Development and success of Donald Trump
An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying significant opportunities and assembling the necessary resources to capitalize on them. (zimmerer, 2008) The underlying concept of motivation is some driving force within individuals by which they attempt to achieve some goal in order to fulfill some need or expectation. People’s behaviour is determined by what motivates them. Their performance is a product of both ability level and motivation.
Donald Trump’s Success is defined by the accomplishments people make in their lives. These accomplishments are underscored by their abilities to lead and inspire himself and others. Many theorists have pondered what characteristics and traits lead people to have such a passionate drive towards success. Donald Trump is one of these triumphant individuals, who despite adversity have accomplished unrenowned achievements. In order to understand what has made Donald successful, his approach to business, along with his personality, must be analyzed and compared to acknowledged theory.
This essay construction requires several interlocking steps. First, it attempts to synthesize some of the best literature on the subject. We shall here be concerned with the theory as presented by McClelland
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Particular goals, attitudes, and backgrounds were all important determinants of an entrepreneur’s eventual satisfaction. In that vein, on research approach examines the motivational process an entrepreneur experience. Finally, it is a synthesis of the selected entrepreneur and the review of the literature. I am trying to gain an insight into the Donald Trump from the McClelland needs theory. Here we must squarely face the questions of modeling strategy referred to above. We could identify a variety of objectives, any of which might describe the driving forces of a given entrepreneur.
Literature Review-Motivation There are many competing theories that attempt to explain the nature of motivation. Collectively, the different theories provide a framework within which to direct attention to the problem of how best to motivate staff to work willingly and effectively. Major content theories of motivation include: Maslow’s hierarchy of needs model; Alderfer’s modified need hierarchy model; Herzberg’s two-factor theory; and McClelland’s achievement motivation theory. They show there are many motives that influence people’s behavior and performance. (Mullins, 2007)
McClelland used the Thematic Apperception Test (TAT) as a tool to measure the individual needs of different people. The TAT is a test of imagination that presents the subject with a series of ambiguous pictures, and the subject is asked to develop a spontaneous story for each picture. From subsequent research McClelland identified three basic needs that people develop and acquire from the larger society-the achievement motive, the power motive and the affiliative motive. The three motives correspond, roughly, to Maslow’s self-actualisation, esteem and love needs.
First, people with a high need for achievement seek to excel and thus tend to avoid both low-risk and high-risk situations. There is a strong need for feedback as to achievement and progress, and a need for a sense of accomplishment. Besides, McClelland has also suggested that as successful entrepreneurs need to influence other people, they should possess a high need for power. This is socialized power. It is distinguished from personalized power that is characterized by satisfaction from exercising dominance over other people, and personal aggrandizement.
Finally, those with a high need for affiliation need harmonious relationships with other people and need to feel accepted by other people. High affiliative individuals prefer work that provides significant personal interaction. (NetMBA, 2009) In this theory, all motives are considered to be learned. A motive is defined as ‘the redintegration by a cue of a change in an affective situation. ‘ (Cofer, 1964) And the relative intensify of these motives varies between individuals. McClelland saw the achievement need as the most critical for the country’s economic growth and success.
The need to achieve is linked to entrepreneurial spirit and the development of available resources. In this essay it will be emphasizing on the achievement motive, although all three will be investigated. McClelland identified four characteristics of people with a strong achievement need. (Mullins, 2007) First, they prefer moderate task difficulty and goals as an achievement inventive. This provides the best opportunity of proving they can do better. If the task is too difficult or too risky, it would reduce the chances of success and of gaining need satisfaction.
If the course of action is too easy or too safe, there is little challenge in accomplishing the task and little satisfaction from success. Second, they prefer personal responsibility for performance. They like to attain success through the focus of their own abilities and efforts rather than by teamwork or chance factors outside their control. Third, achievers need regular feedback in order to monitor the progress of their achievements. Feedback enables them to determine success or failure in the accomplishment of their goals and to derive satisfaction from their activities.
Forth, they are more innovative. As they always seek moderately challenging tasks they tend always to be moving on to something a little more challenging. In seeking short cuts they are more likely to cheat. There is a constant search for variety and for information to find new ways of doing things. They are more restless and avoid routine. McClelland suggests four steps in attempting to develop achievement drive. First, they strive to attain feedback on performance. Reinforcement of success serves to strengthen the desire to attain higher performance.
Second, they develop models of achievement by seeking to emulate people who have performed well. Third, they attempt to modify their self-image and to see themselves as needing challenges and success. Forth, they control day-dreaming and thinking about themselves in more positive terms. (Mullins, 2007) McClelland’s work thus raises two interesting points. First, the theory suggests that motivation is changeable even in adulthood. Second, rather than treating motivation as an independent variable, motivation becomes a dependent variable as the focus is on the antecedent conditions that develop a particular need.
(Bowditch, 2001) Donald Trump Motivation Donald J. Trump is the very definition of the American success story. He has continually set new standards of excellence while expanding his interests in luxury residential real estate, world-class hotels, office buildings, championship golf clubs, gaming, merchandising and entertainment. Mr. Trump is committed to personal and direct involvement in everything that his name represents. This commitment has made him the preeminent developer of quality real estate known around the world.
(Evancarmichael, 2009) Donald John Trump was born June 14, 1946, in New York, NY. The third generation in a family of businessmen, Donald has his father, Fred Trump, to thank for his deal-making and entrepreneurial skills. Donald was strongly influenced by his father in his eventual goals to make a career in real estate development. With an innate eye for business and the additional training he received in school and while working for his father, Trump knew what he wanted to do with his life, and whatever it was, he knew it would be big.
(AskMen, 2009) Trump spent his high school years at the New York Military Academy, where his energetic aggression and competitiveness were encouraged. He performed well academically and socially, but he never formed close relationships because his drive to win repelled friendships. He first started college at Fordham in the Bronx, New York to be close to home. However, he later transferred to the Wharton Business School at the University of Pennsylvania. He was attracted to its focus on entrepreneurship.
Trump had transformed himself into one of the most powerful real-estate moguls of the ’80s, with ownership of buildings such as Trump Tower on 5th Av. , Trump Parc, the Plaza Hotel, and the New Jersey Generals. He also penetrated the casino business in Atlantic City and New Jersey, and transportation with the Trump Shuttle airline. Despite his knack for making deals and recognizing a good investment when he saw one, Trump’s billion-dollar empire crumbled in 1990, when he was forced into bankruptcy for over $2 billion bank loans that he couldn’t pay.
Although he handed over most of his holdings to the creditor banks, he remarkably managed to bounce back by the end of the 1990s. (Answers, 2009) One of the most remarkable things with Donald Trump is he is personally involved with everything that his name represents. He has set new standards of excellence in real estate in his luxury residential buildings, office buildings, hotels, championship golf clubs while expanding interests in gaming and entertainment.
Even Donald Trump, successful and driven as he is, has moments when he needs to refocus and consciously get motivated. In his best selling book, ‘How to Get Rich’, Donald Trump revealed a clever way to stay motivated. He keeps a box in his office crammed with newspaper clippings and letters that serve as reminders of his success to date. He can sift through the contents of the box and relive those special moments from his past. By reading newspaper and magazine articles about his achievements he can quickly and easily motivate himself to attain even bigger goals.
And by re-reading letters from people he respects he can once again enjoy their endorsement of what he does and what he has achieved. This simple act of reviewing previous successes is a powerful way to shift how you think and feel – to renew your sense of what is possible and to get you into inspired action. The more you condition your mind to focus on what you are capable of – the more of your abilities you can tap into. And when you activate more of your potential you will succeed much more often. (PHPBB, 2009)