Unlocking Entrepreneurial Success: Insights from “Motivation of R&D Entrepreneurs: Determinants of Company Success
This AI-generated image visually represents “Motivation of R&D Entrepreneurs” by Herbert A Wainer and Irwin M. Rubin. Featuring a red PDF icon, the book title, and elements of innovation, it invites you to download and explore entrepreneurial insights.
Summary of the Book
“Motivation of R&D Entrepreneurs: Determinants of Company Success,” authored by Herbert A. Wainer and Irwin M. Rubin, explores the motivations behind technical entrepreneurs and how these motivations impact the success of their companies. Published in January 1967, the book focuses on the needs for achievement, power, and affiliation of eighteen technical entrepreneurs and how these needs correlate with their companies’ performance.
Download the Book
Book Details
| Title | Motivation of R & D Entrepreneurs: Determinants of Company Success |
|---|---|
| Authors | Herbert A Wainer, Irwin M. Rubin |
| Publication Date | 1967 |
| Topics | Entrepreneurship, Success in Business |
| Publisher | [Cambridge, M.I.T.] |
| Collection | MIT Libraries, BLC, Americana |
| Contributor | MIT Libraries |
| Language | English |
| Bibliography | Leaf [18] |
| Added Date | 2008-09-04 02:48:41 |
| Associated Names | Rubin, Irwin M., 1939- |
| Call Number | 000258390 |
| Camera | Canon 5D |
| External Identifier | urn:oclc:record:1049686969 (WorldCat) |
| Foldout Count | 0 |
| Identifier | motivationofrden00wain |
| Identifier-ark | ark:/13960/t7wm1gq4h |
| Ocr Converted | abbyy-to-hocr 1.1.37 |
| Ocr Module Version | 0.0.21 |
| Open Library Edition | OL18081824M |
| Open Library Work | OL12316842W |
Key Insights
Need for Achievement (n-ach)
Entrepreneurs with a high need for achievement tend to:
- Set Moderate Goals and Manage Risks: They prefer moderate-risk tasks where they can innovate and achieve significant results. This approach ensures sustainable growth and continuous improvement.
- Seek Concrete Feedback: High achievers rely on measurable outcomes such as profits and performance metrics to gauge their success. This feedback loop helps them adjust strategies and stay on track.
“Money, to them, was the measure of success. It gave them the concrete knowledge of the outcome of their efforts that their motivation demanded”.
Need for Power (n-pow)
The need for power influences leadership styles significantly:
- Leadership Styles: The study identifies three primary leadership styles—authoritarian, democratic, and laissez-faire. Entrepreneurs with a moderate need for power often adopt a democratic leadership style, which balances authority with team involvement and results in better performance.
- Effective Influence: Those with a moderate need for power use their influence to guide their teams effectively, fostering an environment where team members feel empowered and motivated.
“Moderate need for power seems to be indicative of a democratic style of leadership. In certain situations the most effective leadership style is democratic”.
Need for Affiliation (n-aff)
While the need for affiliation does not significantly impact company performance directly, it plays a role in:
- Building Positive Relationships: Cultivating positive relationships within the team and with clients can enhance the overall work environment, indirectly boosting productivity and satisfaction.
Practical Applications
Innovation and Adaptation
Encourage a culture of innovation by setting achievable goals and providing regular feedback. Stay adaptable by continuously analyzing market trends and customer preferences.
Effective Leadership
Adopt a democratic leadership style to leverage the strengths of your team. Empower employees by involving them in decision-making processes and recognizing their contributions.
Relationship Building
Foster strong relationships with your team and customers. A positive, supportive work environment can enhance overall performance and customer loyalty.
Conclusion
“Motivation of R&D Entrepreneurs: Determinants of Company Success” by Herbert A Wainer provides valuable insights into the psychological drivers of entrepreneurial success. By understanding and applying these principles, leaders can enhance their approach to managing businesses, fostering innovation, and driving success in competitive markets. Balancing the needs for achievement and power is crucial in creating a thriving, dynamic organization.
Disclaimer: The information provided in this article is based on the findings of Herbert A. Wainer and Irwin M. Rubin. It is intended for educational purposes and should be tailored to fit the specific context and needs of individual businesses.
