ENTREPRENEURIAL SUCCESS

Antecedents of Entrepreneurial Success: Interface of Motivation, Resource and Work Family



Table of Contents

CHAPTER 1: INTRODUCTION1

Background of the Study1

Problem statement1

Rationale of the Study1

Aims and Objectives2

Conceptual Model2

Research Questions3

Ethical Concerns3

CHAPTER 2: LITERATURE REVIEW4

Motivation and personality4

Work life interface5

Resources6

CHAPTER 3: METHODOLOGY7

Research method7

Research approach7

Literature search8

References9

CHAPTER 1: INTRODUCTION

Background of the Study

The researches conducted on motivation so far and traits of entrepreneurship revealed that it is the need for achievement, profitability, and self-reliance that motivates entrepreneurs. These elements are the most common traits in most entrepreneurs but they do not tell the complete picture of entrepreneurs who work in more than one society and face a conflict in the attitudes of the two societies, the level of competence, and the priorities of people in different societies. These societies are marked by cultural, political and even economic conditions. In the midst of the pressure to align the differenced and remain focused on their mission, there is a role to be played by motivation and resources (Smith, 2010, p. 26). However, if the person lacks support from family or fails to maintain the work life balance then he would not be able to achieve what he had aimed for initially. In addition, the personality of the entrepreneur also matters. Commitment towards work is a function of motivation and this motivation dwindles when the work life balance is not maintained. There are plausible interactions between motivation, resource and work family balance with the success of an entrepreneur.

Problem statement

The studies of entrepreneurship mostly focus on the macro factors in the external environment such as the favorable impacts in the external environment, the kind of opportunities that are available to them, the capital with the entrepreneur and others. However, the success of an entrepreneur is equally influenced by internal factors or personal factors such as the level of motivation of the entrepreneur, the resources available with the entrepreneur as well as the level of resources that the entrepreneur is willing to deploy for this enterprising objectives, and the ability of the entrepreneur to maintain work life balance. These internal factors are interrelated with one another and it is this relationship that serves as an antecedent of entrepreneurial success.

Rationale of the Study

In today's competitive environment which is marked by survival of the fittest, it is essential that each individual should get the chance to explore and capitalize on the many opportunities in the internal and external environment. The sedentary lifestyle, rising cost of living, high inflationary pressure, the vicious cycle of debt, the change in consumer dynamics whereby people have become more convenience oriented and consumption oriented, pose threats to the human survival given the scarce resources. The need for people to ensure a steady flow of income has robbed people of their enterprising attitude. Seeing the level of risk inherent in entrepreneurship, people often resist become an entrepreneur. In addition, those who fail as an entrepreneur are highly demotivated and serve as a bad signal for the upcoming entrepreneurs (Nwagbara, 2012, p. ...