Need for Power: Entrepreneurial motivation
Entrepreneurial motivation is the procedure of transforming an ordinary individual to an influential businessman, who can generate opportunities and helps in maximizing wealth and economic growth. It is defined as various factors stimulate desires and activates eagerness in entrepreneurs which make them reach a particular goal.
Need for Power: Need for Power is the apprehension for influencing people or the behavior of others for moving in the selected direction and attaining the envisioned objectives. In common perception, politicians, social religious leaders Chief Executive Officers (CEOs), Government Bureaucrats/Civil Servants typify the need for power. Such a perception seems more based on the belief that the source of power lies in the “position” a person occupies in organizational / societal context. In the same vein, business ownership too may imply a need for power. Moreover, you would appreciate that the process of founding a business, one has to win the commitment of capital providers, suppliers of equipment and materials, the employees and that of the customers. Power may not be used to further one’s self- interests alone, it may be also be used to touch the lives of others, to make a difference.
Motivation makes entrepreneur by fulfilling higher level needs such as recognition, esteem, and self-actualization. Various theories explained motivation as an influencing concept, it can bring out hidden talents and creativity, and it contributes to the individual goals and society development. Entrepreneurs driven by this socialized face of the need for power. They found organizations that are a source of sustenance and self- respect for many.
