Word: entrepreneurs
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Dates: during 1960-1969
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...only getting better and better. Wages are going higher, and hours are getting shorter. People have got to have a place to spend it." That is the basic business maxim of Kirk Kerkorian, the travel-and-leisure entrepreneur whose retiring manner belies the fact that in 20 years he has amassed a fortune estimated at $275 million...
...Russell Kroeker, a 28-year-old U.S. electrical engineer from Richboro, Pa., has overcome all such hurdles to be come the fastest-rising entrepreneur in Malawi, the nation created in 1964 from the British protectorate of Nyasaland...
...business entrepreneur is a very special kind of achiever. According to David C. McClelland of Harvard's Department of Social Relations, he is "more concerned with achieving success than with avoiding failure." He sees the world as neither benevolent nor malign but neutral, and he never doubts his power to hold his own in the marketplace. He is as readily bored by routine as he is challenged by risk taking - and he knows how to reckon the odds. Such a man is obviously valu able to any economy, but he is also rare. Is there a way to develop...
...test this hypothesis, which was based on McClelland's psychological studies of the personal characteristics that make a good entrepreneur, the authors decided to go to India. One reason for conducting an experiment there was that Indian commerce, still locked in the patterns and the fatalism of the past, urgently needs entrepreneurs. Another was that Indian small businessmen, who are suspicious of one another, set in their ways and resistant to change, make particularly challenging raw material. In several cities, McClelland and Winter invited local businessmen to join classes in what they called achievement motivation. Eventually, some 80 accepted...
...Epitaphs. One of the fledgling businessmen's first assignments, for example, was to compose six different answers to the question "Who am I?" These papers were later openly graded for imagination and what McClelland calls n Ach content, his shorthand for the kind of motivation that distinguishes the entrepreneur. The aim of the course was to plant "a growing conviction on the part of the person that he can change, that he can take control and direct his life." At brainstorming sessions-a Western invention that the Indian businessmen took to with great delight-they courted the notion, almost...