The Entrepreneurial Orientation of Gen Z on New Ventures

This report investigates the entrepreneurial orientation of Generation Z (Gen Z) concerning new business ventures. It begins by establishing the background and rationale for studying Gen Z's entrepreneurial tendencies, highlighting their potential to drive innovation and economic growth. The study defines Gen Z, outlines the concept of Entrepreneurial Orientation (EO), and reviews relevant literature on Gen Z characteristics, including their tech-savviness, pragmatism, and preference for flexible work environments. The methodology section details the research approach, including data collection methods, sampling techniques, and ethical considerations. The report analyzes the data to identify factors that influence Gen Z's entrepreneurial mindset and their approach to starting new businesses. The findings reveal key drivers, such as technology access, the desire for independence, and the influence of social media. Finally, the conclusion summarizes the key findings, and offers recommendations for businesses and policymakers seeking to engage and support Gen Z entrepreneurs.

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

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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

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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

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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

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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

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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?

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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.

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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

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significant changes has been noticed since, internet as well as the utilization of smart phones
and laptops were very popular (VanMeter et al., 2013). Apart from the utilizations of
electronic devices the rapid growth of the utilization of internet network also holds significant
responsibility towards the growth of the Z Gen business venture (Cseh-Papp et al., 2017).
Considering the business progress which has been identified in the past years it can be stated
that the incorporation of advance technologies into the organizational operations. While
analyzing the ventures in business and organizations it has been noticed that due to the
incorporation of the advance operational procedures various significant aspects has been
increased which includes the communication, marketing as well as the financial growth.
Along with the mentioned aspects it has also improved their service quality by making it
more customize for the customers and since it holds effective communication protocols it
also helps the employs to maintain the work balance among themselves (Bejtkovský 2016).
2.2 Generation Z being a kind of employee
It has been observed that some authors have directly stated that the generation Z is
unlike some other kind of generation which has been ever seen before and it is fully a true
global generation which will be able to determine the largest shift of generation which any
workplace will ever see before. It has also been admitted that the gen Z has been able to share
a series of a large number of characteristics with that of the generation of Y and this is
actually related to their capability of adapting to the world globally and for using all the full
new technologies (Gilbert, Raffo & Sutarso, 2013). A great attention has been drawn upon
the particular fact that the gen Z is going to be bringing something full new directly in the
terms of several expectations for their respective professional lives (Goh, & Lee, 2018). If a
comparison is done prior to the generation Y which possess with the capability of multi-
tasking has already been acknowledged, then it can also be said that the gen Z has a much
bigger capability of working on various tasks at the similar time. But it must be taken into

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account that gen Z is much more productive as compared to the gen Y. This capability is
directly related to their wider access to huge information as well as social networks from any
older age, gen Z possess with much greater capability of processing a huge amount of
information. Moreover, it has been found that all person who are mainly belonging to the
generation Z are hugely self-confident and are seen to be possessing a kind of optimistic view
on their individual future life of profession and highly tends to possess a number of initiatives
of an entrepreneur as it has been seen that they are very much innovative and creative as well
(Kick, Contacos-Sawyer & Thomas, 2015). One more very much essential characteristic is
actually the basic fact that apart from being linked constantly on the social media, the gen Z
mostly seem to be minimally involved in all the civic engagements as compared to all the
earlier generations. It has been already indicated that the gen Z is preferring an independent
work and highly tends for being reluctant for directly involving in the teamwork. This
particular fact can be easily determined by the propensity of generation Z for sharing
information in an environment which will be virtual by utilizing a particular language which
is abbreviated which directly affects their particular listening and several skills which are
purely interpersonal.
The activity on the social media is seen to be negatively influencing all the generation
Z’s writing skills because they are highly seen to be needing in-depth training on the
development of formal skills of sharing information (Colbert, Yee & George, 2016).
However, a general accepted concept is that the generation Z can be integrated very easily in
all organizations by the development of several programs of mentorship by the use of
generations which are further experienced and this particular idea is seen to be being
proposed since all the millennials are seen to have entered the market of labour mainly for the
purpose of providing support to their respective relationship related to work with all the
Baby-Boomers. There is a huge need for mentoring the generation Z particularly at the

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workplace because all the members of this specific generation will be strongly requiring to be
taught constantly as well as needing a particular feedback upon the activity (Berkup, 2014).
As compared to all the millennials, gen Z mostly tends not for resisting all the relationships
within authorities as it has been seen that all the representatives have found a great need for
the human link. This actually means that gen Z can only work for all those who are highly
superior possessing with the capability of managing to develop a much stronger relationship
of working with all of their subordinates (Shatto & Erwin, 2016). An idea can also be brought
into the light which is nothing but the reverse mentoring which is basically a program which
can easily provide help to all the employees belonging to any age for bonding, and all the
junior employees can also be able to share their individual knowledge as well as capabilities
towards all the employees who are senior (Bejtkovský, 2016). As per the present conditions
of the workplace is considered, when diversity is actually the main characteristic, the reverse
monitoring can also become a very strong instrument for incrementing the employee
engagement from all kinds of generations and the final result will be that the performance of
the organization will be highly enhanced (Yi et al.,2015).
Further, if the development of the professional life is considered, all the person
belonging to the gen Z will be highly tending towards valuing more the high importance of
all the soft skills in the particular detriment of all the hard which may be very much
surprising (Arar & Yüksel, 2015). This is because it has been noticed that all the members
that all the members belonging to this generation tends for not possessing soft skills because
they mostly begin their life of profession. Further, it can be said that all the retaining
employees of gen Z for a number of years may be really a tough issue for resolving and all
the person within this particular generation can become highly loyal to their particular
employer if the organization is seen to be offering them with the opportunity of growing and
for experiencing full new things and also for achieving all the leading position. In fact, it can

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be said that all the opportunities for the advancement are considered to be the most important
factor when all the different members belonging to the gen Z will be selecting a job which
will be totally full time and this will be particularly explaining the main reason for preferring
to work in all the companies which are mostly midsized or also for all the corporations which
are multinational (Becton, Walker & Jones‐Farmer, 2014).
It has been found that there is a huge importance of generation Z which is to be
highlighted as per the security is considered (Desai & Lele, 2017). It has been indicated that
about 80% of all the members of the generation Z is expecting for working much harder other
than all the generations which are older than them mainly for possessing a path of profession
which will be totally successful. Further, all the conditions which include both the economic
and the social ones are noticed to be growing up with the influenced gen Z as it has been
reported for being much more realistic as per all the demands as well as all the expectations
are considered at a particular workplace. In this way all the expectations of generation Z has
been identified regarding the life of a professional and the workplace.
2.3 Generation Z- Characteristics and Age range
The age of the gen Z is seen to be varying considerably. It must be properly
highlighted that some other generation will be following the gen Z which is main known as
the Alfa generation which are actually those people who are particularly born after the year
2010 (Iorgulescu, 2016). It has to be known that none of all the earlier generations possess as
several terms as that of gen Z. Some examples can be taken into account like iGeneration,
Facebook, Switchers and Gen Tech. It is also known that gen Z can also be known as C
generation and R Generation. In case of C Generation this particular expression will be
coming from “linked” as all the representatives are linked to the internet, computerized as
content centric. In case of the R Generation this particular expression will be mainly coming
from the generation of Responsibility (Singh & Dangmei, 2016). For a much more better