Influential Factors on Individuals to Become Entrepreneurs

This research proposal focuses on the influential factors that lead individuals to become entrepreneurs. It explores the skills and capabilities needed for success in entrepreneurship. The proposal also includes a literature review and proposed research methodology.

RESEARCH
PROPOSAL

Table of Contents
Research Topic - Entrepreneurship : "What are influential factors on individuals to become
entrepreneurs?” ...............................................................................................................................1
Introduction......................................................................................................................................1
Theoretical background and research focus.....................................................................................1
Research aim and objectives.......................................................................................................1
Research questions and hypothesis.............................................................................................2
Literature review.........................................................................................................................2
To review about the conception of Entrepreneurship.................................................................2
To evaluate the influential factors that lead impact on individuals to become entrepreneurs....3
To determine the skills and capabilities which supports an individual to become a successful
entrepreneur................................................................................................................................3
Justification and contextualization...................................................................................................4
Methodology ...................................................................................................................................6
Proposed research methodology ................................................................................................6
Access and ethics .......................................................................................................................9
Limitations or downsides of selected research strategy..............................................................9
REFERENCES..............................................................................................................................10
Appendix I: Questionnaire.............................................................................................................10

Research Topic - Entrepreneurship : "What are influential factors on
individuals to become entrepreneurs?”
Introduction
In broader scene the conception of entrepreneurship is associated with the creation of
value through extraction and proper use of available resources. Entrepreneurship is mainly
related with ability and capabilities of an individual to come up with new and better ideas to
build and create business venture with the main aim of scaling and generating profit. The current
research project is focused on the topic of Entrepreneurship along with evaluating influential
factors on individuals that support and directs them to become entrepreneurs (Yukongdi and
Lopa, 2017). This investigation comprises of determining the skills and capabilities that are
needed in an individual to become a successful entrepreneur. Thus, current investigation is of
great significant as leads to analysis of factors that leads to creation of entrepreneurship that is
vital to bring economic innovation and development. This research proposal comprises of setting
objectives and research questions to provide a set duration and framework for current
investigation. Further, analysis and evaluation of online articles and journals are also forms apart
of this proposal which is stated in the literature review section to provided better base and
framework for current dissertation. Further, a description about proposed research methodology
along with set limitation and ethical implication are also included in current dissertation
proposal.
Theoretical background and research focus
Research aim and objectives
Aim of the research
The main aim associated with current dissertation is, “To develop a better understanding
about the concept of entrepreneurship along with evaluating the influential factors that lead
impact on individuals to become entrepreneurs”
Objectives of research
 To review about the conception of Entrepreneurship
 To evaluate the influential factors that lead impact on individuals to become
entrepreneurs
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 To determine the skills and capabilities which supports an individual to become a
successful entrepreneur.
Research questions and hypothesis
 What is meant by the conception of entrepreneurship?
 Which are the influential factors that lead impact on individuals to become
entrepreneurs?
 What are the skills and capabilities which supports an individual to become a successful
entrepreneur?
Literature review
This section or chapter of current dissertation is mainly associated with analysis and
survey of various literature available to set a framework and base for current investigation
(Singh, Verma and Rao, 2016). Use and implication of online article and journals are made for
current investigation to get better understanding and awareness about selected topic based on
Entrepreneurship : "What are influential factors on individuals to become entrepreneurs?”. An
analysis and evaluation of these online articles and journals are provided below that are
describing and providing information about selected research topic and its objectives.
To review about the conception of Entrepreneurship
As per the information provided by the Ronald Kimmons, 2019, entrepreneurship is
basically a act of setting and launching out of a new business and starting a firm along with
bearing all associated risk and enjoying maximum share of profit. Thus, entrepreneurship is
defined as a behaviour and act of an individuals who has ability and desires to come up with new
and innovative ideas to establish, administer and run a start-up venture through utilising existing
opportunity by the way of taking risk in order to earn and get maximum profit in return. An
entrepreneurship venture could be various kinds which comprises of small business, scalable
start-ups, large company along with social entrepreneurship. Beside this, it has been also
evaluated that entrepreneurship is a complex task and process which includes many dimension
for developing and managing a business venture which consists of taking risk, financial and
emotional investment along with organisation and delegation of work. Thus, an analysis can be
drawn that many skills and characteristics are their which are associated with entrepreneurship
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which consists of innovation, visionary and leadership quality, open minded and effective
communication (Mahto and McDowell, 2018).
To evaluate the influential factors that lead impact on individuals to become entrepreneurs
According to the view point of Ryan Griffee, 2019, many biological and external factors
are there which lead influence and impact on an individual to become an entrepreneur. The
factors which are taken as key influence and desires that lead impact on individuals to become an
entrepreneur comprises of following main aspects which are discussed and evaluated below:
Creativity level and accumulation of idea- To become an entrepreneur it is necessary
and essentially required to have a original wheel creator and ability to come up with new ideas
and making innovation and improvement in existing ones. Thus, the main biological factor that
lead influence on individual to become an entrepreneur comprises of creativity level to think and
come up with better ideas along with ability to accomplish and implement that ideas in great one
and better than other to become a successful and viable entrepreneur.
Responsiveness towards opportunity- The another factor that lead influence over an
individuals to become an entrepreneur comprises of quick responsiveness and faster reaction to
grab all existing and fore-sighting opportunity to exploit and utilise them for making higher
profits. Thus, responsiveness towards opportunity is also a key factor that influence individuals
to respond towards opportunity prevails in market to see and take advantage of new and
upcoming possibilities to become an entrepreneur (Jabeen, Faisal and Katsioloudes, 2017).
Family background- The another external factor that lead influence on individual to
become entrepreneur comprises of their family background and economical and financial status.
It has been analysed that personal background and life experience of an individuals also lead
significant impact on decision of becoming entrepreneur as they have high effect on businesses
which can hinder or foster success of a venture. Apart from this, an evaluation can be made that
involvement of family members in entrepreneurial activities and business ventures can lead to
significant influence on individuals to lead invention in venture creation and also view an
strength in form of higher motivation and support (Eesley and Wang, 2017).
To determine the skills and capabilities which supports an individual to become a successful
entrepreneur
As per the view point of Helen Al Uzaizi, there are many behaviours and skills which
defines a successful entrepreneur and support an individual to overcome all hurdles and obstacles
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to become an effective entrepreneur. These skills and characteristics shape an individuals and
engage them to come up as successful entrepreneur a discussion and evaluation of which is
provided below:
Communication skill- It is most vital and essentially required capability for an
individuals to support to become a successful entrepreneur as being an entrepreneur an
individuals is required to interact and come in contact with many people comprises of its clients,
employees, partners and other associated parties. Thus, effective communication skill is must
and essentially required by an individual to become successful entrepreneur as it facilitates a
capability to influence and attract people for availing benefits and accomplishing desired gaols
by way of better interaction and coordination in action (Do and Dadvari, 2017).
Leadership and motivation skills- The another capability required in an individual to
support and direst to become successful entrepreneur consists of effective leadership and
motivation skill. Implication and utilisation of leadership and motivation skills facilitates and
ensures an enhanced capabilities to direct and influence individuals for better performance and
also leads better management of resources through leading coordination between them to support
more successful business ventures and entrepreneur.
Positivity and creativity- The another capability and skill required by individual which
support success for entrepreneur comprises of a positivity behaviour along with high level of
creativity and risk tolerance capability. Positive attitude helps an individual to bear all possible
risk associated with grabbing an opportunity thus, facilitates higher opportunity for success of
entrepreneur. Further, creativity skills facilitates and ensures ability to come up with new and
more innovative ideas to support an individuals for success of entrepreneur (Rocha, and Van
Praag, 2020).
Justification and contextualization
The current research topic is important and rationale as entrepreneurship is a vital and
important concept that leads to a development of business ventures which solves and overcome a
large number of economic and financial issues. Thus, evaluation of factors that lead influence on
an individual to become an entrepreneur is vital and justifiable. Further, the importance of
current investigation also comprises of facts and evidence that creation of employment and
positive impact on society and development of community are some of the main importance of
entrepreneurship which enhance the scope and rationality of current research work (Herman and
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Stefanescu, 2017). Beside this, an entrepreneurship is also associated with implication of new
idea that enhanced innovation and creativity level to provided better quality product and services
at relevant level of prices which increase standard of living supports more effective research and
development in economy.
With current investigation an effort is made to evaluate about the conception of
entrepreneurship along with determining the factors that lead influence on an individuals to
become an entrepreneur. Beside this, an evaluation of skills and capabilities required to become a
successful entrepreneurs are also consists in current investigation that is viable to build enhanced
evidence on the basis of existing body of evidence. Apart from this, leading out of current
investigation is also important and viable from personal aspects of researcher as ensures better
development of managerial skills and enriched experience which makes selection of current
research topic more conceptual and justifiable as ensures accomplishment of educational and
personal interest of researcher.
To ensures timely accomplishment of current investigation use and imbrication of Gantt
chart is made which provides more systematic and better presentation of tasks and activities.
Gantt chart ensures proper bifurcation of time duration in various activities and task to ensure
timely accomplishment and completion of current dissertation. Below stated Gantt chart has been
used by researcher to ensure efficiency and timely achievement of current objectives.
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Methodology
Proposed research methodology
This section of dissertation is associated with presentation of proposed methodology that
could be used by researcher to perform an investigation and study in more effective and better
way. Many dimension are included in the research methodology section of dissertation thus, use
and implication of research onion is made for selection for research methodology for current
investigation.
Illustration 1: Research Onion, 2020.
Research Philosophy – This forms the first layer of model of research onion which is
divided and further bifurcated into four main types comprises of realism, positivism,
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interpretivism and pragmatism (Feder and Niţu-Antonie, 2017). Selection of viable research
philosophy is made by investigator with respect to the nature of study. In context of current study
on entrepreneurship implication and utilisation of positivism research philosophy is most suitable
and viable as it leads to a systematic form of investigation through supporting numeric facts and
data.
Research approach- This forms second layer of model of research onion which is
divided into two common form which comprises of deductive and inductive kind of approach.
The deductive approach is based on information pattern and consist of testifying hypothesis
theory which starts with small and gets bigger. Inductive approach is mainly a board theory
based on observation and conformation of set theories thus, it is more complex and time
consuming. Therefore, for current study and dissertation adoption of deductive approach is more
suitable and justifiable as it starts with set objectives and ensures development of information
and pattern in numeric terms that facilitates more easy testing and scanning of set objectives to
achieve desired results in more efficient manner (Miralles, Giones and Riverola, 2016).
Research design and strategy- Blueprint and complete framework of investigation is
constitutes as research design that facilitates information about the strategy and ways used for
collection, analysis and measurement of data to accomplish set targets. The main research design
and strategy comprises of experimental research, theoretical research, action research, case
study, survey, ethnography, grounded theory, etc (Eesley and Wang, 2017). Out of these types of
research design and strategy utilisation of survey strategy is made as it lead to collection and
gathering of more abundant and reliable information through use of questionnaire. Beside this,
justification for selection survey strategy comprise of evidences that facilitates and ensures a
most relevant and efficient way of conducting investigation through leading simplest and easy
collection of data and information.
Choices of Method- It is a vital layer of research onion that facilitates most credible
information about the process and techniques that are utilized for collection of data and
facilitates evidence for analysis of information to uncover and evaluate new information and
better understanding of specific topic. The main categories and types of research ,methods
consists of qualitative and quantitative method of research along with a mixed method that
makes utilisation of both qualitative and quantitative method (Jabeen, Faisal and Katsioloudes,
2017). With regard to the nature of current dissertation and to ensures its timely accomplishment
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adoption of quantitative form of method of more suitable and justifiable. Utilisation of
quantitative method leads to collection of numeric fats and data that is say and more efficient to
collect and analysis and also enureses a better presentation and communication of measurable
facts and results to draw a better conclusion.
Time Horizons- This section and layer of research onion is mainly associated with the
time frames of an investigation which is divided into two main formas and categories i.e. cross
sectional time horizons and Longitudinal horizons of time. Out of these two commonly used time
frames implication and utilisation of cross sectional time horizons are made as it facilitates an
easy study of particular phenomenon in shorter interval of time (Mahto and McDowell, 2018).
Thus, selection of cross sectional time horizons is efficient and justifiable to accomplish current
dissertation in provided time frames with accurate specification and estimation time.
Data collection and analysis – Commonly there are two main sources from where data
can be collected and gathered by a researcher which comprises of secondary and primary sources
of collection of data. In order to maintain the authenticity and reliability of current dissertation
utilisation both primary and secondary sources would be made. The justification for use of
primary sources of data collection comprises of the fact that it ensures collection of first hand
data directly from the respondents thus, eliminates the chances of biasness and unauthentic
information. Beside this, gathering of information from secondary sources is also suitable and
justifiable for current dissertation as it offer a base and framework for investigation through
facilitating information about the past facts and figures (Singh, Verma and Rao, 2016). For
collection of primary data, use and implication of a questionnaire is made where as secondary
information comprises of evaluation and analysis of available of online articles and journals is
made which are related with specifically selected dissertation topic.
Sample method- It is a statistical tool associated with selection and choosing of pre
determined number of observation and set of units for accomplishment and conducting a study
(Yukongdi and Lopa, 2017). With respect to current dissertation a sample size of 50 responders
has been selected with the help of random sampling method to collect information for current
study. Choice of random sampling method eliminates the chances of discrimination while
selection of set of observation to enhance and maintain the reliability and authenticity of current
investigation.
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Access and ethics
To assess the selected respondents for current investigation use of online communication
channels would be made which comprises of e-mails, social media, etc. to ensure efficient
collection of data and information for study. Maintaining ethical consideration is also viable and
necessary for a researcher while leading an investigation thus, adoption of BERA code ethics are
made to ensures that none of research activity should not harm any individual or participants
neither physically nor emotionally. Apart from this, an option of avoiding questions form
questionnaire is also provided to participants to maintain the ethical consideration in current
dissertation. Beside this, provision of data protection act are also implicated and utilized by
researcher during current investigation to ensure protection and safety of collected information.
Limitations or downsides of selected research strategy
The main limitation and downside of selected research strategy is associated with
selection of viable sample size as the time required for conducting an investigative and quantity
of information is directly dependent on the number of respondents selected for study. Apart from
this, lack of sufficient resources and inadequate availability of time is also a major downside of
selected research strategy. Thus, to overcome these issues adoption of random sampling method
is made to select viable number of respondents. Further, use of Gantt chart also offend an
efficient way to manage time through its proper allocation of time duration for various task and
activity.
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REFERENCES
Books and Journals
Yukongdi, V. and Lopa, N.Z., 2017. Entrepreneurial intention: a study of individual, situational
and gender differences. Journal of Small Business and Enterprise Development.
Singh, B., Verma, P. and Rao, M. K., 2016. Influence of individual and socio-cultural factors on
entrepreneurial intention. South Asian Journal of Management. 23(1). p.33.
Mahto, R.V. and McDowell, W.C., 2018. Entrepreneurial motivation: a non-entrepreneur’s
journey to become an entrepreneur. International Entrepreneurship and Management
Journal. 14(3). pp.513-526.
Jabeen, F., Faisal, M. N. and Katsioloudes, M. I., 2017. Entrepreneurial mindset and the role of
universities as strategic drivers of entrepreneurship. Journal of Small Business and
Enterprise Development.
Eesley, C. and Wang, Y., 2017. Social influence in career choice: Evidence from a randomized
field experiment on entrepreneurial mentorship. Research Policy. 46(3). pp.636-650.
Do, B.R. and Dadvari, A., 2017. The influence of the dark triad on the relationship between
entrepreneurial attitude orientation and entrepreneurial intention: A study among
students in Taiwan University. Asia Pacific Management Review. 22(4). pp.185-191.
Rocha, V. and Van Praag, M., 2020. Mind the gap: The role of gender in entrepreneurial career
choice and social influence by founders. Strategic Management Journal. 41(5). pp.841-
866.
Herman, E. and Stefanescu, D., 2017. Can higher education stimulate entrepreneurial intentions
among engineering and business students?. Educational Studies. 43(3). pp.312-327.
Feder, E.S. and Niţu-Antonie, R.D., 2017. Connecting gender identity, entrepreneurial training,
role models and intentions. International Journal of Gender and Entrepreneurship.
Miralles, F., Giones, F. and Riverola, C., 2016. Evaluating the impact of prior experience in
entrepreneurial intention. International Entrepreneurship and Management
Journal. 12(3). pp.791-813.
Online :
Ronald Kimmons. 2019. What Are the Basic Concepts & Characteristics of Entrepreneurship?.
[Online]. Available through: <https://smallbusiness.chron.com/basic-concepts-
characteristics-entrepreneurship-18526.html>
Ryan Griffee. 2019. 5 Key Factors That Influence Entrepreneurship. [Online]. Available through:
<https://smallbusiness.chron.com/5-key-factors-influence-entrepreneurship-
18541.html>
Helen Al Uzaizi. 2017. Eight Skills Every Entrepreneur Needs To Develop For Business (And
For Life). [Online]. Available through: <https://www.entrepreneur.com/article/290500>
Appendix I: Questionnaire
Questionnaire
Q1) Are you having awareness regarding the conception of entrepreneurship?
a) Yes
b) No
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c) Neutral implication
Q2) Which aspects represent the importance of entrepreneurship in current business
scenario and economic conditions?
Yukongdi, V. and Lopa, N.Z., 2017. Entrepreneurial intention: a study of individual, situational
and gender differences. Journal of Small Business and Enterprise Development.a) Creation of
more employment opportunity
b) Higher standard of living
c) More economic suitability and development
d) Higher creativity and innovation
Q3) What are the main form and types of entrepreneurial venture that exist in an
economy?
a) Small business
b) Scalable start-ups
c) Large company
d) Social entrepreneurship
e) all of the above
Q4) Are you agreed with the fact that some influencing factors are there which lead
impact on individuals to become an entrepreneur?
a) Agreed
b) Disagreed
c) No view point
Q5) Which one are the main internal factor that lead influence on an individual to become
an entrepreneur?
a) Responsiveness towards opportunity
b) Ability to take risk
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c) Family background
d) Self interest and desires
Q6) What are the other external factors that also influence decision of an individual to
become an entrepreneur?
a) Political stability
b) Economic growth and development
c) Availability of finance
d) Employment level
Q7) What implication are you having regarding the evidence that some skills and
enhanced capabilities are essentially needed in an individual in order to support successful
entrepreneur?
a) Yes
b) No
c) Neutral view point
Q8) Which one is the most vital skill and capability which supports an individual to
become successful entrepreneur?
a) Communication skill
b) Time management skill
c) Creativity and innovation
d) Positivity and risk tolerance
e) Effective leadership and coordination
Q9) Is family background and personal life experience also plays a vital role in supporting
successful entrepreneur?
a) Yes
b) No
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Q10) What could be other recommended skills and capabilities that could be develop by
an individual to become more efficient and successful entrepreneur?
a) Flexibility
b) Decisiveness
c) Versatility
d) Persuasiveness
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