PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Entrepreneurs benefit more from emotional intelligence than other competencies, such as IQ

2021-01-28
(Press-News.org) Running a successful business has its challenges, but the COVID-19 pandemic has required many owners to pivot and look for new ways to operate profitably while keeping employees and consumers safe. Research from the Indiana University Kelley School of Business found that emotional intelligence - the ability to understand, use and manage emotions to relieve stress - may be more vital to a business' survival than previously thought.

"We found that entrepreneurs benefit much more from emotional competences than other competencies -- such as IQ -- due to high uncertainty and ambiguity that comes with the world of entrepreneurship and even more applicable in a crisis," said Regan Stevenson, assistant professor ?of entrepreneurship and management and the John and Donna Shoemaker Faculty Fellow in Entrepreneurship.

"Being an entrepreneur is not a 'traditional workplace setting.' If you are an entrepreneur, you know that managing your business can often feel like you are screaming alone on an emotional rollercoaster," Stevenson added. "The extreme nature of this setting makes one's ability to manage emotions and social connections critically more important, especially so during times of major disruption and crisis."

According to recent U.S. Bureau of Labor Statistics, about a fifth of all new businesses fail within their first two years and nearly half are shuttered within five years. More than a million U.S. companies with employees were shuttered in 2020, in large part due to the COVID-19 pandemic. The number of bankruptcies in 2020 and those expected this year likely will approach levels last seen during the worst quarter of the 2008-09 financial crisis.

"The extreme nature of the pandemic has made one's ability to manage emotions and social connections critically more important, especially so during these times of major disruption and crisis," said Ernest O'Boyle, associate professor of management and entrepreneurship and the Dale M. Coleman Chair in Management.

The research found that those with a higher emotional intelligence are better able to be self-motivated and have higher social skills - even under more normal circumstances.

"Emotional Intelligence is linked to social skills such as accurately perceiving other's needs, making good first impressions, and influencing others in interpersonal interactions. These skills are important for developing business networks, which can aid in signaling legitimacy and in acquiring resources," researchers wrote. "These skills can enhance creativity and opportunity recognition; aid decision making in emotionally turbulent situations and enable adaptive responses to unpredictable events."

Previous research has suggested that cognitive intelligence was a greater predictor of success among entrepreneurs. The two factors are seldom studied together.

"While IQ is unquestionably the better predictor of job performance and career success across all jobs and careers, within the domain of entrepreneurship, emotional intelligence was the stronger predictor of success," O'Boyle added. "Those with high emotional intelligence tended to be more successful as business leaders and enjoy success than in more typical jobs and careers."

Their findings are based on an empirical study of nearly 40 previous studies and a meta-analysis of 65,826 entrepreneurs observed through that research. Their paper, "What matters more for entrepreneurship success? A meta-analysis comparing general mental ability and emotional intelligence in entrepreneurial settings," appears in Strategic Entrepreneurship Journal.

INFORMATION:

Other authors are Jared Allen, a doctoral student at the University of Central Florida and the corresponding author; and Scott Seibert, professor and chair of human resource management at the Rutgers University School of Management and Labor Relations.



ELSE PRESS RELEASES FROM THIS DATE:

"Liquid" machine-learning system adapts to changing conditions

2021-01-28
MIT researchers have developed a type of neural network that learns on the job, not just during its training phase. These flexible algorithms, dubbed "liquid" networks, change their underlying equations to continuously adapt to new data inputs. The advance could aid decision making based on data streams that change over time, including those involved in medical diagnosis and autonomous driving. "This is a way forward for the future of robot control, natural language processing, video processing -- any form of time series data processing," says Ramin Hasani, the study's lead author. "The potential is really significant." The research will ...

Newly licensed autistic drivers crash less than other young drivers

2021-01-28
Philadelphia, January 28, 2021 - A collaborative study from the Center for Injury Research and Prevention (CIRP) and the Center for Autism Research (CAR) at Children's Hospital of Philadelphia (CHOP) found that compared with their non-autistic peers, young autistic drivers have lower rates of moving violations and license suspensions, as well as similar to lower crash rates. The findings were recently published online by the Journal of the American Academy of Child and Adolescent Psychiatry. Obtaining a driver's license is an important milestone for adolescents and young adults. One-third of autistic individuals without intellectual disability obtain ...

Technology bolsters use of chia seeds to help improve health, slow signs of aging

Technology bolsters use of chia seeds to help improve health, slow signs of aging
2021-01-28
WEST LAFAYETTE, Ind. - An improved extraction method involving chia seeds may provide new options for nutritional foods, medicine capsules and anti-aging products. A Purdue University team has developed and patented the method to separate mucilage from chia seeds, yielding a protein-rich chia seed flour with improved bioactivity and functionality compared with conventional methods. This work was supported by the USDA National Institute of Food and Agriculture, Hatch Act formula funds project 1019794. Mucilage is a thick and gluey substance that surrounds chia seeds and can make processing the seeds for food or pharmaceutical uses much more difficult or nearly impossible. "We are excited about our ...

Antibiotic may improve outcomes for depression in people with low level inflammation

2021-01-28
King's College London researchers have found evidence that minocycline, a widely used antibiotic with anti-inflammatory properties, gave greater improvement in depressive symptoms in patients with treatment resistant depression with low-grade peripheral inflammation. Improvement in depressive symptoms In a four-week randomised clinical MINDEP (MINocycline in DEPression) trial, 39 patients with major depressive disorder were recruited from services linked to South London and Maudsley NHS Foundation Trust (SLaM) and via public advertisement. The trial took place at the NIHR / Wellcome Trust King's Clinical Research Facility at King's College Hospital. The patients, who were taking their routine antidepressant treatment, were split into two ...

Consuming omega-3 fatty acids could prevent asthma

2021-01-28
New research suggests that a higher dietary intake of long chain omega-3 fatty acids in childhood may reduce the risk of developing subsequent asthma, but only in children carrying a common gene variant. The study, led by Queen Mary University of London, is in collaboration with the University of Bristol and University of Southampton, UK, and Karolinska Institutet, Sweden. In the UK, 1.1 million children (1 in 11) are currently receiving treatment for asthma and most adult asthma begins in childhood. The NHS spends around £1 billion a year treating and caring for people with asthma. Senior author, Professor Seif Shaheen from Queen Mary ...

Support for self isolation must be a top priority, say experts

2021-01-28
Helping people to self isolate after testing positive for covid-19 must now be a top priority for the UK government, argue experts in The BMJ today. Dr Muge Cevik at the University of St Andrews and colleagues say the focus should be on those working in high exposure occupations, living in overcrowded housing, or without a home, and should include free and safe accommodation alongside adequate income support, job protection, and help with caring responsibilities. Most countries have used testing as a tool to interrupt transmission chains by encouraging ...

Legal cannabis stores linked to fewer opioid deaths in the United States

2021-01-28
Access to legal cannabis stores is associated with a reduction in opioid related deaths in the United States, particularly those linked to synthetic opioids such as fentanyl, finds a study published by The BMJ today. Opioids are 'morphine-type' drugs that relieve short-term (acute) pain and pain at the end of life. There is little evidence that they are helpful for long-term (chronic) pain, but they are often prescribed for this reason. This has led to widespread misuse and a sharp rise in overdose deaths, particularly in the United States. In 2018, there were more than 46,000 fentanyl related deaths, representing over two thirds of all US opioid related deaths that ...

People with severe atopic eczema may have increased risk of death from several causes

2021-01-28
A new study has shown that, while there is limited evidence for overall increased mortality in patients with atopic eczema, those with severe atopic eczema may have a greater risk of dying from several health issues compared with those without eczema, according to a new study in the Journal of Allergy and Clinical Immunology. The research team, led by the London School of Hygiene & Tropical Medicine (LSHTM) and funded by the Wellcome Trust, compared the risk of dying in over 500,000 adults with atopic eczema with more than 2.5 million without eczema. Patients with severe atopic eczema had a 62% higher risk of dying compared to ...

Scientists publish a blueprint to apply artificial intelligence to extend human longevity

Scientists publish a blueprint to apply artificial intelligence to extend human longevity
2021-01-28
27th of January, Wednesday, Hong Kong - Deep Longevity, a fully-owned subsidiary of Regent Pacific (HKEX: 0575), specializing in the development and the application of next-generation artificial intelligence (AI) for aging and longevity research, today announced the publication of an article in END ...

Putting bugs on the menu, safely

Putting bugs on the menu, safely
2021-01-27
The thought of eating insects is stomach turning for many, but new Edith Cowan University (ECU) research is shedding light on allergy causing proteins which could pose serious health risks for those suffering from shellfish allergy. The research, published in the journal Food Chemistry, identified 20 proteins found in cricket food products which could cause serious allergic reactions. The project was led by Professor Michelle Colgrave from ECU's School of Science and the CSIRO. Professor Colgrave said crickets and other insects could be the key to feeding ...

LAST 30 PRESS RELEASES:

Thirty-year mystery of dissonance in the “ringing” of black holes explained

Less intensive works best for agricultural soil

Arctic rivers project receives “national champion” designation from frontiers foundation

Computational biology paves the way for new ALS tests

Study offers new hope for babies born with opioid withdrawal syndrome

UT, Volkswagen Group of America celebrate research partnership

New Medicare program could dramatically improve affordability for cancer drugs – if patients enroll

Are ‘zombie’ skin cells harmful or helpful? The answer may be in their shapes

University of Cincinnati Cancer Center presents research at AACR 2025

Head and neck, breast, lung and survivorship studies headline Dana-Farber research at AACR Annual Meeting 2025

AACR: Researchers share promising results from MD Anderson clinical trials

New research explains why our waistlines expand in middle age

Advancements in muon detection: Taishan Antineutrino Observatory's innovative top veto tracker

Chips off the old block

Microvascular decompression combined with nerve combing for atypical trigeminal neuralgia

Cutting the complexity from digital carpentry

Lung immune cell type “quietly” controls inflammation in COVID-19

Fiscal impact of expanded Medicare coverage for GLP-1 receptor agonists to treat obesity

State and sociodemographic trends in US cigarette smoking with future projections

Young adults drive historic decline in smoking

NFCR congratulates Dr. Robert C. Bast, Jr. on receiving the AACR-Daniel D. Von Hoff Award for Outstanding Contributions to Education and Training in Cancer Research

Chimpanzee stem cells offer new insights into early embryonic development

This injected protein-like polymer helps tissues heal after a heart attack

FlexTech inaugural issue launches, pioneering interdisciplinary innovation in flexible technology

In Down syndrome mice, 40Hz light and sound improve cognition, neurogenesis, connectivity

Methyl eugenol: potential to inhibit oxidative stress, address related diseases, and its toxicological effects

A vascularized multilayer chip reveals shear stress-induced angiogenesis in diverse fluid conditions

AI helps unravel a cause of Alzheimer's disease and identify a therapeutic candidate

Coalition of Autism Scientists critiques US Department of Health and Human Services Autism Research Initiative

Structure dictates effectiveness, safety in nanomedicine

[Press-News.org] Entrepreneurs benefit more from emotional intelligence than other competencies, such as IQ