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Entrepreneurs' Resilience to Natural Disasters: Emerging Entrepreneurs from Flood Affected Areas in Kerala

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This article aims to explore the resilience of entrepreneurs of the disaster, the investigations of the impact of some of the most important conditions for the sustainable development of the full potential of businesses affected by the 2018 floods in Kerala, India. The study was to carry out using a special questionnaire to be sent to local businesses affected by the flooding. The data were processed using IBM SPSS and PLS-SEM. The results showed that all the investigated structures have had a significant and positive effect on the ability of the business to be done. This article is a preliminary examination of the nature. Future research needs to take into account the additional terms and conditions for the stability of the organization. For a better understanding of the previous aspects of sustainable development, businesses can better evaluate their investments and to understand the skills and competencies that they need in order to be able to be a disaster. The organizational implications, with recommendations for public policy.
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Empirical Economics Letters, 20 (Special Issue 3) (December 2021) ISSN 1681 8997
Entrepreneurs’ Resilience to Natural Disasters: Emerging
Entrepreneurs from Flood Affected Areas in Kerala
Chippy Mohan* and Rosewine Joy
Presidency University, Bangalore
Abstract: This article aims to explore the resilience of entrepreneurs of the
disaster, the investigations of the impact of some of the most important conditions
for the sustainable development of the full potential of businesses affected by the
2018 floods in Kerala, India. The study was to carry out using a special
questionnaire to be sent to local businesses affected by the flooding. The data were
processed using IBM SPSS and PLS-SEM. The results showed that all the
investigated structures have had a significant and positive effect on the ability of
the business to be done. This article is a preliminary examination of the nature.
Future research needs to take into account the additional terms and conditions for
the stability of the organization. For a better understanding of the previous aspects
of sustainable development, businesses can better evaluate their investments and to
understand the skills and competencies that they need in order to be able to be a
disaster. The organizational implications, with recommendations for public policy.
Keywords: Resilience, Natural Disasters, Entrepreneurs, Flood
1. Introduction
Natural disasters are catastrophic phenomena, which are becoming more and more clear to
all over the world. This is also true for India as a nation is suffering from the increasing
environmental pollution, where the floods, the earthquakes, and other natural events are
becoming more frequent and more destructive. Kerala, a South Indian state, is known as
the land of God, and is faced with a major threat in 2018, due to the flooding. The
consequences of these disasters are very different: even though, thankfully, they don't
always have to lead to the death of the people, for the economic and social environment
has suffered, which has caused significant losses in the business world and society at
large. Indeed, at the micro-level, natural disasters, is a potential, unpredictable, and not a
threat to a company's continuity and survival (Abbrey et al., 2015; Vallerand, 2015).
Immunity is usually caused by the crisis situations in well-known, as is the unexpected,
but very much powerful events that pose a threat to the natural order of life and requires an
immediate response. In the worst cases, these problems can be referred to as a "disaster",
which is an unexpected and potentially traumatic events, which are time-limited and
caused by humans, natural, or technological in nature. Examples include hurricanes,
floods, earthquakes, industrial accidents, and terrorist attacks (ABIM, 2015; Josselson,
* Research Scholar. Corresponding author. Email:chhipymohan@gmail.com
Empirical Economics Letters, 20 (Special Issue 3) (December 2021) 34
1998; Ma, et al., 2017). The concept of sustainability can be applied to businesses, as they
often have to deal with the unexpected events that pose a threat to the effectiveness, or
even the continued existence of the company. Interference will not occur due to natural
disasters, financial crises, new competitors, or the disruptive innovations that are
disrupting their strategies, as well as business performance indicators. Sustainability is an
important asset for businesses, as it helps them to cope with difficult periods of time, or
workers to interference, which could cause them to start to be stronger than in the past
(Duchek, 2018).
At the core of my research is the study of entrepreneurship, and sustainable development,
taking into account the importance of the topic in today's world. Indeed, the people at least
once in their life are to go through difficult periods, which may require the strain of the
solid behavior to overcome them. The ability to stand up to adverse events, and to return it
to the state it was before the crisis, which is especially important for business owners and
managers, and the terms and conditions of an impact on the functioning of the
organization. They also contribute to the financial success of their companies, and,
therefore, are responsible for the health of its employees and the economic stability of the
environment in which they operate (Miao, et al., 2017; Shepherd, et al., 2015; Stirin et al.,
2016). At this moment there are lots of sources of uncertainty seem to affect the normal
operation of the organization, and what that means is that the immunity is playing an
increasingly important role. These sources of variability under global warming, political
instability, and technological disruption. As a result, business leaders will have to deal
with all the changes in the environment by guiding their companies through the processes
of adaptation and innovation. In addition, most new entrepreneurs will be able to use these
challenges as well as opportunities in order to understand the key organizational
weaknesses and to improve it.
The concept of entrepreneurship and sustainable development refers to the ability of a
business to continue to be optimistic in the face of a difficult situation, and the unexpected
challenges that pose a threat to their organizations. The qualities that make entrepreneurs '
personal lives, enabling them to overcome the difficulties of adjusting to changing
conditions, (Ayala-Calvo&Manzano-Garcia, 2010). According to some authors,
entrepreneurs and the people who make a difference in a company (if they have the
conditions that led to the success or failure-Of Praag&Versloot, 2007). Business owners
have a strong psychological attachment to their business, allowing them to invest a
significant amount of time, effort, and money in practices designed to ensure that it
continues to exist. In addition, their personal immunity, reduces the negative effects of
disruptions in the company's work time (Chatterjee, et al., 2015; Drnovsek et al., 2016;
Josselson, 1998; Ma, et al., 2017). Thus, there is a strong correlation between the stability
Empirical Economics Letters, 20 (Special Issue 3) (December 2021) 35
of the entrepreneurs and the success and the survival of the company (the Awotoye&
Singh, 2017). The life span of the businesses to be transferred to the managers, and the
employees of their companies, the effect on their attitudes to pain, as well as their
propensity to endure, and to be optimistic. Resilient leaders are able to spread their
positive beliefs and feelings, which helps in increasing the size of the personal immunity
of the staff to bring them back (Santoro et al., In the end of 2018).(Adeniyi et.al 2019;
Huggins and Thompson, 2015).
Sustainability can be thought of as a set of characteristics rather than a specific feature of
the business owners. As such, this construct, he argues, is a combination of many, many,
personal, and behavioral characteristics such as a sense of self-efficacy, need for
achievement, and the enthusiasm, creativity and innovation, flexibility, and knowledge.
Resilience is becoming a key indicator of the ability of an individual to cope up with the
dynamic process of "positive", which is the result of stress, problems, and threats. In this
context, the concept of sustainable development has been linked to self-efficacy, and the
need for achievement and discovery, creativity and innovation, flexibility, and a search for
knowledge. We will examine each of these concepts and their relationship to the company.
2. Methodology
This tool needs to be used for the new entrepreneurs who have started their company in
the last 5 years. Most of the experts agree that this is the number of years of wealth that
entrepreneurs should be the most common, and before them, the clear company, the stage
of their position in the world of business, no matter the obstacles they may encounter from
time to time. In addition, it is a stage where they are ready for any challenge that stands in
their way to success. The reliability of the research instrument has been checked for the
different variables and has found out to be reliable. The researcher had taken a sample of
180 entrepreneurs from top three flood affected districts in Kerala. The questionnaire has
been divided into subsections and here entrepreneur resilience has been taken as the
dependent variable and the determinants of resilience as the independent variables.
Stratified random sampling has been chosen for this study and the researcher had used
IBM SPSS Statistics 23.0 and PLS SEM for the data analysis
3. Data Analysis and Discussion
3.1. Reliability Statistics
Since the value of Cronbach’s Alpha, as is shown in Table 1, is greater than 0.7 for all
variables, we can conclude that the data of all our variables are valid and can be taken for
analysis.
Empirical Economics Letters, 20 (Special Issue 3) (December 2021) 36
Table 1: Reliability Test
Item
Cronbach's
Alpha
Cronbach's Alpha Based on
Standardized Items
N of
Items
Self-efficacy
.812
.821
180
Need for achievement and
aspiration
.792
.796
180
Creativity and innovation
.836
.845
180
Flexibility
.819
.827
180
Knowledge seeking
.764
.772
180
3.2. Descriptive analysis
Based on our survey it was found that the utmost respondents (58%) contributed for the
research aged from 25 -34. Most of the respondent (58%) have educational qualifications
up to UG level. Urban people contributed most (49%) in this research. Majority of the
respondents(22%) coming from high flooded areas. Social doubt and fear was the majority
(35%) issue faced during flood as per the opinion of the majority.
Table 2: Percentage analysis
Content
Factors
Percentage (%)
Age
18-24
18
25-34
55
35-44
20
Above 44
7
Education
Up to UG level
58
UG
31
PG
11
Area of operation
Urban
49
Coastal
35
Rural
16
Level of flood affection in
area of operation
Very high
58
High
22
Moderate
10
Low
8
Very low
2
Major issues faced during
flood as an entrepreneur
Finding new customers
20
Funds for the business
10
Self doubt and fear
35
Lack of social support
30
Others
5
Empirical Economics Letters, 20 (Special Issue 3) (December 2021) 37
3.3. Correlation analysis
Correlation analysis is done to assess the affiliation between two variables. Here we are
measuring the relationship between all dimensions of entrepreneur’s resilience and its
outcome for checking the level of entrepreneur’s resilience.
Table 3: Correlation analysis based on all dimensions of entrepreneur’s resilience
and its outcome
Dimensional factors
Sig. (1-
tailed)
N
Inference
Self-efficacy
.000
477
Strong positive correlation and
significance between variables
Need for achievement
and aspiration
.002
477
positive correlation and
significance between variables
Creativity and
innovation
.021
477
Strong positive correlation and
significance between variables
Flexibility
.000
477
Strong positive correlation and
significance between variables
Knowledge seeking
.000
477
Very strong positive correlation
and significance between variables
From with the above table it is evident that the variables have a positive correlation with
entrepreneur’s resilience. However, all the factors show significance relationship with
entrepreneur’s resilience. Thus it can be concluded that dimensional factors have an
impact in the entrepreneur’s resilience level.
3.4 Chi square analysis 1
To find the relationship between Age and major issue faced as an entrepreneur due
to flood
H0: There is no significant association between Age and major issue faced as an
entrepreneur
H1: There is significant association between Age and major issue faced as an entrepreneur
Table 4: chi square analysis 1 - Age and major issue faced as an entrepreneur
Value
Df
Asymp. Sig. (2-sided)
Pearson Chi-Square
22.081a
12
.000
Likelihood Ratio
17.642
12
.001
Linear-by-Linear Association
5.577
1
.001
N of Valid Cases
180
Empirical Economics Letters, 20 (Special Issue 3) (December 2021) 38
Since value of P < 0.05 as given in Table 4, we have rejected null hypothesis and accept
the alternative hypothesis. So there exists a relationship between age and major issue faced
as an entrepreneur due to flood.
3.5. Chi square analysis 2
To find the relationship between education and the dimensions of entrepreneur
resilience
H0: There is no significant association between education and dimensions of
entrepreneur resilience
H1: There is a significant association between education and dimensions of
entrepreneur resilience
Table 5: Chi square analysis 2 - Education and dimensions of entrepreneur resilience
Value
Df
Asymp. Sig. (2-sided)
Pearson Chi-Square
14.081a
8
.002
Likelihood Ratio
11.55
8
.001
Linear-by-Linear Association
3.31
1
.013
N of Valid Cases
180
Table 5 shows that since value of P<0.05, we have rejected null hypothesis and accept the
alternative hypothesis. So there exists a relationship between education and dimensions of
entrepreneur resilience.
3.6. Goodness of fit
Based on the PLS same model the goodness of fit is based on many factors, and in this
study the R-square value is more than 0.67 is considered to be significant. Cronbach’s
alpha value of more than 0.8 are of good scale, more than 0.7 are acceptable and more than
0.6 are for exploratory purpose and we received the value of more than 0.7 in most of the
dimensions of resilience except flexibility factor. The cross loadings are higher for
proposed latent constructs and lower for other constructs. Cronbach’s alpha composite
reliability is preferred since it leads to higher estimates of true reliability. Composite
variability of should be greater than or equal to 0.6 in general and also composite
reliability value of equal to or greater than 0.7 denotes adequate model for confirmatory
purpose.
Empirical Economics Letters, 20 (Special Issue 3) (December 2021) 39
Figure 1: PSLEM Analysis Disaster Entrepreneurship
The major findings could be list as below:
Majority of the respondents belong to the age group of 25-34 years.
Most of the respondents have education qualifications up to UG level.
Urban people contributed more in this research.
Majority of the respondents coming from high flood affected areas.
Social doubt and fear was the major issue faced during flood as per the opinion of
the majority.
The dimensional factors have an impact in the entrepreneur’s resilience level.
There exist a relationship between Age and major issue faced as an entrepreneur
due to flood.
There exist a relationship between education and dimensions of entrepreneur
resilience.
The proposed study has goodness of fit for the variables studied and has a high
reliability factor.
Empirical Economics Letters, 20 (Special Issue 3) (December 2021) 40
These findings have a number offuture implications. First, this study has clearly
demonstrated that it is for start-up companies have to cope with a fast-paced environment,
with the development and improvement of the viability of the enterprise is crucial. Second,
it is to improve on social media, the opportunities for the entrepreneurs, it is also very
important, so that they are able to provide the resources they need to improve business
performance. In the third place, there is a need for longitudinal studies to examine the
relationship between a company's stability and performance over a specified period of
time in order to determine whether resilience is a key factor in the company's success.
6. Conclusion
This paper is imperative since it is the experimental ponder that operations the
measurements of flexibility in an agent test of rising business people. We found that
within the setting of commerce wanders in surge influenced Kerala, that entrepreneurial
versatility when beginning modern commerce is characterized by a require for
accomplishment, adaptability, advancement, and inventiveness, and information looking
for. The tall level of these flexibility variables in asset-based businesspeople clarifies why
these business people are more flexible or fruitful than other sorts of business people in
beginning an unused trade. This paper gives to prove that entrepreneurial flexibility is a
critical figure in fruitful commerce begin-ups in surge influenced locale in Kerala.
Advance, the capacity to misuse the openings combined with administration, showcasing,
and monetary abilities are too vital variables in guaranteeing such victory.
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Research summary Entrepreneurial passion has gained credence in recent years in explaining entrepreneurial efforts, yet examination of the dynamics of this emotion and its effects on venture growth is still in its infancy. Building on the literature on entrepreneurial motivation and entrepreneurial passion, we develop and test a model of entrepreneurial passion, goals, and venture growth. We utilize path analysis on a two‐wave sample of founders from 122 high technology firms. We find direct positive effects of passion for developing on venture growth and an indirect positive effect mediated by goal commitment, but not goal challenge. Implications for research and practice are discussed. Managerial summary In this study, we show that entrepreneurs' positive feelings of entrepreneurial passion are positively associated with venture growth. We focus on a specific type of entrepreneurial passion—passion for developing a venture. Based on the findings from our study, we suggest that it is important for entrepreneurs to channel their passion for developing toward identifying challenging business goals and increasing commitment to business goals. We show that entrepreneurs who increase commitment toward business goals based on passion for developing realize higher venture growth. However, developing challenging goals based on passion does not lead to higher venture growth. Copyright © 2016 Strategic Management Society.
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Passion is a commonly observed phenomenon in the entrepreneurial process. Entrepreneurs are known to be passionate, and their passion has been argued by scholars to be an important element in entrepreneurship. There have been ongoing discussions in the literature with regards to why passion might lead to successful new ventures. Yet, we have very limited understanding of how an entrepreneur’s passion impacts his or her behavior or how entrepreneurial passion translates into successful outcomes for the firm. Opportunity recognition has been recognized as a crucial first step in the entrepreneurial process. Before an entrepreneur can move towards exploiting an opportunity he or she must be alert and recognize opportunities. Alertness – the ability to scan for new opportunity, associate and connect disparate information, and evaluate whether the new information presents an opportunity – is thus a vital part of entrepreneurship. While significant progress has been made in exploring alertness from a cognitive perspective, explorations that focus on the motivational antecedents to alertness have been sparse. The current research seeks to address above gaps by investigating the antecedents of alertness and finds that passion acts as an indirect antecedent of alertness, with its effects mediated by proaction, learning goal orientation, and creativity.
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The role of the public and private sector in disaster risk reduction is emerging as an important area of attention in the post-2015 Hyogo Framework for Action agenda across the globe. In a rapidly urbanizing India, the public and private sectors have been the driving force behind socio-economic development. The present trend of sporadic engagement of the private and public sectors in post-disaster relief and response highlights a need for a proactive approach among these entities to make the gains sustainable and build a close partnership with the government in preparing and mitigating disaster risk. This chapter tries to look at Public Private Partnership (PPP) as a possible solution to better the disaster infrastructure in India. To develop a better understanding of the role of private sector, their engagement in the past disasters and initiatives are studied. Further, the chapter looks into the post-disaster initiatives taken at various levels to make the society disaster resilient. The findings from the analysis of existing legislations and case studies help in evolving a set of recommendations to create a road map for engaging the private sector through PPP for disaster resilience in future.
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