Personal characteristics affecting the propensity to partner in business
Characteristics driving formation of business alliances, partnerships and joint ventures.
The research underlying PROPAT identifies 17 different characteristics affecting an entrepreneur's propensity to enter into successful business alliances.
The first fourteen of these apply to entrepreneurs and business executives in general, whereas the last three characteristics are of particular relevance to entrepreneurs involved in family businesses.
- A willingness to change and take risks
- Acceptance of interdependence
- Trust
- Seeking absolute not relative advantage
- Long-term Commitment
- Capacity to learn
- Communication
- Coordination
- Flexibility
- Self-criticism and objective assessment of one's own contribution
- Active membership in social networks
- Awareness about alliances
- Ability to resolve conflict
- Patience
- People before structure
- Loyalty to existing members
- Thrift