Introduction
The trend of online businesses or e-businesses has been growing throughout the world. Low startup cost has been among one of the most motivating factors for the entrepreneurs to setup their own e-business. The personality traits of the individual play an important role in influencing and encouraging individuals to start their own businesses. Women play an important role in any society and contribution of women in the economic development help the overall economy to improve. According to Sandhu, Sidique, & Riaz, (2011) in UAE, women are also making their mark and starting their own businesses. Sandhu, Sidique, & Riaz, (2011) have stated the contribution of women has increased in UAE as the ratio of women entrepreneurs have increased from 5.2% in 2002 to 14.7% in the year 2006, thus showing that the increasing trend of women that are starting their own businesses. This report analyzes the five personality traits of the females that have started their own businesses or female entrepreneurs in UAE. However, the main focus of the report is limited the online businesses only.
Five personality traits INFLUENCES entrepreneurs female in the UAE in e-business
There are number of factors that influence women or female entrepreneurs in setting up their own business in UAE however the focus of this research has been on the five big personality traits. These five personality traits are as follows:
Openness
Openness refer to the extent to which the intellectual creativity and curiosity of the individual (Soldz, & Vaillant, 1999). Moreover, it is also referred as how imaginative the individual is. The more imaginative and creativity the individual is (Carland, Hoy, Boulton, & Carland, 1984), the better are the chances that the individual would be able to identify the opportunities that have not been targeted by other companies and therefore it would allow the entrepreneur to capitalize on such opportunities (Barrick, & Mount, 2006). Therefore openness is an important personality factor that influences the female entrepreneurs to start their online business. On the other hand, women that are not so much imaginative might not be able to identify the opportunity and start their own business (Awadh, & Wan Ismail, 2012). Moreover, with lower creativity female entrepreneurs may not also be able to differentiate their businesses against competitors and thus this personality factor can negatively influence their online business.
Conscientiousness
Conscientiousness refers to the extent to which the individual is organized, planned and self-disciplined (Al-Anzi, 2009). The better the individual is conscientious and organized, the better it would be able to manage its online business (McClelland, 1987). Females that score high on the conscientiousness trait are more likely to be better entrepreneurs and manage their business in a better way. On the other hand, females that are not so organized may not be able to setup and manage their online business for a longer period of time.
Extraversion
Extraversion reflects the energy level of the individual and how assertive the individual is (Judge, Higgins, Thoresen, & Barrick, 2006). A highly energetic female is more likely to start and manage her own online business in comparison to a female which is not so much energetic (Brandstätter, 1997). Moreover, a highly energetic female is more likely to remain motivated than a dull female and thus a female that scores high on the extraversion trait is more likely to be a better entrepreneur (Littunen, 2000). Regarding the online business, as the competition in the online industry is very competitive, so entrepreneurs have to remain highly energetic in making sure that the success would be achieved in the long run.
Agreeableness
This personality trait refers to the friendliness of the individual and how compassionate the individual is (Seibert, & Kraimer, 2001). Being friendly is an important personality trait for the entrepreneurs (Llewellyn, & Wilson, 2003). Entrepreneurs that would be friendly in nature in dealing with employees and customers are more likely to retain them (Zhang, 2002). On the other hand, people that are not so much friendly would not be able to work with other and his personality trait would negatively influence the business (Rauch, & Frese, 2007). Thus, females that score high on agreeableness would have more chances to be successful and thus this personality trait would positively influence their online business.
Neuroticism
Neuroticism refers to the trait of the individual that how easily he is able to face unpleasant moments in the life (Komarraju, & Karau, 2005). So it can also be said as the emotional stability of the individual. It is important for entrepreneurs to remain emotionally stable (Noftle, & Shaver, 2006). Entrepreneurs have to face many unstable circumstances and therefore entrepreneurs need to be emotionally stable. Entrepreneurs that score low on neuroticism would not be able to manage their business in the longer run and their emotional instability would hurt them in the long run (Gosling, Rentfrow, & Swann, 2003). Therefore for females that are emotionally stable are more likely to be able to remain calm under pressure and unpleasant situations and thus it would result them in making better decisions.
Characteristics of Female Entrepreneurs in UAE:
According to Erogul and McCrohan (2008) there is no sufficient literature or research material is available about the factors and characteristics influencing the behavior of the female entrepreneurs in UAE. Baud and Mahgoub (1999) highlighted the personal background along with the other ownership, management, establishment, and social network related factors influencing the female entrepreneurs in UAE. Along with this Haan (2002) concluded in the research study that the best option available for the female entrepreneurs in UAE is the home based small setup as it requires less capital and financial investment. Haan (2004) also highlights key constraints faced by the female entrepreneurs in UAE.
Despite of all this research studies there has been no research conducted about the big five personality traits influencing the female entrepreneurs in UAE. For this reason the researcher will explore and investigate this topic in detail with the help of the research study based on interviews and questionnaire from the female entrepreneurs in UAE.
Conclusion
Personality traits are important as they influence how the individual would react and respond to different situations. For entrepreneur particular female entrepreneur, it is important to be creative and imaginative, organized and disciplined, energetic and motivated, friendly and emotionally stable as these are the personality traits that would lead to the success for females and these traits would positively influence the online businesses of female in UAE.
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