Improving entrepreneurial self-efficacy and the attitude towards starting a business venture

Self Cite

PurposeMotivation can serve as the engine that turns intention into action, and, as such, is indispensable in the early phase of the entrepreneurial process, where opportunity recognition and exploitation are key. However, research in this area has so far shed a selective spotlight on specific facets of entrepreneurial motivation, whereas the consideration of basic motives has been widely neglected. Hence, the purpose of this paper is to illuminate the basic motivational foundations of one core aspect of entrepreneurial behavior, namely opportunity recognition.Design/methodology/approachThe study examined how motivation influences the process of recognizing and exploiting entrepreneurial opportunities in a sample of 312 managing directors and managing partners of small and medium-sized enterprises. Opportunity recognition and exploitation were assessed by two different measures: one evaluating the objective number of recognized and realized business opportunities, the other assessing the perceived proficiency in identifying and exploiting entrepreneurial opportunities. Implicit and explicit facets of basic motivation were measured using a comprehensive assessment of human needs.FindingsFindings show that entrepreneurs' achievement motive is an important driver in both the identification and exploitation of opportunity. The power motive affects the perceived ability to exploit business opportunities. Interestingly, the explicit affiliation motive showed an inhibitory effect on the perceived ability of opportunity identification, whereas implicit affiliation motive is affecting the number of recognized and realized business opportunities positively.Originality/valueThis research clearly highlights the preeminence of basic motivational factors in explaining individual early-stage entrepreneurial behavior, making them a prime target for training interventions.

Section: Discussionsupporting

confidence: 77%

Motivational foundations of identifying and exploiting entrepreneurial opportunities

Maran

Bachmann

Möhr

et al. 2021

Self Cite

“…ES provides entrepreneurs with the emotional stability and psychological resources required to focus their attention and energy on developing and growing their business (Arregle et al. , 2015; Bachmann et al. , 2021; Cohen and Wills, 1985).…”

Section: Family Support and Business Performancementioning

confidence: 99%

Family support and business performance of South African female technology entrepreneurs

Neneh

Welsh

2022

PurposeFemale entrepreneurs play an increasingly recognised role in countries' overall well-being by contributing to job creation, wealth, family income and innovation. This study identifies combinations of family support that enhance business performance most effectively.Design/methodology/approachThis study employs a fuzzy-set qualitative comparative analysis (fsQCA), drawing on 184 technology business owners to identify the family support configurations most conducive to high business performance.FindingsThe results suggest that high levels of emotional and instrumental support are necessary for female technology entrepreneurs to achieve a high firm performance (FP) level when instrumental support at home (ISH) is lacking. As a comparison, male technology entrepreneurs can still achieve a high level of FP when emotional and instrumental support for the business (ISB) is low.Originality/valueThis research contributes to the body of knowledge on women's entrepreneurship in emerging economies, technology entrepreneurs in South Africa and family and business support systems. The authors add to the emerging literature on the potential downsides of family embeddedness by tying theory to the findings on how family embeddedness-related obligations arise when individuals depend on their family's financial support and how this reliance impedes the formation of entrepreneurial intentions.

“…Generally, the institutional environment of every country consists of three forces (regulatory, cognitive and normative) that influence entrepreneurial activity (Busenitz et al, 2000;Scott, 1995), with combinations of these dimensions defining the specific institutional profile of a given country. Cognitive and behavioral factors are important in improving entrepreneurial self-efficacy in order to start a new business (Bachmann et al, 2021). However, our understanding of the relationship between the forces of the institutional environment and entrepreneurship remains inconclusive, particularly in developing countries and emerging markets (Ju and Zhou, 2020).…”

Section: Introductionmentioning

confidence: 99%

“…, 2000; Scott, 1995), with combinations of these dimensions defining the specific institutional profile of a given country. Cognitive and behavioral factors are important in improving entrepreneurial self-efficacy in order to start a new business (Bachmann et al. , 2021).…”

Section: Introductionmentioning

confidence: 99%

“…, 2000), whether as a result of planned behavior (Ajzen, 1991) or as a response to entrepreneurial events occurring in a social context (Shapero and Sokol, 1982). However, while entrepreneurial intentions have traditionally been linked to psychological aspects such as personality traits (Bachmann et al. , 2021; de Pillis and Reardon, 2007; Zhao et al.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Cultural intelligence, entrepreneurial intentions and the moderating role of the institutional environment

Kromidha

Altınay

Madanoglu

et al. 2022

PurposeEntrepreneurial intentions have traditionally been linked to an entrepreneur's personal ability to take advantage of opportunities. Yet, entrepreneurs' perceptions of contextual factors, which extend beyond one's control, deserve equal attention. This paper looks at the role played by cultural intelligence and the institutional environment in shaping entrepreneurial intentions.Design/methodology/approachThe role played by cultural intelligence in entrepreneurial intentions and the mediating role played by the institutional environment were studied quantitatively by analyzing 224 young potential entrepreneurs who had participated in a business plan competition. This study used cross-sectional data, developing an original full collinearity assessment approach to check for any common method bias.FindingsThis study reveals a positive relationship between cultural intelligence and entrepreneurial intentions. Likewise, any favorable perceptions of the institutional environment tend to increase the probability of engaging in entrepreneurship and further strengthen the positive effect of cultural intelligence on entrepreneurial intentions.Originality/valueThis study provides a holistic view of the relationship between the entrepreneur and the context in which ventures are created, explaining the role played by cultural intelligence in entrepreneurship based on evidence drawn from a developing country. This contributes to a critical reflection on personal and environmental factors and the antecedents of entrepreneurial intentions.