Entrepreneurial Intention as Impacted by Knowledge and Experience of Failures among East African Businesses.
Keywords:
Entrepreneurial Intention, Business failure, Post failure phaseAbstract
The thesis focuses on post-failure phase entrepreneurial intention and the influence of business failure information accessibility, demonstrated knowledge, and first-hand experience of business failure, insolvency, and personal bankruptcy. It aims to understand how these factors affect entrepreneurs' intentions to start new businesses after experiencing failure. The study is set within the Theory of Planned Behaviour (TPB), a well-established psychological theory that predicts human behaviour, particularly in the context of entrepreneurship. It seeks to provide empirical evidence that business failure awareness positively contributes to the know-how and resilience of individuals currently running a business with aspirations to start a new business. This study finds a positive association between awareness of business failure and the intentions of current business owners. It also shows that this awareness contributes to the knowledge and resilience of individuals running a business and those aspiring to start a new one.
References
Ajide, F.M. (2022), "Economic complexity and entrepreneurship: insights from Africa", International Journal of Development Issues, Vol. 21 No. 3, pp. 367–388. https://doi.org/10.1108/IJDI-03-2022-0047
Ajzen, I. (1988). Attitudes, personality, and behavior (1st ed.). Milton Keynes: Open University Press.
Ajzen, I. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T
Al Halbusi, H., AbdelFattah, F., Ferasso, M., Alshallaqi, M. and Hassani, A. (2023), "Fear of failure for entrepreneurs in emerging economies: stress, risk, finances, hard work, and social support", Journal of Small Business and Enterprise Development, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JSBED-01-2023-0035
Bird, B. (1988). Implementing Entrepreneurial Ideas: The Case for Intention. Academy of Management Review, 13(3), 442–453. https://doi.org/10.5465/amr.1988.4306970
Boafo, C., Catanzaro, A. and Dornberger, U. (2023), "International entrepreneurship in Sub-Saharan Africa: interfirm coordination and local economy dynamics in the informal economy", Journal of Small Business and Enterprise Development, Vol. 30 No. 3, pp. 587–620. https://doi.org/10.1108/JSBED-02-2021-0065
Bosma, N., Hill, S., Ionescu-Somers, A., Kelly, D., Levie, J., & Tarnawa, A. (2020). Global Entrepreneurship Monitor 2019/2020 Global Report. Global Entrepreneurship Research Association (GERA), London. Retrieved from https://www.gemconsortium.org/
Byrne, O. (2021), "The Rites of Passage of Business Failure: A Socialized Sensemaking Approach", in Todt, G., Backmann, J. and Weiss, M. (Ed.), Work Life After Failure?, Emerald Publishing Limited, Leeds, pp. 59–79. https://doi.org/10.1108/978-1-83867-519-620211005
Clardy, A. (2022), "What can we know about the future? Epistemology and the credibility of claims about the world ahead", Foresight, Vol. 24 No. 1, pp. 1–18. https://doi.org/10.1108/FS-01-2021-0020
CoEC. (2007). Overcoming the stigma of business failure - for a second chance policy. Brussels.
Cope, J. (2011). Entrepreneurial learning from failure: An interpretative phenomenological analysis. Journal of Business Venturing, 26(6), 604–623. https://doi.org/10.1016/j.jbusvent.2010.06.002
Corner, P. D., Singh, S., & Pavlovich, K. (2017). Entrepreneurial resilience and venture failure. International Small Business Journal, 35(6). https://doi.org/10.1177/0266242616685604
Damaraju, N.L., Barney, J.B. and Dess, G.G. (2023), "Cultural influences on stigma of failure and entrepreneurial activity", Organization Management Journal, Vol. 20 No. 5, pp. 197–209. https://doi.org/10.1108/OMJ-01-2023-1711
Espinoza-Benavides, J., Guerrero, M. and Díaz, D. (2021), "Dissecting the ecosystems’ determinants of entrepreneurial re-entry after a business failure", European Business Review, Vol. 33 No. 6, pp. 975–998. https://doi.org/10.1108/EBR-09-2020-0222
Githaiga, P.N. and Kosgei, J.K. (2023), "Board characteristics and sustainability reporting: a case of listed firms in East Africa", Corporate Governance, Vol. 23 No. 1, pp. 3–17. https://doi.org/10.1108/CG-12-2021-0449
Greiner, L. E. (1972). Evolution and revolution as organizations grow. Harvard Business Review, 50(4), 37–46.
Hisrich, R. D., Peters, M. P., & Shepherd, D. A. (2017). Entrepreneurship (10th ed.). New York: McGraw-Hill Education.
Howell, N., & Mason, R. (2015). Reinforcing stigma or delivering a fresh start: Bankruptcy and future engagement in the workforce. University of New South Wales Law Journal, 38(4), 1529–1574.
Hoyte, C. and Noke, H. (2023), "Making sense of identity transitioning within the new venture creation process", International Journal of Entrepreneurial Behavior & Research, Vol. 29 No. 8, pp. 1741–1762. https://doi.org/10.1108/IJEBR-06-2021-0501
Kolvereid, L. (1996). Organizational employment versus self-employment: Reasons for career choice intentions. Entrepreneurship Theory and Practice, 20(3), 23–31. https://doi.org/10.1177/104225879602000302
Krueger, N. F., & Carsrud, A. L. (1993). Entrepreneurial intentions: Applying the theory of planned behaviour. Entrepreneurship & Regional Development, 5(4), 315–330. https://doi.org/10.1080/08985629300000020
Kuratko, D. F., Frederick, H. H., & O’Connor, A. (2017). Entrepreneurship: Theory/Process/Practice (10th ed.). Boston, MA: Cengage Learning.
Kusa, R., Suder, M., Duda, J., Czakon, W. and Juárez-Varón, D. (2023), "Does knowledge management mediate the relationship between entrepreneurial orientation and firm performance?", Journal of Knowledge Management, ahead-of-print. https://doi.org/10.1108/JKM-07-2023-0608
Munir, H., Ramzan, S., Wang, M., Rasool, Y., Sumbal, M.S. and Iqbal, A. (2022), "Combining the social cognitive career theory...", Journal of Entrepreneurship in Emerging Economies, 14(3), 392–421. https://doi.org/10.1108/JEEE-10-2020-0367
National Innovation & Science Agenda. (2015). Insolvency reform.
Ndofirepi, T.M. and Steyn, R. (2023), "An international study of early-stage entrepreneurship...", Journal of Small Business and Enterprise Development, 30(7), 1329–1351. https://doi.org/10.1108/JSBED-02-2023-0066
Ning, E.N. (2021), "Entrepreneurship and Economic Development in Africa: A Paradox", in Nziku & Struthers (Ed.), Emerald, pp. 15–37.
Nwosu, B. and Esara, E. (2023), "Internationalisation of Indigenous Agribusiness in Africa...", Emerald, pp. 205–223.
Petrucci, F. and Milanesi, M. (2022), "It ain’t over till it’s over...", Journal of Business & Industrial Marketing, 37(13), 64–76. https://doi.org/10.1108/JBIM-12-2020-0537
Quagrainie, F.A. and Dankwa, A.A. (2023), "Different shades of learning...", Journal of Entrepreneurship in Emerging Economies, ahead-of-print. https://doi.org/10.1108/JEEE-06-2022-0172
Schwaiger, K., Zehrer, A. and Spiess, T. (2022), "The influence of symbolic and instrumental attributes...", Journal of Hospitality and Tourism Insights, 5(3), 567–587. https://doi.org/10.1108/JHTI-12-2020-0234
Shane, S. (2004). A General Theory of Entrepreneurship. Cheltenham: Edward Elgar Publishing.
Shane, S., Kolvereid, L., & Westhead, P. (1991). Journal of Business Venturing, 6(6), 431–446. https://doi.org/10.1016/0883-9026(91)90029-D
Singh, S., Corner, P. D., & Pavlovich, K. (2015). Journal of Business Venturing, 30, 150–166. https://doi.org/10.1016/j.jbusvent.2014.07.005
Srivastava, M., Shivani, S. and Dutta, S. (2023), Journal of Small Business and Enterprise Development, ahead-of-print. https://doi.org/10.1108/JSBED-03-2023-0105
Ucbasaran, D., Shepherd, D. A., Lockett, A., & Lyon, S. J. (2013). Journal of Management, 39(1), 163–202. https://doi.org/10.1177/0149206312457823
Wang, H., Zheng, C., Wu, W. and Sui, F. (2022), Journal of Organizational Change Management, 35(7), 1125–1146. https://doi.org/10.1108/JOCM-10-2021-0313
Watson, J., & Everett, J. E. (1996). Journal of Small Business Management.
Westhead, P., Ucbasaran, D., & Wright, M. (2005). International Small Business Journal, 23(1), 72–98. https://doi.org/10.1177/0266242605049104
Yeboah-Assiamahet, E., Hossain, F., Mamman, A. and Rees, C.J. (2023), African Journal of Economic and Management Studies, 14(2), 289–312. https://doi.org/10.1108/AJEMS-05-2022-0184
Downloads
Published
Issue
Section
License
Copyright (c) 2024 SIRI XAVIER, ABEID SALIM
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Published by University Tun Abdul Razak (UNIRAZAK)
