the best level
of corporate culture in organisation that can allow the organisation to deal with the self
belongingness of the organisation. All employees in the organisation of Coco Chanel feel to
be a part of the organisation and give equal importance in term of treatment and
belongingness in the organisation. Esteem is another key need Coco Chanel try to meet in its
entrepreneurship experience as an owner of its organisation. He has given a equal respect to
all its employees irrespective of the designated position role in the organisation. This aspect
of the personality of the entrepreneur make himself belief that every employee is important,
crucial and contribute in the overall growth and development of the organisation. Self
actualisation is also a key element of the leadership style of the Coco Chanel in respect to
motivation of its human resources. He always interacts with its employees about where they