A Cambridge research team has compared the brains of successful local
managers with those of successful local entrepreneurs.
The entrepreneurs' brains were more active in the region
where "risky" and "hot" decisions are made. The Cambridge University
researchers go on to say that the type of risk-taking skills
essential for entrepreneurial success could be taught to people.
When "cold" decision-making was needed i.e. emotionally neutral
decisions with no need to weigh up rewards and punishments,
entrepreneurs and managers performed equally well.
However, when it came to "hot" or risky decisions there was a marked
difference between the two groups. In a computer gambling game test,
in which participants had to bet on the location of a token hidden in
boxes of different colours, entrepreneurs consistently invested
higher stakes. The entrepreneurs were also more impulsive and more
flexible mentally than the managers.
The local entrepreneurs tested had each founded at least two high-
tech companies and were recruited from "Silicon Fen" technology
companies around Cambridge. The managers were from both private and
public organisations. Both groups were matched up for age,
intelligence and social/educational background.
Age-related Management & Entrepreneurial Skills
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Earlier research has indicated that risk-taking declines with age and
in this study both entrepreneurs and managers had an average age in
the early 50s. The managers showed risk-taking in line with their age
group but the entrepreneurs thought and acted like people 30 years
younger.
Resources for Successful Managers & Entrepreneurs
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"Entrepreneurship is all in the mind" - a report on the Cambridge
research by the Science Editor of the Financial Times:
http://www.ft.com/cms/s/0/0114516c-b101-11dd-8915-0000779fd18c.html
How to be an Entrepreneur: The Six Secrets of Self-Made Success:
http://www.Amazon.co.uk/exec/obidos/ASIN/0273708295/sunflowerheal-21
Becoming a Successful Manager:
http://www.Amazon.co.uk/exec/obidos/ASIN/0658014897/pigdiseaseinfo0c