Individual entrepreneurial orientation: an assessment of students

As the current business environment shifts to a more community-based, local market, this gives way to many more individual start-ups and small-business ventures. With this change comes the need for an individual to assess their ability to enter the industry. This study compares personal self-esteem in relation to individual entrepreneurial orientation (IEO) levels, as well as IEO in relation to starting their own business venture in a study of 209 Pacific Northwestern university students. The items for scale are based on the entrepreneurial orientation dimensions from Lumpkin and Dess, and individual entrepreneurial orientation from Bolton and Lane, as well as the self-esteem dimensions from Heatherton and Polivy. The survey distribution resulted in a strong correlation between IEO and self-esteem, as well as starting their own business and working for themselves. Self-esteem scores did not show any direct correlation with the inclination to work for themselves, or start their own business. Measuring IEO and self-esteem scores will help individuals, teachers, investors, and firms understand a student or employee's personal orientation toward conscientiousness, openness to experience, and willingness to take risk; all characteristics that would benefit a firm and/or guide someone toward opening their own business as well as minimize the risk level of this new venture.