Personality Characteristics, Work Values, and Life Styles of Fast- and Slow-Progressing Small-Scale Industrial Entrepreneurs

Abstract

Psychological variables that differentiate fast- and slow-progressing small-scale industrial entrepreneurs were studied. Twenty-two different psychosocial variables were reliably measured in 448 industrial entrepreneurs of Punjab, India. Three analyses were undertaken: intergroup comparison for the mean scores for industrial growth obtained after dichotomizing the sample at the median; comparison of the extreme 25% with highest and lowest industrial growth; correlation of the measured variables with growth in industrial productivity. Results showed that high scores on emotional stability, self-assurance, upward striving, potential for change and development, competitiveness, punctuality, hard work, tolerance for work pressure, and education were associated with a fast rate of industrial growth. Tendermindedness, guilt-proneness, anxiety, hoarding tendency, high risk-taking, and traditionality were associated with static or declining industrial growth.