Download or read book The Difference Between Economy And Psychology Factors written by Johnny Ch LOK and published by Independently Published. This book was released on 2019-05-20 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thus, the psychological factors of attitudes, social norms and perceived behavioral control should be seen as entrepreneur personal intention predictors. Whereas the economic variables refer to external environment influence factors of intention predictors, so called background factors. As such background factors are proposed to affect intentions via the psychological factors. Thus, economic variable factors seem as predictors of attitudes and perceived behavioral control because I believe economic variable factors can be more influential to entrepreneur personal psychological attitude change how to decide to change whose activities to adapt any economic environment to do whose entrepreneurial intention behavior consequently. For example, background ( economic) factors ,such as perceived environmental dynamism ( e.g. industry opportunities) or individual skills predict corporate entrepreneurial intentions ( intentions to act entrepreneurially within existing small and newly established companies) indirectly via attitudes and perceived control , but not via social norms.Some psychological research on attitude formation identified several factors as important determinants of behavioral attitudes. For example, the entrepreneur prior behavioral experiences connected with the target behavior, either made during one's own past behavior ( comparable to human capital factors) or made via networks (comparable to social capital factors) are deemed important. Thus, the entrepreneur's positive outcome expectation of beliefs about the likely consequences of a certain behavior result in positive attitudes regarding this behavior when these consequences are valued. ( e.g. financial gains ) are comparable to expected consequences that are indeed valued . ( i.e. financial gains ) are most likely seen as something positive.Positive psychological factorsI shall indicate the psychological factors to these industries of entrepreneurs need to own, such as financial service and retail industries entrepreneurs' attitude examples as below:Firstly, in financial service industry entrepreneurs are scored the highest in agreeableness ( defined as trust, empathy, tolerance, and kindness) of the three sectors, but they were still more competitive then average for the whole sample. They were also the most emotionally stable and therefore well equipped to deal with the high-pressure nature of financial well.Secondly, in retail sale industry, retail entrepreneurs were the most extraverted of the three sectors. By contrast, entrepreneurs in finance and technology tended to be more happy in their own company, scoring significantly high average in happy feeling. Retail entrepreneurs were also less likely to take financially risky decisions and were more luck rather than in their own ability to control external events.Thus, it seems these both industry entrepreneurs need have these positive psychological factors to create whose new businesses of who want be one successful entrepreneur. So, their attitudes include these psychological characteristics, such as risk propensity, open, conscientiousness, extraversion, agreeableness, neuroticism, self-efficacy, autonomy need, autonomy attitude, initiative, innovativeness, achievement motivation, focus of control.