Influence of Entrepreneurial Alertness and Self-Efficacy on Entrepreneurial Intention
Keywords:
Entrepreneurial Alertness, Self-Efficacy, Risk-Taking Behavior, Work Effort, Entrepreneurial IntentionAbstract
Entrepreneurs have a substantial role in developing business and driving economics. Understanding
human factors that influence the intention of the potential entrepreneurs to develop a business would
be beneficial for the educators and stakeholders to design the courses that enhance the entrepreneurial
readiness for those potential entrepreneurs. This research aimed to investigate and clarify the relationship
among three human factors - entrepreneurial alertness, self-efficacy, risk-taking and entrepreneurial intention. Work effort was appointed as a mediator that intervene the relationship between the aforementioned human factors and entrepreneurial intention. Senior standing undergraduate students were targeted to be the population in this study since they are in the transition period from the education to the work force. They have to make decision to find a job in a business firm, to work for their family businesses (if any) or to develop their own business or even to pursue for the further education. Questionnaire survey was
designed. Four hundred seventy-six sets of data were used in the data analysis. Structural equation modeling
was conducted. Three important findings were obtained. First, entrepreneurial alertness and self-efficacy
positively affected work effort. Second, entrepreneurial alertness and risk-taking directly affected entrepreneurial intention while self-efficacy indirectly affected entrepreneurial intention via work effort. Third, work effort was positively related to entrepreneurial intention. Regarding the research findings, educational institutes can take an active role on developing and enhancing students’ latent entrepreneurial potential and intention by designing the study programs and courses to promote and enhance entrepreneurial alertness and self-efficacy of the student. In addition, the practical skills to control of the risk aversion and risk taking behavior should, also, be embedded.
References
Alexander, W. H., Fukunaga, R., Finn, P., & Brown, J. W. (2015). Reward salience and risk aversion underlie differential ACC activity in substance dependence. NeuroImage: Clinical, 8, 59-71. doi: 10.1016/j.nicl.2015.02.025
Bandura, A. (1997). Self-Efficacy: The Exercise of Control. New York: W. H. Freeman and Company.
Beverland, M., & Lockshin, L. S. (2002). Organizational life cycles in small New Zealand wineries. Journal of Small Business Management, 39(4), 354–362.
Blais, A. R., & Weber, E. U. (2006). A Domain-Specific Risk-Taking (DOSPERT) scale for adult populations. Judgment and Decision Making, 1(1), 33-47. doi:10.1037/t13084-000
Chen, C., Greene, P., & Crick, A. (1998). Does entrepreneurial self-efficacy distinguish entrepreneurs from managers? Journal of Business Venturing, 13(4), 295-316.
De Cooman, R., De Gieter, S., Pepermans, R., Jegers, M., & Van Acker, F. (2009). Development and validation of the work effort scale. European Journal of Psychological Assessment. 25(4), 266–273. doi:10.1027/1015-5759.25.4.266
Dinis, A., Do Paco, A., Ferreira, J., Raposo, M., & Rodrigues, R. G. (2013). Psychological characteristics and entrepreneurial intentions among secondary students. Education + Training, 55(8/9), 763-780.
Drnov.ek, M., Wincent, J., & Cardon, M. S. (2010). Entrepreneurial self-efficacy and business start-up: developing a multidimensional definition. International Journal of Entrepreneurial Behavior & Research. 16(4), 329-348. doi:10.1108/13552551011054516
Gelaidan, H. M., & Abdullateef, A. O. (2017). Entrepreneurial intentions of business students in Malaysia: the role of self-confidence, educational and relation support. International of Small Business and Enterprise Development, 24(1), 54-67. doi: 10.1108/JSBED-06-2016-0078
Gerba, D. T. (2012). The context of entrepreneurship education in Ethiopian universities. Management Research Review, 35(3), 225-244. doi: 10.1108/01409171211210136
Haynie, J. M., Sheperd, D., Mossakowski, E., & Earley, P. C. (2010). A situated metacognitive model of the entrepreneurial mindset. Journal of Business Venturing, 25, 217–229. doi: 0.1016/j.jbusvent.2008.10.001
Kabir, S. M., Haque, A., & Sarwar, A. (2017). Factors affecting the intention to become an entrepreneur: a study from Bangladeshi business graduates perspective. International Journal of Engineering and Information Systems, 1(6), 10-19.
Karabulut, A. T. (2016). Personality Traits on Entrepreneurial Intention. Procedia-Social and Behavioral Sciences, 229, 12-21. doi: 10.1016/j.sbspro.2016.07.109
Kirzner, I. M. (1973). Competition and Entrepreneurship. Chicago: University of Chicago press.
Kusumawardhany, P. A., & Dwiarta, I. M. B. (2020, January). Entrepreneurial Intention Among Millennial Generation: Personal Attitude, Educational Support, and Social Media. Paper presented at the 17th International Symposium on Management (INSYMA 2020) (pp. 63-68). Atlantis Press.
Li..n, F., & Chen, Y. (2009). Development and cross–cultural application of a specific instrument to measure entrepreneurial intentions. Entrepreneurship Theory and Practice, 33(3), 593-617. doi: 10.1111/j.1540-6520.2009.00318.x
Mihalcea, A. D., Mitan, A., & Vitelar, A. (2012). Generation Y: views on entrepreneurship. Economia. Seria Management, 15(2), 277-287.
Mufti, O., Parvaiz, G. S., Qadus, A., & Rahman, A. (2019). The entrepreneurial intention of business students in Pakistan: the role of self-efficacy, business education and perceived social norms. Journal of Business & Economics, 11(1), 55-71.
Mwiya, B., Wang, Y., Shikaputo, C., Kaulungombe, B., & Kayekesi, M. (2017). Predicting the entrepreneurial intentions of university students: Applying the theory of planned behaviour in Zambia, Africa. Open Journal of Business and Management, 5(4), 592-610. doi: 10.4236/ojbm.2017.54051
Nakagawa, K., & Yellowlees, P. (2020). Inter-generational effects of technology: Why millennial physicians may be less at risk for burnout than baby boomers. Current Psychiatry Reports, 22(45), 1-7. doi.org/10.1007/s11920-020-01171-2
Naumann, C. (2017). Entrepreneurial mindset: A synthetic literature review. Entrepreneurial Business and Economics Review, 5(3), 149-172. doi: 10.15678/EBER.2017.050308
Newman, A., Obschonka, M., Schwarzc, S., Cohena, M., & Nielsen, I. (2019). Entrepreneurial self-efficacy: A systematic review of the literature on its theoretical foundations, measurement, antecedents, and outcomes, and an agenda for future research. Journal of Vocational Behavior. 110, 403-419.
doi:10.1016/j.jvb.2018.05.012
Nunnally, J. C. (1978). Psychometric Theory. (2nd ed). New York: McGraw-Hill.
Paulsen, D. J., Platt, M. L., Huettel, S. A., & Brannon, E. M. (2012). From risk-seeking to risk-averse: The development of economic risk preference from childhood to adulthood. Frontiers in Psychology, 3(313). doi: 10.3389/fpsyg.2012.00313
Piccolo, R. F., & Colquitt, J. A. (2006). Transformational leadership and job behaviors: The mediating role of core job characteristics. Academy of Management Journal, 49, 327–340. doi: 10.5465/AMJ.2006.20786079
Pierro, A., Kruglanski, A. W., & Higgins, E. T. (2006). Progress takes work: Effects of the locomotion dimension on job involvement, effort investment, and job performance in organizations. Journal of Applied Social Psychology, 36, 1723–1743. doi: 10.1111/j.0021-9029.2006.00078.x
Samo, A. H., & Hashim, N. (2016). The impact of entrepreneurial alertness on entrepreneurial intentions. Journal of International Business Research and Marketing, 1(6), 7-11. doi: 10.18775/jibrm.1849-8558.2015.16.3001
S.nchez, J. C. (2012). Entrepreneurial Intention: The roles of cognitive variables. In T. Burger-Helmchen (Ed.), Entrepreneurship-Born, Made and Educated, (pp. 27-50). InTech, Rijeka.Retrieved from https://pdfs.
semanticscholar.org/8d3b/0501ae99c1fde988a8ab12d306b4ad512981.pdf?_ga=2.64509100.241485273.1618621079-415682245.1617106518.
Schwarzer, R., & Jerusalem, M. (1995). Generalized Self-Efficacy Scale. In J. Weinman, S. Wright., & M. Johnston. Measures in health psychology: A user’s portfolio. Causal and control beliefs (pp. 35-37). Windsor, UK: NFER-NELSON. Retrieved from https://www.researchgate.net/publication/284672098_Measures_in_Health_Psychology_A_User's_Portfolio_Causal_and_Control_Beliefs.
Solesvik, M. Z., Westhead, P., Kolvereid, L., & Matlay, H. (2012). Student intentions to become selfemployed: the Ukrainian context. Journal of Small Business and Enterprise Development, 19(3), 441-460. doi: 10.1108/14626001211250153
Sweida, G. L., & Reichard, R. J. (2013). Gender stereotyping effects on entrepreneurial self-efficacy and high-growth entrepreneurial intention. Journal of Small Business and Enterprise development, 20(2), 296-313. doi: 10.1108/14626001311326743
Tang, J., Kacmar, K. M., & Busenitz, L. W. (2012). Entrepreneurial alertness in the pursuit of new opportunities. Journal of Business Venturing, 27(1), 77-94. doi:10.1016/j.jbusvent.2010.07.001
The World Bank. (2020). Small and Medium Enterprises (SMES) Finance. Retrieved from https://www.worldbank.org/en/topic/smefinance
Thompson, E. (2009). Individual Entrepreneurial Intent: Construct clarification and development of an internationally reliable metric. Entrepreneurship: Theory and Practice, 33(3), 669-694. doi: 10.1111/j.1540-6520.2009.00321.x
Vertel, A. (2011). Study of the Self-perceived Attitudes and Behaviors of Successful Online Woman Entrepreneurs. (Doctoral Dissertation). Capella University, Minneapolis, MN. Retrieved from ProQuest Dissertations Publishing, 2012. (UMI 3491350).
Yahya, S. F., Abdulmalik, A. S., & Saleh, R. (2019). Entrepreneurial intention among business students of the Lebanese International University (LUI). Global Business and Management Research, 11(2), 13-25.
Yeo, G. B., & Neal, A. (2004). A multilevel analysis of effort, practice, and performance: Effects of ability, conscientiousness, and goal orientation. Journal of Applied Psychology, 89, 231–247. doi: 10.1037/0021-9010.89.2.231
Downloads
Published
How to Cite
Issue
Section
License
บทความที่ลงตีพิมพ์ในวารสารวิชาการบริหารธุรกิจ สมาคมสถาบันอุดมศึกษาเอกชนแห่งประเทศไทยต้องเป็นบทความที่ไม่เคยได้รับการตีพิมพ์เผยแพร่ หรืออยู่ระหว่างการพิจารณาตีพิมพ์ในวารสารอื่นๆ การละเมิดลิขสิทธิ์เป็นความรับผิดชอบของผู้ส่งบทความโดยตรง
