The importance of externally focused self-awareness to family entrepreneurship

Abstract

Self-awareness is not simply an internal understanding of ourselves (strengths, weaknesses, values, hopes, personality traits, etc.). There is an externally focused aspect of self-awareness that considers our ability to anticipate how others experience us (Taylor, Redefining leader self-awareness by integrating the second component of self-awareness. Journal of Leadership Studies, 3(4), 57-68, 2010). Entrepreneurial activity in a family likely occurs and is maintained over time when the nature of the family relationships is overall positive and closely connected. One of the ways to create such relationships is to invest in the development of externally focused self-awareness in the family.