Fundamentals of Management 7th Edition by Ricky Griffin

Exercise 8

Exercise Overview
Diagnostic skills enable a manager to visualize the most appropriate response to a situation. This exercise is designed to develop your diagnostic skills by asking you to think about your chances of becoming an entrepreneur.
Exercise Background
Scholars of entrepreneurship are naturally interested in the reasons why some people choose to start new businesses while other people-indeed, most people- don't. Researchers have surveyed thousands of individuals, both entrepreneurs and non-entrepreneurs, in efforts to identify some of the factors that distinguish between individuals in the two groups. Out of these hundreds of studies, some consensus has emerged. The results tell us that the following types of individuals are most likely to become entrepreneurs:
• Parents, children, spouses, or siblings of entrepreneurs
• Immigrants to the United States or the children of immigrants
• Members of the Jewish or Protestant faiths
• Professional degree holders in fields such as medicine, law, or engineering
• People who've recently experienced life-changing events, such as getting married, having a child, moving to a new city, or losing a job
Exercise Task
Considering the information above, do the following:
Choose one of the above categories and explain why this particular factor might make an individual more likely to become a business owner.