The “Facets Model” in entrepreneurship generally refers to frameworks that break down complex entrepreneurial traits or activities into distinct, interconnected components (facets) for analysis.
Bolton & Thompson’s Entrepreneurial Facets (for entrepreneurial character) can be broken down into six themes (Focus, Advantage, Creativity, Ego, Team, Social).
Moriarty’s Facets Model of Effects (Perception, Cognition, Emotion, Association, Persuasion, Behavior) helps to understand how consumer response to marketing (different angles of engagement).
These models provide a structured way to analyze:
- Personal Traits: What makes a successful entrepreneur successful.
- Marketing Impact: How marketers can effectively reach and influence customers.
- Strategic Implementation: How to manage complex changes like technology adoption.
Common Facet Models in Entrepreneurship:
Bolton & Thompson’s Entrepreneurial Facets
This model was developed by Bill Bolton and John Thompson. The model looks at the D.N.A. of an entrepreneur. The model lets you look at the entrepreneur as a person and enables you to assess your own entrepreneurial potential.Bolton & Thompson’s Entrepreneurial Facets (Character/Team):
- Focus: Targets and delivers. Urgency, deadline-driven, action-oriented.
- Advantage: Picks the winning opportunities. Seeking competitive edge, exploiting opportunities.
- Creativity: Comes up with ideas. Generating novel ideas and solutions.
- Ego: Self-belief, drive, risk-taking. (Ego – inner – drives you ever forward, Ego – outer – meets the challenges head on)
- Team: Building effective teams, seeking complementary skills. Multiplies entrepreneur’s potential
- Social: Networking, leveraging external support. Delivers on a cause
Focus, Advantage, Creativity and Ego are found in all entrepreneurs.
It’s their FACE.
Its what we see when we look at an Entrepreneur.
Their strength in the Team or Social facets will add to their basic profile.
The presence or absence of the Team facets affects the growth potential of the business or initiative.
The presence and relative strength of the Social facet affects the very nature of the business.
Moriarty’s Facets Model of Effects
Moriarty’s Facets Model of Effects (Marketing/Advertising):
- Perception (See/Hear): Grabbing attention (exposure, selective attention).
- Cognition (Think/Understand): Processing information, differentiating, comprehension.
- Affective/Emotion (Feel): Creating emotional responses.
- Association (Connect): Linking brand with meanings/symbols.
- Persuasion (Believe): Influencing attitudes, making decisions.
- Behavior (Act/Do): Driving action (purchase, trial).
Technology/Innovation Facets
Frameworks such as the “Six Facets Model of Technology Management” focus on aspects like evaluation, integration, planning, implementation, training, and change for successful tech adoption in business.
- Technology Evaluation: Evaluate the suitability and potential of the new technology.
- Product & Process Integration: Integrate the tech into existing products, workflows, and operations.
- Planning: Strategic outlining of goals, resources, and timelines for the change.
- Implementation: The actual deployment of the technology.
- Training: Provide users with the necessary skills and knowledge.
- Change Management: Manage the transition to minimize disruption.
