Motivations of Entrepreneurs

Entrepreneurs can be motivated solely on Profit and the prospect of growing rich. It is suggested that this type of motivation from entrepreneurs will result in them working to satisfy consumer demands in order maximise revenue, producing higher profits.

Another motivation for entrepreneurs is if they are a Satisficer, which is someone who targets a reasonable  performance rather than pushing hard for maximum success while also looking for comfort and relaxation alongside income. This in some cases can provide significant advantages over profit motivation as Satisficers are likely to enjoy their work then profit motivated entrepreneurs.

Other entrepreneurs can be motivated by ethical factors that are morally correct. As they may want produce  something useful for the community while also treating staff, suppliers and customers well. If large businesses are found to be producing products unethically, it can have harsh effects on profits if consumers do not approve it. This is why many large businesses have to have corporate responsibility, which involves taking into account fairness and considerations towards their stakeholders by behaving ethically.
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