Breakfast seminar | Insights from award-winning research on entrepreneurship and psychology - 28 May 2024

We hosted a breakfast seminar designed for practitioners, academics, and anyone interested in the latest insights on entrepreneurship and psychology. Professor Michael Frese, this year's Global Award for Entrepreneurship Research recipient, discussed the importance of proactive behavior (Personal Initiative) for entrepreneurial success.

Start time: 2024-05-28 at 08:30

End time: 2024-05-28 at 10:00

Location: Stockholm School of Economics

This year's Global Award for Entrepreneurship Research honors Professor Michael Frese and Professor Robert Baron for their pioneering contributions to the psychological foundations of entrepreneurship. Their research addresses why some individuals embark on entrepreneurship and others do not, how entrepreneurs recognize and seize opportunities, and what factors influence their success.

We were delighted to host Professor Michael Frese at a breakfast seminar at the House of Innovation. He discussed his award-winning work, focusing on the proactive behaviors and personal initiative that drive entrepreneurial activities, significantly impacting developing and emerging economies. The session was moderated by Professor Valentina Tartari from the House of Innovation.

Professor Frese has applied a proactive, action-based approach to exploring and clarifying the origins and effects of personal initiative, self-regulated action in the entrepreneurial process, and the success factors of entrepreneurs. By engaging in multiple large-scale meta-studies, Professor Frese has successfully identified and explained the relationships between psychological factors, entrepreneurial action, and entrepreneurial success. His contributions have injected new life into the discussion surrounding personal characteristics and their role in entrepreneurship. His scholarly work has been accompanied by consistent efforts to educate and train prospective and practicing entrepreneurs, particularly in the challenging context of developing and emerging economies.

The jury's motivation

Taken from: https://www.e-award.org/award-winners/2024-robert-baron-and-michael-frese/

Focus of the seminar: How to make use of evidence-based management in entrepreneurship: The example of Personal Initiative training

In simple terms, the key to entrepreneurial success lies in being proactive rather than reactive. Professor Frese and his colleagues use the idea of Personal Initiative (PI) to describe proactive behavior. PI involves taking charge, looking ahead to identify future opportunities and challenges, and being persistent in overcoming obstacles. Research shows that being proactive significantly boosts entrepreneurial success.

Based on the concept of Personal Initiative, Professor Frese and his team developed a training program specifically for entrepreneurs. This training has been tested and proven effective through rigorous studies, including a major one in Togo with 1,500 entrepreneurs. The results showed that those who underwent the training saw a 30% increase in their profits even two years later.

This study highlights the power of evidence-based management in entrepreneurship. It demonstrates how scientific research can be applied to real-world challenges, like reducing poverty and boosting business success.

This event was organized in collaboration with the Swedish Entrepreneurship Forum. You can find more information on their work around the award here.

House of Innovation Behavioral economics Entrepreneurship Innovation Industry seminar Breakfast roundtable