The Entrepreneurial Orientation of Z Generation on New Business Venture

Running head: THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON
NEW BUSINESS VENTURE
The Entrepreneurial Orientation of Z Generation on New Business Venture
Name of the Student
Name of the University

2
THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON NEW BUSINESS
VENTURE
Table of Contents
Chapter 1: Introduction..............................................................................................................4
1. 1 Background of the Study.................................................................................................4
1.2 Rationale of the Study......................................................................................................5
1.3 Research Objectives.........................................................................................................6
1.4 Research Questions..........................................................................................................6
Chapter 2: Literature Review.....................................................................................................7
2.1 Gen Z................................................................................................................................7
2.2 Generation Z being a kind of employee...........................................................................9
2.3 Generation Z- Characteristics and Age range................................................................12
Chapter 3: Research Methodology...........................................................................................15
3.1 Introduction....................................................................................................................15
3.2 Method Outline..............................................................................................................15
3.3 Research Philosophy/Paradigm......................................................................................16
3.4 Research Approach........................................................................................................18
3.4.1 Usage of Deductive approach and its Justification.................................................18
3.5 Design of the Research...................................................................................................19
3.6 Methods for the collection of the data............................................................................20
3.7 Analysis of the data........................................................................................................21
3.8 Sampling........................................................................................................................22
3.9 Ethical Consideration.....................................................................................................22
Theoretical Approaches.......................................................................................................23

3
THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON NEW BUSINESS
VENTURE
Timeline...................................................................................................................................23
Chapter 4: Data findings and Analysis.....................................................................................25
4.1 Quantitative Analysis.....................................................................................................25
Chapter 5: Conclusion and Recommendations........................................................................35
5.1 Conclusion......................................................................................................................35
5.2 Recommendations..........................................................................................................37
References................................................................................................................................39

4
THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON NEW BUSINESS
VENTURE
Chapter 1: Introduction
1. 1 Background of the Study
The newest group of workforce filled with Gen Z entering the organizations are more
likely to steer the business ventures by manifesting entrepreneurial behavior. In addition to
that, these people are starting new business ventures focusing a great deal on pursuing
entrepreneurship. In fact, Ensari (2017) has suggested that the Z generation is poised to be the
most entrepreneurial generation in the history. The ‘Z Generation’ or more popularly known
as ‘Generation Z’, refers to the newest generation born between the years 1995 to 2015.
According to Seemiller and Grace (2017), Generation Z is the generation after Millennial
with people aged from 2 to 24 years. The generation Z is typically the newest entrance to the
modern workforce. On the other hand, EO or Entrepreneurial Orientation, initially defined by
Miller, captures the managerial philosophies, strategy making practices, professional business
behaviors, and product market innovation as well as showcases the capability to become
innovative and proactive (Papulová and Papula, 2015). According to multiple researches
conducted in the recent years, the Gen Z is more inclined towards pursuing entrepreneurship.
This generation has been witnessing enhanced use of technology in the market. There have
been various smartphones, broadband internet access at home which have been helping
Generation Z students to gather more data and information in their age. Internet access has
helped in providing data and knowledge with a click. As per the Institute of Emerging Issues
(2012), the Generation Z has been the most ethnically diverse and technologically sound
generation. This generation has an informal and individual way of social networking in their
lives. Generation Z has been trustworthy and entrepreneurial and less motivated by
Generation Y. There are a number of factors that are significantly contributing towards
developing and empowering an entrepreneurial mindset amongst the Gen Z teens. The
present study aims to investigate the various factors and aspects that are potentially

5
THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON NEW BUSINESS
VENTURE
contributing towards the entrepreneurial Gen Z teens. In addition to that, the study will also
reflect on the level of entrepreneurial mindset that this Gen Z has in terms of executing new
or existing business ventures. As commented by Ozkan and Solmaz (2015), Generation Z has
been focusing in working ethics and ignoring them could result to frustration among different
individuals, reduce in productivity and lack in employee engagement. They have been
expecting to get informed and allowed to response and get acknowledged.
1.2 Rationale of the Study
The primary purpose of the study is to understand the relation of Gen Z with
entrepreneurship. According to several studies conducted in the recent past, Gen Z teens tend
to become more focused on money saving, being pragmatic, are mobile natives and avid
users of social media. Unfortunately, these Gen Z teens are growing up at the time of
recession, which potentially leads to adopt an entrepreneurial mindset (Zhang and Acs,
2019). Typically, this generation of youth suffers from recession and student loan crisis,
which makes them choose unorthodox career paths. The study aims to unveil the major
factors that acts as the driving forces for Gen Z teens to become entrepreneurs. On other
words, the research is conducted in order to study the entrepreneurial orientation (EO) of this
newest group of workforce in new business ventures (Williams, 2015). They have been
preferring work environment for learning professionalism development opportunities that
might help in opening new business ventures. Work place has been encouraging
entrepreneurial skills and knowledge that led to entrepreneurial businesses. They have been
preferring workplaces to adjust themselves according to support provided by their seniors at
workplace. They have been realistic about their work and expectation and optimistic in the
future. As per the findings of Seemiller and Grace (2016), Generation Z has been impatient,
lack in ambition and have high dependency on technology. Generation Z are more concerned
with several environmental issues including water shortages. This has been showing high

6
THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON NEW BUSINESS
VENTURE
sense of responsibility towards natural resources. Technology has been an important part of
their identity and they are tech savvy people. This research will focus on the interpretation of
Generation Z on new venture in the market.
1.3 Research Objectives
The research objectives for the study are formulated below:
 To understand the relationship between Gen Z and entrepreneurship
 To identify the major factors that drive Gen Z to adopt entrepreneurial mindsets
 To measure the EO (Entrepreneurial Orientation) of the Gen Z teens in business
ventures
1.4 Research Questions
Based on the research objectives, the research questions are formulated as follows:
 What is the relationship between Gen Z and entrepreneurship?
 What are the major factors that drive Gen Z to adopt entrepreneurial mindsets?
 What is the EO (Entrepreneurial Orientation) of the Gen Z teens in business ventures?

7
THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON NEW BUSINESS
VENTURE
Chapter 2: Literature Review
2.1 Gen Z
The potential value of studying the entrepreneurial orientation of Gen Z in the
workplace and in new business ventures is highly beneficial for the companies who works
with the Gen Z. in addition to that, the present business market is focused on a consumer base
where the majority of the population belongs to Gen Z (Singh and Dangmei, 2016).
Therefore, it is significantly crucial to understand the entrepreneurial behavior of the Gen Z
teens in the workplace, as it highly drives a countries economic and socio-economic
positions. Moreover, this study will also help in gaining useful knowledge to help the
business firms in building strategies to utilize the huge Gen Z talents. The potential value of
studying the entrepreneurial orientation of Gen Z in the workplace and in new business
ventures is highly beneficial for the companies who works with the Gen Z. in addition to that,
the present business market is focused on a consumer base where the majority of the
population belongs to Gen Z (Singh and Dangmei, 2016). Therefore, it is significantly crucial
to understand the entrepreneurial behavior of the Gen Z teens in the workplace, as it highly
drives a countries economic and socio-economic positions. Moreover, this study will also
help in gaining useful knowledge to help the business firms in building strategies to utilize
the huge Gen Z talents.
The fundamental purpose behind the investigation on the Z generation business in the
workplace is to effectively discuss the possible benefits and the advantages which has been
addressed due to the incorporation of the enterprise orientation of the Z generation in the
respective work environment (Solaja & Ogunola, 2016). Followed by these aspects this paper
has primarily focused on the applications of the Z generation businesses as well as it has also
elaborated the influence of Z gen by comparing it with the other previous generations.

8
THE ENTREPRENEURIAL ORIENTATION OF Z GENERATION ON NEW BUSINESS
VENTURE
Considering the above aspects a detail investigation on generations of the modern world it
has been identified that there are five most significant generations present in the modern
world which includes the Silent Generation which has started from the year 1928 to 1944,
next the Baby Boomer Generation which has started from the year 1945 to 1965, from the
year 1965 to the year 1979 the generation X has taken place as well as the Y generation has
started from the 1980 to the 1995 and finally the Z generation has started its journey after the
year 1995 till now (Clark, 2017). Studies has also mentioned that in the Silent Generation the
workflow followed by obeying the higher authority as it was based on the top-down
approach.
Followed by this the next generation termed as the Baby Boomer generation which as
primarily tend to be workaholics as it was identified that this generation of enterprise
operations mainly believes in the excessive hard work and dedication (Bassiouni & Hackley,
2014). Along with that while investigation the working process of X generation it has been
noticed that comparing with the previous generations this generation holds significant growth
towards maintaining the balance in the workplace by making the employs comfortable with
each other as well as with the higher authorities. Followed by the above generation in the Y
generation it has been noticed that the basic enterprise operations are mainly based on the
profitability as well as the utilization of the advance technologies (Mohr, 2017). After
successfully investigating the above generations it has been observed that there are many
differences present in the enterprise orientation as in the Z generation the organizational
operations are mostly performed by the mobile devices as well as it works with maintaining
the communication and based on the ethical considerations as well (Heng & Yazdanifard,
2013). Along with the above statement studies has mentioned that the business venture of Z
Gen is fundamentally based on the digitization process, which has been initiated mostly in
between the time duration of 1990 to 2000 as in between this time interval one of the most