Entrepreneurs should learn to interact with public authorities, marketing agencies, suppliers, distributors, and target customers. Sebestova and Lejková (2020) described how business competencies in an unstable environment should be developed. Entrepreneurs need to make decisions under risk and uncertainty to solve new problems as they appear at any time. Moreover, they should take a broad view of their activities and continually adapt their plans in response to changing conditions (Sebestova & Lejková, 2020). Thus, the impact of entrepreneurial personality and competencies on the decision to start a business is that entrepreneurs should demonstrate their skills in dealing with public authorities, marketing, distributors, and target customers.
When entrepreneurs develop the required competencies for a start-up business, they should have more than just a good business idea. According to Šebestová (2020), several factors influence entrepreneurial personality and competencies in the decision to start a business in Kuwait. Such factors include organizational culture, social norms, social ties, and other elements managers might use to influence regional and local entrepreneurs. As a result, these factors impact entrepreneurs’ decision to start a business in Kuwait since cultures differ in the degree to which they encourage individualistic activities. Social norms are measured concerning ethical values, that is, work ethic (Šebestová, 2020).
Therefore, if Kuwait fosters individualistic activities, it is more likely that people would have inclinations towards entrepreneurial activities compared to collectivistic cultures, where there is more of a focus on social networks than on the individual.
Entrepreneurial personality and competencies in the decision to start a business in Kuwait play an essential role, such as innovation and creativity, which could lead to becoming competitive in the business world. According to Amorós et al. (2021), the role of personality traits and competencies in the decision to become an entrepreneur is essential. Amorós et al. (2021) asserted that entrepreneurial success is a complex phenomenon that depends on intellectual skills (knowledge, creativity, innovativeness) and personality factors. Entrepreneurial personality is based on emotional and mental stability, self-control, competitiveness, emotional expression, sociability, vitality, and flexibility (Amorós et al., 2021). Thus, understanding the role of entrepreneurial personality in a decision to start a business in Kuwait is important to identify factors that affect entrepreneurial personality development.
Starting a business in Kuwait requires entrepreneurs to show how they work with others and what kind of company they can build. In Kuwait, entrepreneurs need to show tests of entrepreneurial personality to the VA [venture capitalists] managers to get their company requirements. Through entrepreneurial personality and competence, entrepreneurs can demonstrate their style and competencies in their business venture. According to Baker and Welter (2018), entrepreneurs need to engage in HADIT (human activity domains) model and personality tests to select the best entrepreneurial traits according to the entrepreneur’s business field or sector. Thus starting a business in Kuwait impacts entrepreneurs since they find it challenging to attract high-performing individuals who will increase organizational success.
References
Amorós, J. E., Cristi, O., & Naudé, W. (2021). Entrepreneurship and subjective well-being: Does the motivation to start-up a firm matter?Journal of Business Research, 127, 389–398. Web.
Baker, T., & Welter, F. (2018). Contextual Entrepreneurship: An Interdisciplinary Perspective. Foundations and Trends® in Entrepreneurship, 14(4), 357–426. Web.
Šebestová, J. (Ed.). (2020). Developing Entrepreneurial Competencies for Start-Ups and Small Business. IGI Global. Web.
Sebestova, J., & Lejková, M. (2020). Business Competencies Within Unstable Business Environments. Advances in Business Strategy and Competitive Advantage, 41–58. Web.