Factors influencing entrepreneurial intention

Factors influencing entrepreneurial intention Purpose- the purpose of this research is to investigate what the causes influenced among students in Universiti Teknologi Mara in Shah Alam branch in entrepreneurial intention and to make an evaluation for their entrepreneurship orientation by comparing them with non-entrepreneurially inclined students. Design/methodology/approach- Findings- the result of this test showed that Research limitations/implications- the study comprises respondent 300 of students at all course fields in Universiti Teknologi Mara in Shah Alam branch and the percentage of students in the sample who wish to be entrepreneurs is Practical implications This study provides insight into entrepreneurship education, as to which entrepreneurial characteristics can be developed to raise good entrepreneurs. Originality/value This study contributes to understanding the differences between characteristics of entrepreneurially inclined and non-inclined students at the edge of graduation. Nowadays entrepreneurship has captured their attention among people especially teenagers in all over the world. The main reason of this concern is the growing need for entrepreneurs who accelerate economic development through generating new ideas and converting them into money-making ventures. However, it has a more critical role for economies of developing countries since entrepreneurship is seen as an engine of economic progress, job creation and social adjustment. Thus, small business growth or new business formation is widely encouraged by national economic policies to stimulate economic growth and wealth creation. In parallel with developing interest in entrepreneurship throughout the world, Malaysia has also witnessed an increasing interest in entrepreneurship fields both among their academic scholars and amongst government policy makers and business leaders. Obviously, understanding perceptions of students at higher education level is a necessary step in this process. The purp ose of the current study is to analyze the entrepreneurial intention of university students in Universiti Teknologi Mara Shah Alam . Scope of study The scope in this study is the students in Universiti Teknologi Mara Shah Alam. It comprises all the students in all field of study. The respondent involved 300 students and this amount is using for sample survey in this study. Problem statement The interest making money among the teenagers nowadays make intention in entrepreneurship is getting higher. But have a few of them have a desire to open the business but because of lack of entrepreneur knowledge. Research objective Objective in doing this research is to identify: The factor that influenced student in university to do the business before they done their study. The opinion from the students that already have their own business. How they balance their study and business at the same time. Those who have business experiences in their background Research questions What the factors that influenced university student to do the business? Who you prefer to borrow money to open the business? Significance of study The significant of this study is to analyze the entrepreneurial intention of university students. In this study, a model that mainly focuses on the impacts of some contextual factors was proposed and empirically tested on university students. Furthermore, the study contributes to the literature by theorizing and empirically testing how some factors affect entrepreneurial intention of university students. It is believed that the results of study may have some significant implications for the policy makers and educators. INTRODUCTION Entrepreneurship has captured the attention of both scholars and policy makers during the last decades. The main reason of this concern is the growing need for entrepreneurs who accelerate economic development through generating new ideas and converting them into profitable ventures. Entrepreneurial activities are not only the incubators of technological innovation; they provide employment opportunity and increase competitiveness also (Reynolds, 1987; Zahra, 1999). Some scholars primarily focus on the effect of personality characteristics on decision making process (Bonnett and Furnham, 1991; Brockhaus, 1980; Johnson,1990). Although the results vary across the studies, they often indicate a link between entrepreneurial intention and some personality factors, such as self-confidence, risk-taking ability, need to achievement, and locus of control. However, a person is surrounded by an extended range of cultural, social, economical, political, demographical, and technological factors. Therefore, personality traits cannot be isolated from these contextual factors. In the literature, there are some studies that take into account the role of these factors also. For instance, according to Hisrich (1990), people can be pushed or pulled by the situational factors, which are related with their personal backgrounds and present lives. From a broader point of view, the cultural and institutional frameworks also affect entrepreneurship (Wennekers and Thurik, 1999). The review of literature on entrepreneurship shows that most of the scholars have focused on adult entrepreneurs. In these studies, adult entrepreneurs were examined after choosing their entrepreneurial careers. Since people are likely to start a business within the age range of 25 to 44 (Liles, 1974), it is also critical to focus on people who are younger than 25 and understand which factors affect their intentions to start-up a business in the future. As Henderson and Robertson (2000) also stated . . . the future working environment will depend on the creativity and individuality of the young. However, indeed relatively little is known about young adult views on entrepreneurship (p.279). The purpose of the current study is to analyse the entrepreneurial intention of university students. In the study, a model that mainly focuses on the impacts of some contextual factors was proposed and empirically tested on university students. Therefore, the study contributes to the literature by theorizing and empirically testing how some factors affect entrepreneurial intention of university students. It is believed that the results of study may have some significant implications for the policy makers and educators. VARIABLES Dependent variable: Entrepreneur intentions among students. Independent variables: Educational support, structural support and relational support Educational support The first dimension of model is educational support. It is obvious that professional education in universities is an efficient way of obtaining necessary knowledge about entrepreneurship. Although, in their study, Wang and Wong (2004, p. 170) mainly focused on personality characteristics of students, they also pointed out the fact that the entrepreneurial dreams of many students are hindered by inadequate preparation; . . .their business knowledge is insufficient, and more importantly, they are not prepared to take risk to realize their dreams.. In the literature, some studies analyse how these entrepreneurial interests of universities affect entrepreneurial inclination of students. The study of Gorman and Hanlon (1997) showed that entrepreneurial attributes can be positively influenced by educational programmes. It is clear that an effective education on entrepreneurship can be a factor to push people towards an entrepreneurial career (Henderson and Robertson, 2000). Structural support The second factor in the model is structural support which are we are social, cultural, economical, political and technological factors. The current context of entrepreneurship is mainly shaped by economical and political mechanisms, which are governed by the actors in the public, private, and non-governmental sectors. In such a system, there can be some opportunities or threats for entrepreneurs. For instance, if there are some barriers to entry into the market, people might show a lower tendency for entrepreneurship. However, if they find the given conditions adequate and favourable, it might be expected that they are more likely to start a business. Relational support The study of Henderson and Robertson (2000) showed that family was the second factor influencing career choice of respondents after their personal experience. Therefore, the support of family and friends is likely to affect ones career selection. In the current study, this relational support mainly indicates the sentimental and monetary supports of family and friends. If someone knows that there will be such type of support when s/he starts a business, she or he might be encouraged to choose an entrepreneurial career. Moderating variable: Self Confidence The model also considers the impact of one personality trait, self-confidence, as moderator variable. However, the level of self-confidence that is generally defined as believing in oneselfmay influence ones perception as well. Self-confidence is widely accepted as avaluable individual asset and a key to personal success. In their study, BeÂÂ ´nabou and Tirole(2002) explained why an optimistic self-view is seen as a good thing. According to them, self-confidence is valuable because it makes people happier, it makes it easier to convince others (rightly or wrongly) and improves the individuals motivation to undertake projects and persevere in the pursuit of his goals (p.877). Based on this conceptualization, it might be expected that more self-confident people may perceive their environment more favourably than others and have more optimistic perspective about their future. Therefore, if a person has a high level of self-confidence, the strength of the proposed link between educa tional support, structural support, relational support and entrepreneurial intention may also increase. THEORITICAL FRAMEWORK Self-Confidence Entrepreneur Interest Structural Support Relational Support Educational Support INDEPENDENT VARIABLES MODERATING DEPENDENT VARIABLE VARIABLE TABLE 1.1: THEORITICAL FRAMEWORK RELATIONSHIP Hypothesis 1: Entrepreneurial intention of university students positively relates with perceived educational support. Hypothesis 2: Entrepreneurial intention relates with perceived structural support. Hypothesis 3: The entrepreneurial intention positively relates to perceived relational support. Moderating hypothesis: 1) The strength of the relationship between entrepreneurial intention and perceived educational support is affected by the level of self-confidence. 2)The strength of the relationship between entrepreneurial intention and perceived structural support is affected by the level of self-confidence. 3) The strength of the relationship between entrepreneurial intention and perceived relational support is affected by the level of self-confidence. 3.1 Research Design 3.1.1 Purpose of study Fostering entrepreneurship needs a twofold policy that should focus on both the current situation and future prospect of entrepreneurship. Although many scholars and policy makers devote their attention to the first foci of issue, it is equally important to map out the future context of entrepreneurship. The purpose of this paper is to fill this void by analyzing the impacts of some contextual factors on entrepreneurial intention of university students. 3.1.2 Type of investigation The type if investigation for this research is correlation study. This is because the researchers want to identify the important of the factors or variables associated with the problem. It is to determine whether relational support, structured support and educational support and the intention to become an entrepreneur among student is correlated. The researchers also want to know what are the significant amount of the independent variables in the intention to become an entrepreneur among student. If they are significant between these two variables, which among these three variables examined is the one that has the greatest association with it, which is the next and which is the third? It is to see if there is any relationship exist among the variables investigated. The answer to this correlational study will help to determine the extent of the intention to become an entrepreneur or to start a business among UiTM students are influenced by the relational support, structured support an d educational support. 3.1.3 Extend of researcher interference with the study. We have study the intention among students towards entrepreneur. In other words, we want to do a correlational study. Here, we will collect data among UiTM students to indicate how much factors of relational, educational and structural influence them to have intention to be an entrepreneur or start the business. By correlating three variables the answer being sought can be found. In this case, beyond administering a questionnaire to the student, we have not interfered with the students` normal activities. In other words, our interference has been at minimal because the variables are beyond our control. It is depends on each of respondents background. 3.1.4 Study setting The study setting of our research is field study. We want to analyze the relationship between the relational, structural and educational support with the intention to become an entrepreneur. We try to correlate between dependent and independent variables by looking at whether the respondents have high level of education, received full support from family members and also the economic situation as the intention to be an entrepreneur increase. Therefore this is a field study. Research here is done in a non contrived setting with no interference with the five independent variables. 3.1.5 Unit of analysis In this study, we want to know factors that influence intention among customers of Bank Islam. For this purpose, data will have to be collected from the sample which is 150 students and the units of analysis are individual. 3.1.6 Time frame The time frame for our research is one-shot or cross-sectional studies. Date was collected from to students between September and October to study the factors that influence intention among UiTM students to participate in entrepreneurship. This is because we only need to gather our data just once that is over a period of weeks, in order to answer the research question. Data with respect to this research had not been collected before, nor will they be collected again for this research. 3.2 Sampling design/case In our research, the sampling design that be used is non probability sampling which is convenience sampling. Convenience sampling refers to the collection of information from members of the population who are conveniently available to provide it. We used these types of sampling design because it is the best way of getting basic information quickly and efficiently and it is also less expensive. In addition, these types of sampling are the most easily accessible to our respondents as subject. These types of sampling are most often used during the exploratory phase of a research project. We do not have the knowledge or predetermine chance of respondents being selected as subject. In thousands of UiTM students, we do not know who the 300 respondents are. 3.3 Data Collection Method 3.2.1 Primary data Primary data refer to information obtained first-hand by the researcher on the variables of interest for the specific purpose of the study. In this research the sources from our primary data is our respondents where we obtained the data through the administered questionnaire. 3.2.2 Secondary Data Secondary data refer to information gathered from sources that already exist. Our secondary source of data is through the analysis of industry offered by the media in the internet which is in form of journal. This information gathered by someone other than the researcher. The advantages of seeking secondary data sources is savings time and costs of acquiring the information. 5.00 Conclusion and Recommendation 5.1 Conclusion The results of survey revealed that only two subsets of proposed model were significant predictors of entrepreneurial intention. The first factor is educational support that indicates mainly a supportive university environment. According to the results, if a university provides adequate knowledge and inspiration for entrepreneurship, the possibility of choosing an entrepreneurial career might increase among young people. It is obvious that this result confirms the key role of education in the development of entrepreneurial intention. Therefore, in the light of the current study, it might be stated that entrepreneurship can be fostered as a result of a learning process. This result is not only interesting from the theoretical point of view, but it is also a challenge for the educators and policy-makers. Since entrepreneurial activities are becoming vital to the economic development of a country, both of these groups might focus on the design of more effective educational policies. Alt hough there is no consensus on the content and structure of entrepreneurship education, the findings of current study showed that universities should, at least, encourage the development of creative ideas for being an entrepreneur, provide the necessary knowledge about entrepreneurship, and develop the entrepreneurial skills. However, the strength of the link between educational support and entrepreneurial intention was not affected by the level of self-confidence. Second factor, which also emerged significant in the survey, is structural support. It is obvious that fostering entrepreneurship requires a more comprehensive support including the collaboration of all sectors in the society. Despite its weak explanatory power, the analysis also showed that this type of structural support might affect entrepreneurial intention of university students. One of the interesting results in the study is the impact of moderating variable on the proposed link between perceived structural support and entrepreneurial intention. The hypothesis test confirmed that self-confident respondents perceive structural support more favorable than others. In this case, the level of self- confidence might affect ones perception on external environment. Although the structural conditions are similar for everyone living in the same context, the perceptions, attitudes, and behaviors might vary. Therefore, the structural support for entrepreneurship is very significant to stimulate people to be an entrepreneur. Another interesting result of survey appears when comparing the explanatory powers of educational and structural supports; the former has slightly higher beta coefficient than the latter. In this case, educational support was perceived more important than structural support. The possible reason for this result might be the timing differences between these two support factors. It is clear that the main focus of structural support is existing entrepreneurs in the economy. Although studen ts are currently aware of this support, they might think that this type of large scale supports will affect them in the future. On the other hand, educational support might be perceived as an immediate factor. Therefore, it is logical that the impact of educational support was higher than structural support. 5.2 Limitation of study The current study is subject to some limitations. Firstly, similar to the previous studies in the literature, the study focuses on the intentionality. It is clear that intentions may not turn into actual behaviors in the future. Therefore, even if one respondent stated a high entrepreneurial intention in the survey, s/he might choose a completely different career path in the future. In fact, it has been a common problem for almost all study in the literature and currently there is no other accurate way to measure the tendency for entrepreneurship. Therefore, the statements of respondents about their entrepreneurial intention were taken as a reliable source of information. However, it might be more useful to measure this variable through multiple items in order to reduce measurement error in the further studies.Since the collected data was based on the perceptions of the students, a second limitation might appear on a possible difference between perceptions and reality.Obviously, ther e is always a risk that the perceptions of students on outside world might be different than the reality. The studies that aim to show such realities may indicate that, for instance, the universities are successful to stimulate entrepreneurship or financial system are supporting entrepreneurs sufficiently etc. These types of studies are highly valuable to take a picture of entrepreneurial environment. However, it is equally important to analyse how these given conditions are perceived by entrepreneurs or potential entrepreneurs even if they have limited knowledge of outside world. The current study aims to understand the perceptions of students on the context.Another limitation is that some factors in the model were broadly defined and so broadly measured in the survey. For instance, educational support factor were measured through three broad statements, which assess the education support for stimulating creative ideas, providing knowledge about entrepreneurship, and developing en trepreneurial skills and abilities. The main reason of such broadness is to increase the generalizability of the model and make it available for the use of new studies in different contexts. When considering the variety of entrepreneurship education in all around the world, it might be more reasonable to analyse the general nature of entrepreneurship education, rather than focusing on a specific context. As it is mentioned previously, there is a great variety among universities on the entrepreneurial education even in the same country (GuÂÂ ¨ rol and Atsan, 2006, p. 27).

Parenting Styles and Discipline

Parenting Styles and Discipline There are three parenting styles and who you are as a parent has a lot to do with the way your child responds to you. The authoritarian parent values obedience. The rules are clear but inflexible. Misbehavior is strictly punished. In this type of environment, it is common for children to feel fearful and for parents to use fear as a teaching strategy. The authoritarian parent teaches the child what to think as opposed to how to think since the parent makes all decisions for the child. This parent uses reward and punishment to control the child’s behavior.An authoritarian style can have unintended side effects. When parents rigidly discipline, children can become rigid, obsessive and people-pleasing. They may experience shame and guilt. An authoritarian style doesn’t teach children healthy ways for managing emotions; the focus is on accepting authority rather than learning how to make choices and distinguish right and wrong. A permissive p arent allows children to learn the consequences of their actions for themselves, without providing guidance. There are no clear limits and misbehavior is often ignored.Unlike the authoritarian parent, the permissive parent offers little structure and few boundaries. Children have total freedom to act however they want. Often the parent is a slave to the child. While a permissive style of parenting may seem to support children’s creativity and provide a sense of being fully accepted, it lacks the structure they need to feel safe. Without limits, children can feel confused and insecure. It also robs the child of selfrespect and self-esteem by doing things for the child that the child can do for himself. It is an invitation for rebellion with inconsistent parenting.As with an authoritarian style, permissiveness doesn’t teach children how to handle their emotions in a healthy way. It also doesn’t support them in developing an internal moral compass. Having free lice nse to choose behavior without considering rules or the impact on other people sets children up for failure in their relationships and at school and work. In 1971 Diana Baumrind used the classifications of â€Å"Neglectful† and â€Å"Indulgent† parenting, instead of permissive, in Development Psychology Monographs. An authoritative parent is kind, but firm. Authoritative parents are respectful towards their children, and model this behavior.They set and enforce limits, clarify issues and give reasons for limits. They provide children with practice in making choices and guide them to see the consequences of their choices. They teach their children how to solve problems, even providing them with decision-making opportunities. These are essential skills in adulthood. Self-esteem flourishes as children learn to rely on their own abilities to determine right from wrong and to act accordingly. Parenting discipline has become a hugely debated subject. Discipline is often take n as a bad thing, however, discipline does not have to be automatically considered a punishment.Discipline by definition means; â€Å"Training expected to produce a specific character or pattern of behavior, especially training that produces moral or mental improvement. † Psychologist Dr. Leman spoke of â€Å"reality disciplinarians† that â€Å"try to be consistent, decisive, and respectful of their children as persons. † While holding their children accountable for their actions, they encourage their children to learn. The parent should communicate to their children that they love them even though they don’t always love their behavior by choosing their words wisely. There are unfortunately many cases where parenting discipline is overdone.Some of this wrong discipline is done with very good intentions, all the while thinking that it will make your child a better person. However, there is a very thin line between constructive and destructive parenting dis cipline. Hitting or screaming at a child in the name of discipline is never a good thing. Children are very sensitive and such discipline can mark and scar them forever with very dire consequences. Parenting discipline is more teaching, showing a child the right way to do something, not just imposing or forcefully making him perform some duty given by you.No matter how good the intention the method of discipline is extremely important. Parenting discipline is a delicate matter to be approached very carefully. Do not make the mistake to presume that if something worked for you it will be the same for your child or even if it worked on for one child the same will work for another. Find the right way to discipline your child so he will happily learn and apply the discipline taught by you. I find that parenting how one sees best is the right that comes with that of being a parent. It doesn’t do well to criticize someone else’s parenting style as inferior.Of course poor par enting may come back to cause harm to the child and even parents and society. Really each parent should strive to raise children with good attitude, behavior, and character by appropriate parenting and discipline. Works Cited â€Å"Definition of Discipline. † Discipline. http://education. yahoo. com/reference/dictionary/entry/discipline. Web. 20 Mar. 2013. Leman, Kevin. Making Children Mind without Losing Yours. Grand Rapids, MI: F. H. Revell, 2000. Print. Santrock, John W. Child Development – Thirteenth Ed. New York, NY: McGraw-Hill, 2011. Print.

Bank of Montrial Analysis - Free Essay Example

Sample details Pages: 2 Words: 648 Downloads: 4 Date added: 2017/09/23 Category Advertising Essay Type Argumentative essay Did you like this example? Running head: CASE STUDY ANALYSIS Introduction The root problem of Bank of Montreal was how they could focus each and every employee on the success of the company. BMO needed to meet the needs of the 4 shareholders: BMO shareholders, customers, employees, and communities. Case Questions Identify the strengths and weaknesses of a balanced scorecard approach to performance appraisal? The first strength of the BSC approach is a focus on the company’s strategic direction. A BSC approach helps management communicate the companys mission by linking performance measures to its mission and strategy. The balance scoreboard not only gives you a better idea of your workforce, but also creates better customer service for the customers involved. The balanced scorecard makes the CEOs of these companies make sure that their businesses are running accurately and if it is not, it will reflect in their pay. Thus, a good balanced scorecard identifies many cause-and-effect relationship s within the business and helps employees and managers appreciate the roles of employee and task as well as the importance of each result to the overall corporate effort. The balanced scorecard method is a form of checks and balances for a company to ensure that the needs of all four shareholders are met. Although there are many strengths to the balanced scorecard method, there are a few weaknesses. First, the balanced scorecard method might be too broad to truly judge performance. I believe that if a company deliberately tries to collect and report certain data measures then their report will most likely achieve good results. Second, I feel that BMO’s balanced scorecard puts too much emphasis on the company internally. I think that BMO should first focus on their SWOT analysis (strengths, weaknesses, opportunities, and threats) externally and then set internal performance measures that coincide with those goals. Question 2: Do you think it’s fair to base the bon us paid to BMO’s CEO on the four indexes comprising the firm’s balanced scorecard? Yes, I believe that it is fair to base the bonuses paid to the CEO on the four indexes on the balanced scorecard. If the firm had a high rating at the end of the year it meant that the company had met and accomplished the four goals. This also means the CEO did a great job of communicating his or her values down the corporate ladder. Therefore, the CEO should be rewarded on his performance. A firm is only as good as its worst employee. When BMO received a high rating it shows that the CEO demonstrated strong managerial and communication skills. Lastly, this initiative will force company CEO’s to become more involved in all the aspects of the company. The balanced scorecard makes the CEOs of these companies make sure that their business are running accurately and if it is not, it will reflect in their pay. Question 3: Do you believe that a balanced scorecard approach would be more effective for the administrative or for the developmental purposes of appraisal discussed in this chapter? First, I believe that a balanced scorecard approach is effective for both the administration and for developmental purposes of appraisal. On the other hand, the balanced scorecard approach seems to be more effective for the developmental purposes of appraisal. Identifying needs and concerns the firm’s employees far outweighs the administrative purposes. The appraisal process provides managers and employees with the opportunity to discuss ways to build on their strengths, eliminate potential weaknesses, identify problems, and set new goals for achieving high performance. (Book) This is important because it is more focused on the whole firm rather on broad aspects of it. I believe that a successful company works from the ground up. Therefore, if all the employees start to improve then the whole company will improve. References References should be on a separate re ference page with citations listed and formatted per APA guidelines. Don’t waste time! Our writers will create an original "Bank of Montrial Analysis" essay for you Create order