Impact of Entrepreneurship Characteristics on Business Success

This report investigates the impact of entrepreneurship characteristics on business success, mediated by risk-taking behavior, within the Malaysian context. The study includes an introduction outlining the research aim, objectives, and questions. A comprehensive literature review explores key concepts such as entrepreneurship characteristics, organizational success, and risk-taking behavior, along with empirical studies and a conceptual framework. The methodology section details the research paradigm, design, data collection methods, instrument, target population, sample size, and ethical considerations. The report also includes a Gantt chart and references. Key findings from the literature suggest that entrepreneurship characteristics such as forward-looking vision, hard work, and trust, along with risk-taking behavior, significantly influence business success. The research also emphasizes the importance of SMEs in Malaysia's economic growth and the role of strategic orientations and top management support in achieving sustainable competitive advantages. The study highlights the need for further research to address gaps in the literature, particularly concerning the continuous growth of risk-taking behaviors and the use of technology in research.

IMPACT OF
ENTREPRENEURSHIP
CHARACTERISTICS ON
BUSINESS SUCCESS
MEDIATED RISK TAKING
BEHAVIOR IN MALAYSIA

Table of Contents
Topic: IMPACT OF ENTREPRENEURSHIP CHARACTERISTICS ON BUSINESS SUCCESS
MEDIATED RISK TAKING BEHAVIOR IN MALAYSIA.........................................................1
1.0 INTRODUCTION.....................................................................................................................1
1.1 Research aim..........................................................................................................................1
1.2 Research objectives................................................................................................................1
1.3 Research questions.................................................................................................................1
2.0 LITERATURE REVIEW..........................................................................................................1
2.1 Review of key concepts.........................................................................................................1
2.1.1 Entrepreneurship characteristics.........................................................................................1
2.1.2 Organizational success........................................................................................................2
2.1.3 Risk taking behaviour in Malaysia.....................................................................................2
2.2 Critical review of entrepreneurship characteristics on business success ..............................3
2.2.1 Mediated mediated risk taking behaviour in Malaysia.......................................................3
2.2.2 Theory of entrepreneurship characteristics.........................................................................3
2.2.3 Critical review of mediated risk taking behaviour..............................................................4
2.3 Empirical studies....................................................................................................................4
2.4 Literature gap.........................................................................................................................5
2.5 Conceptual framework...........................................................................................................5
3.0 METHODOLOGY....................................................................................................................5
3.1 Research paradigm.................................................................................................................5
3.2 Research design.....................................................................................................................6
3.3 Data collection method..........................................................................................................6
3.4 Data instrument......................................................................................................................6
3.5 Target population...................................................................................................................7
3.6 Sample size............................................................................................................................7
3.7 Ethical issue and accessibility................................................................................................7
3.8 Limitation...............................................................................................................................7
4.0 GANTT CHART.......................................................................................................................8
5.0 REFERENCES..........................................................................................................................9

Topic: IMPACT OF ENTREPRENEURSHIP CHARACTERISTICS ON
BUSINESS SUCCESS MEDIATED RISK TAKING BEHAVIOR IN
MALAYSIA
1.0 INTRODUCTION
1.1 Research aim
To analysis impact of entrepreneurship characteristics on business success mediated risk taking
behaviour in Malaysia.
1.2 Research objectives
 To understand entrepreneurship characteristics in business success in Malaysia.
 To identify business success that mediate risk taking behaviour in Malaysia.
 To demonstrate mediate risk taking behaviour in Malaysia.
1.3 Research questions
 What do you understand entrepreneurship characteristics in business success in
Malaysia?
 How to identify business success that mediate risk taking behaviour in Malaysia?
 How to demonstrate mediate risk taking behaviour in Malaysia?
2.0 LITERATURE REVIEW
2.1 Review of key concepts
In this consideration, different authors views towards the topic has been analysis which
assists to lead with appropriate understanding which is related with present topic. Therefore, it
can be stated that different views helps to determine effective views in the research study.
2.1.1 Entrepreneurship characteristics
According to the views of Mamun, Nawi and Fazal, (2017), there are several different
kinds of entrepreneurship characteristics observed to make successful outcomes. In this regard,
entrepreneurs possess forward looking so that they are able to anticipate trends, opportunities and
face future organisational challenges. Furthermore, hard working also considered by them so that
they love putting in the hours and realising sense of satisfaction to accomplish desired goals.
However, Amin, Thurasamy and Kaswuri, (2016) argued that entrepreneurs need to determine

trust in and respect for whole team so that they are intellectually active. It also helps to solve
problems and issues to increase self-confidence. With respect to face enormous challenges, it can
be stated that power enable to lead with success at the end of the tunnel.
2.1.2 Organizational success
As per the point of Alam, Mohd and Nor, (2015), small and medium enterprise are
considered as one of the important consideration in Malaysian economic growth. Therefore,
government also show that several development program lead with success to accomplish vision
to be high income nations by 2020. Malaysian market has low competitive advantages because
of global business environment has low productivity and poor performances. In addition to this,
SME of the market also found lower contribution in the nation's GDP and exports. In order to
improve contribution in economy, Malaysian SMEs develop their significant advantages. On the
other hand, Alam, Mohd and Nor, (2015) argued that research also emphasis on importance of
various strategic orientation with learning, top management support that determining firm
performances and development of sustainable competitive advantages.
2.1.3 Risk taking behaviour in Malaysia
According to the point of Hooi, Ahmad and Rahman, (2016), risk propensity and risk
perception influence risk taking. In this regard, Malaysia economy has large impact of taking
several initiatives. As a result, risk taking initiatives should be considered very necessary that
helps to accomplish good results. Alternatively, in other words business owners and managers
dare to take more risks that ascertained to take actions that is suitable to perform better. Different
businesses have international vision, favourable perceptions and attitude towards several
operations. On the other hand, Mamun, Nawi and Fazal, (2017) capacity also considered to
engage positively in global business activities that is more likely to lead in company success. It
impact positively which highly affect to business performances. When entrepreneurs face
different situations, they are probably show distinctive risk propensities. With this consideration,
corporate governance code of practice represent that continuous efforts are also made by the
government that improve and raise standard in positive aspect. In addition to corporate
governance, efforts are mainly strengthen the financial industry's corporate governance structure.

2.2 Critical review of entrepreneurship characteristics on business success
As per the point of Sahedan, Jaafar and Badariah, (2018), there are several characteristics
exists that helps to demonstrate business success in positive consideration. In this regard, taking
risk is one of the important that ascertained to began proven idea in which financial information
available to people. Successful entrepreneur understand that taking risk is important
characteristic for success. Without it, they are unable to lead successfully so that it helps to pay
off as important part. As critical evaluation, Tunkarimu and Hassan, (2017) self-motivation is
also important consideration and trait which helps to succeed in the business. With this regard,
dedicated towards work also successfully developed in plan and moving forward. Therefore, in
business success it play major role which ascertained to focus on tweak right thing at workplace.
2.2.1 Mediated mediated risk taking behaviour in Malaysia
According to the views of Amin, Thurasamy and Kaswuri, (2016), risky behaviour
among several people in Malaysia relatively frequent with several motive and attitude lying
behind. Main objective behind this is to evaluate role of risk perception, attractiveness and
motives. Items are risk intake and perception scale, attractiveness of risky behaviours and
motives for risky behaviour has been assessed. After verifying the validity of scales and
reliability in Malaysian market has motive which is differed in the driving of risky behaviour.
Beside this, Alam, Mohd and Nor, (2015) stated that in the business success regarding
importance of board independence in firms have been done and found different results. The
proportion of non-executive directors in board shows that whether board is independence or not.
Study show that several members employed within the company so that significantly business
gain success. Therefore, risk taking behaviour is important consideration in Malaysia.
2.2.2 Theory of entrepreneurship characteristics
According to Antwi and Hamza, (2015), growth of entrepreneurship in theory of social
change. That religion had profound influence on the growth of entrepreneurship. The religions
belief and ethical value associated with society plays a vital role in determining the culture of
entrepreneurial culture. Some of religions profess the basic values to earn and acquire money.
They said that in order to understand Max Weber theory there is need to understand few
fundamental points of their theory. In contras Blagov and et.al., (2015), stated that in theory
spirit of capitalism is a fundamental concept. Capitalism refers to the economic system there
market force demand and supply allowed to play free. Economic freedom and private enterprises

are promoted in capitalism. Its spirit of capitalism promote engagement of entrepreneurs in
entrepreneurial and earn more profits.
2.2.3 Critical review of mediated risk taking behaviour
As per the view of Bresler and Stake, (2017), risky behaviour among several peoples in
Malaysia is frequently through motive and attitude laying down. The main aspects evaluate the
roles of risk perception, attractiveness and motives. It is important to face risk in business as well
as in peoples behaviours. That is give positive impact on peoples life and also help to gain
success in their future. According to Flick, (2015), Risky behaviours is give negative impact on
peoples. Risk taking is always are not good for firm growth and its depends on type of risk. In
case of risk taking manager have to make the specific strategy to compete with risk and also
facing that. Risk taking is important part of Malaysia for growth of firm and also achieve goals
and objectives.
2.3 Empirical studies
H1: Entrepreneurship characteristics has positive impact on business success
according to Gong, P. and et.al., (2016) Entrepreneur characteristics are give the positive
impact on business and its success. It has the effective and valuable for firm's growth and profit
increasing. Entrepreneur has the good characteristic in case that give positive impact business
success because of this they are able to make and create effective strategies for business growth.
Entrepreneur is collect important information which is important for business success from
conversation and any other resources.
H2: Entrepreneurship characteristics has positive impact mediated risk taking behaviour in
Malaysia
Characteristic of entrepreneur has give positive impact on mediated risk taking behaviour
in Malaysia because entrepreneur has the good and effective characteristic. They have ability to
work easy, fast and also able to make valuable strategies for growth and success of business.
Good and positive characteristic of entrepreneur able to face each and every type of risk in firm.
Risk taking is important for best and good experience of work.
H3: Business success has positive impact to mediate risk taking behaviour in Malaysia
Business success has give positive impact on mediate risk taking behaviours. Business
growth in continues ways then manager of business are able to take risk but not every time.
Business reach in high success in that case, manager and business has not take risk and not also

think about that because most of the time risk is damage success of business. Its depends on how
leaders and manager are take that and handle it.
H4: Business success mediating effect on the relationship between entrepreneurship
characteristics and growth of Malaysia
business success mediating effect on the relationship between entrepreneurship and
characteristic and growth of Malaysia. Business success give the positive impact on entrepreneur
characteristic because they are done their work in effective and good manner and its result is
shows by growth and success of business (Kumar, 2019). By this entrepreneur is feel motivated
and do further positive work. Other hand its effect to the growth of Malaysia because of success
of business firm in local country is give positive impact on business. Business success is growth
of country which is Malaysia.
2.4 Literature gap
This research is face various gaps which are create lots of problem for researcher. The
gaps are risk is growing continuously in behaviours of entrepreneur. This is not good for
researcher and also for maintaining it in effective manner. The second gap is this technology uses
because at the time of research, researcher is use the effective technologies but they are face
various problem regarding to understand that and also use.
2.5 Conceptual framework
For the overcome the literature gap, have to understand the topic and main objective of
research. With the help of understanding topic researcher have to understand nature of risk then
take it and also try learn technologies for use it. Technology selection is based on the type of
research and topic. That had help to done their research in effective and valuable manner.
3.0 METHODOLOGY
Research methodology is the process which is used for collect information and data for
the purpose of making business decisions. It has important for managing effective research and
also help to done research in proper manners.
3.1 Research paradigm
Research paradigm is a vast and important topic for discussing their topic in great details.
There are four types of philosophies which are help to collect information such as pragmatism,
positivism, realism and interpretivism (Silverman, 2016). The first is pragmatism is mixed or

multiple method and philosophy which are used in both quantitative and qualitative. Second is
positivism is high structured and has large samples taking which is used for both quantitative and
also in qualitative. Third is realism is method which is used fit the subject matter which is
depends on quantitative and qualitative. Last one is interpretivism is applied on small samples in
depth and used in qualitative research. Thus, this report is based on the positivism data collection
method which is help to achieve aims and objectives of research.
3.2 Research design
The research design is refers the choice of specific method for collecting data and also
analysis that. The important elements of research design include research strategies and methods
which are related to data collection and analysis. Research design is divided into two parts which
are exploratory and conclusive. Exploratory research has aim to explore specific aspects of the
research area. Other hand, conclusive research is to verify insights and aid in selecting a course
of action (Strauman, 2017). Research design includes one more method that is descriptive
research design which involves observation and describing the behaviour of a subject without
any influence. Thus, this research selected by descriptive research design. That is help to achieve
aims and goals of research.
3.3 Data collection method
Data collection is the process of collecting information from all the relevant source to
find answers to research problems, test hypothesis and evaluate outcomes. Data collection is
divided into two parts such as primary data collection and secondary data collection. The
primary data collection also has two parts which are quantitative and qualitative research
method. Quantitative research method is based on mathematical calculation in various formats.
Other hand qualitative research is not involve numbers or mathematical calculations. This aim to
ensure greater level of depth of understanding (Alam, 2015). It has some method such as
interview, questionnaire, observation, game and role playing etc. The secondary data collection
is already published in newspapers, magazines, books and journals. Thus, in this research,
researcher is select the both data collection method from primary data collection research is use
questionnaire and for literature review re4search select books and journals.

3.4 Data instrument
Data collection instrument is general terms that researcher use for a measurement device.
This has various types which are as follows: questionnaire, interview, group of peoples,
observation method, document analysis and charges. The target population are a company's
employees and customers base, the population of country, that may be students of a particular
university or tenants. Thus, this research is based on the questionnaire. In this method researcher
asks some questions with target population.
3.5 Target population
Target population is entire population or group, that researcher is interested in
researching and analysing. The target population is the entire population, group of peoples. A
sampling of research is frame is then drawn from this target population. Thus, this research is
based on the 20 employees of firm (Amin, 2016). By them researcher will asks some question
without any forces to them.
3.6 Sample size
Sample size is an important feature of any empirical study. It is the process of selecting
the sample from a group of peoples that help in making conclusion about large population. For
effective sampling the population needs to be unbiased and free from external pressure. This
research the sampling in which random sampling techniques used by asking some questions form
20 peoples.
3.7 Ethical issue and accessibility
This means the good or bad in human context. It plays an important role in research.
That's means research will be free from biases and no individual will forced to give any answer
and information. Like when researcher takes interview and ask questions from individual then
researcher have to respect them and not make any force. Ethical consideration is includes the
honesty like data is honest in the report, objective deals with avoiding biases in experimental
design (Tunkarimu, 2017).
3.8 Limitation
The limitation of study is the sample size of the date used as it considerable small and
contained interview of 20 peoples. This study will shows about the impact of entrepreneur
characteristic on business success mediated risk taking behaviour in Malaysia. The outcome of

research is increase knowledge, perceptive and understanding of marketing and its schemes to
increase market share and retain customers.
4.0 GANTT CHART

5.0 REFERENCES
Books and Journals

Alam, S.S., Mohd, R. and Nor, N.G.M., 2015. Personal values and entrepreneurial orientations in
Malay entrepreneurs in Malaysia: Mediating role of self-efficacy. International Journal
of Commerce and Management. 25(4). pp.385-401.
Amin, M., Thurasamy, R. and Kaswuri, A.H.B., 2016. The effect of market orientation as a
mediating variable in the relationship between entrepreneurial orientation and SMEs
performance. Nankai Business Review International. 7(1). pp.39-59.
Antwi, S. K. and Hamza, K., 2015. Qualitative and quantitative research paradigms in business
research: A philosophical reflection. European Journal of Business and Management. 7(3).
pp.217-225.
Blagov, A. and et.al., 2015. Big data instruments for social media analysis. In Proceedings of
the 5th International Workshop on Computer Science and Engineering (pp. 179-184).
Bresler, L. and Stake, R. E., 2017. Qualitative research methodology in music education.
In Critical Essays in Music Education (pp. 113-128). Routledge.
Flick, U., 2015. Introducing research methodology: A beginner's guide to doing a research
project. Sage.
Gong, P. and et.al., 2016. A new research paradigm for global land cover mapping. Annals of
GIS. 22(2). pp.87-102.
Hooi, H.C., Ahmad, N.H. and Rahman, S.A., 2016. The functional role of entrepreneurial
orientation and entrepreneurial bricolage in ensuring sustainable entrepreneurship.
Management research review. 39(12). pp.1616-1638.
Kumar, R., 2019. Research methodology: A step-by-step guide for beginners. Sage Publications
Limited.
Mamun, A.A., Nawi, N.B.C. and Fazal, S.A., 2017. Entrepreneurial intention and startup
preparation: A study among business students in Malaysia. Journal of Education for
Business. 92(6). pp.296-314.
Sahedan, N., Jaafar, N. and Badariah, S., 2018. Prominent Entrepreneur Traits for Income
Generating Programs Performance. Advances in Business Research International
Journal. 4(2). pp.9-19.

Silverman, D. ed., 2016. Qualitative research. Sage.
Strauman, T. J., 2017. Self-regulation and psychopathology: Toward an integrative translational
research paradigm. Annual Review of Clinical Psychology. 13. pp.497-523.
Tunkarimu, T.I. and Hassan, Z., 2017. Entrepreneurial characteristics among local & foreign
students studying in Malaysia: The role of gender.