Reference no: EM131548628

Question: Response Christopher

There are numerous factors that contribute to venture growth such as knowledge of finance alternatives (Seghers, Manigart, and Vanacker, 2012), efficient business plan (American Psychological Association, 1996; Barnett, 2009; Pope and Vasquez, 2005), and health care economics (Tovian, 2004). Perhaps the most important would be characteristics, motivation, and other human capital attributes of the entrepreneur (Baum and Locke, 2004). It is my personal belief that financial capital is an absolute, debt must be acquired to build an entrepreneurial venture (Kuratko, 2013); however, without motivational forces to drive the organization, the proposed venture has little means for success. The entrepreneurial traits such as motivation, often fueled by passion and confidence, will help sustain long-term success of the enterprise. For instance, according to Baum and Locke (2004) communicated vision is a direct correlate of performance. Goals, which can be directly related to vision accounts for .42, the highest bivariate correlate determined in Baum and Locke's (2004) research.