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Exploring the Relationship Between Entrepreneurial Mindsets and Business Success: Implications for Entrepreneurship Education

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Mesri Manafe at Artha Wacana Christian University
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Muammar Revnu Ohara
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Silvy Sondari Gadzali
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Muhammad Ade Kurnia Harahap
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Abstract

Entrepreneurship is becoming an increasingly popular topic these days. Many people are interested in becoming an entrepreneur and developing their own business. However, not everyone has the ability to become a successful entrepreneur. There are several factors that can influence business success, one of which is having an entrepreneurial mindset. The purpose of this paper is to explore the relationship between entrepreneurial mindset and business success and to discuss the implications for entrepreneurship education. This research is qualitative in nature. Data collection techniques include listening and recording important information to conduct data analysis through data reduction, data display, and conclusion drawing. This study shows that there is a positive relationship between entrepreneurial mindset and business success. Entrepreneurial mindset consists of five main dimensions namely opportunity orientation, innovativeness, proactiveness, self-confidence and risk tolerance. Entrepreneurs who have a strong entrepreneurial mindset are more likely to achieve success in their business. The study also suggests that teaching entrepreneurship should focus on developing entrepreneurial mindset to prepare students to become successful entrepreneurs in the future.
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Journal on Education
Volume 05, No. 04, Mei-Agustus 2023, pp. 12540- 12547
E-ISSN: 2654-5497, P-ISSN: 2655-1365
Website: http://jonedu.org/index.php/joe
Exploring the Relationship Between Entrepreneurial Mindsets and
Business Success: Implications for Entrepreneurship Education
Mesri Welhelmina Nisriani Manafe1, Muammar Revnu Ohara2, Silvy Sondari Gadzali3, Muhammad
Ade Kurnia Harahap4, Abu Muna Almaududi Ausat5
1Universitas Kristen Artha Wacana, Jl. Adi Sucipto No.147, Oesapa, Kec. Klp. Lima, Kota Kupang, NTT
2Universitas Lancang Kuning, Jl. Yos Sudarso No.KM.8, Umban Sari, Kec. Rumbai, Kota Pekanbaru, Riau
3, 5Universitas Subang, Jl. Raden Ajeng Kartini No.KM.3, Pasirkareumbi, Kec. Subang, Kab. Subang, Jawa Barat
4Universitas Simalungan, Jl. Sisingamangaraja Barat, Kec. Siantar Sitalasari, Kota Pematang Siantar, Sumut
mesrimanafe@gmail.com
Abstract
Entrepreneurship is becoming an increasingly popular topic these days. Many people are interested in
becoming an entrepreneur and developing their own business. However, not everyone has the ability to become
a successful entrepreneur. There are several factors that can influence business success, one of which is having
an entrepreneurial mindset. The purpose of this paper is to explore the relationship between entrepreneurial
mindset and business success and to discuss the implications for entrepreneurship education. This research is
qualitative in nature. Data collection techniques include listening and recording important information to
conduct data analysis through data reduction, data display, and conclusion drawing. This study shows that
there is a positive relationship between entrepreneurial mindset and business success. Entrepreneurial mindset
consists of five main dimensions namely opportunity orientation, innovativeness, proactiveness, self-
confidence and risk tolerance. Entrepreneurs who have a strong entrepreneurial mindset are more likely to
achieve success in their business. The study also suggests that teaching entrepreneurship should focus on
developing entrepreneurial mindset to prepare students to become successful entrepreneurs in the future.
Keyword: Entrepreneurial Mindset, Business Success, Entrepreneurship Education
Abstrak
Kewirausahaan menjadi topik yang semakin populer belakangan ini. Banyak orang yang tertarik menjadi
seorang pengusaha dan mengembangkan bisnisnya sendiri. Namun, tidak semua orang memiliki kemampuan
untuk menjadi pengusaha sukses. Ada beberapa faktor yang dapat mempengaruhi keberhasilan bisnis, salah
satunya adalah memiliki entrepreneurial mindset. Tujuan dari paper ini adalah untuk mengeksplorasi hubungan
antara pola pikir kewirausahaan dan kesuksesan bisnis dan untuk membahas implikasinya terhadap pendidikan
kewirausahaan. Penelitian ini bersifat kualitatif. Teknik pengumpulan data meliputi menyimak dan mencatat
informasi penting untuk melakukan analisis data melalui reduksi data, display data, dan penarikan kesimpulan.
Studi ini menunjukkan bahwa adanya hubungan yang positif antara mindset kewirausahaan dengan
keberhasilan bisnis. Mindset kewirausahaan terdiri dari lima dimensi utama yaitu orientasi pada peluang,
inovasi, sikap proaktif, kepercayaan diri dan toleransi terhadap risiko. Para pengusaha yang memiliki mindset
kewirausahaan yang kuat lebih cenderung mencapai keberhasilan dalam bisnis mereka. Studi ini juga
menunjukkan bahwa pengajaran kewirausahaan harus fokus pada pengembangan mindset kewirausahaan untuk
mempersiapkan siswa untuk menjadi pengusaha yang sukses di masa depan.
Kata Kunci: Pola Pikir Wirausaha, Kesuksesan Bisnis, Pendidikan Kewirausahaan
Copyright (c) 2023 Mesri Welhelmina Nisriani Manafe, Muammar Revnu Ohara, Silvy Sondari Gadzali,
Muhammad Ade Kurnia Harahap, Abu Muna Almaududi Ausat
Corresponding author: Mesri Welhelmina Nisriani Manafe
Email Address: mesrimanafe@gmail.com (Jl. Adi Sucipto No.147, Kec. Klp. Lima, Kota Kupang, NTT)
Received 9 March 2023, Accepted 15 March 2023, Published 15 March 2023
INTRODUCTION
Entrepreneurship is becoming an increasingly popular topic these days (Gadzali et al., 2023).
Many people are interested in becoming an entrepreneur and developing their own business (Diawati
et al., 2023). However, not everyone has the ability to become a successful entrepreneur (Raharjo et
Exploring the Relationship Between Entrepreneurial Mindsets and Business Success: Implications for Entrepreneurship
Education, Mesri Welhelmina Nisriani Manafe, Muammar Revnu Ohara, Silvy Sondari Gadzali, Muhammad Ade Kurnia
Harahap, Abu Muna Almaududi Ausat 12541
al., 2023). There are several factors that can influence business success, one of which is having an
entrepreneurial mindset.
Entrepreneurial mindset is a mindset that includes the attitudes, values, and skills needed to
become a successful entrepreneur (Daspit et al., 2023). An entrepreneurial mindset is not only
important for starting a new business, but also for managing an existing business (Larsen, 2022).
Successful entrepreneurs have the ability to face challenges and take risks in making business
decisions (Rembulan et al., 2023).
In reality, not everyone has the same entrepreneurial mindset (Cahyani et al., 2022). Some
people have a stronger entrepreneurial mindset than others, and this can affect their business success
(Jiatong et al., 2021). Therefore, it is important to study the relationship between entrepreneurial
mindset and business success.
The purpose of this paper is to explore the relationship between entrepreneurial mindset and
business success and to discuss its implications for entrepreneurship education. Specifically, this
paper will discuss the various components of an entrepreneurial mindset, how they contribute to
business success, and how entrepreneurship education can foster the development of such a mindset
among aspiring entrepreneurs.
METHOD
By reviewing relevant literature, the researcher in this study was able to avoid going out into
the field to collect data, allowing the research to proceed more quickly and efficiently. Articles about
entrepreneurship, business success, and entrepreneurship education were culled from the internet and
academic journal archives using keywords relevant to this discussion. The author is not tied to using
only specific web resources, such as Emerald Insight, Research Gate, or Elsevier's journal portals,
while compiling a list of credible references. In order to keep the focus on the article's major topics—
an entrepreneurial frame of mind, the success of entrepreneurs in business, and the teaching of
entrepreneurship—the author restricts the scope of the article's keyword search to those three topics.
The time period covered by the search for journals, articles, and publications was primarily between
2017 and the present. When collecting references, we entered keywords on various publication
portals. However, not all downloaded papers, journals, and publications will be used, but only those
that are most related to entrepreneurial mindset, business success, and its relation to entrepreneurship
education. A total of 26 references were interpolated into this article.
A qualitative approach was taken in this study. Listening to and collecting relevant
information is one method of data collection, followed by data reduction, data display, and conclusion
drawing to paint a complete picture of the literary study under development. More specifically, at the
data reduction stage, we simplify, classify, and discard unnecessary data in such a way that the data
can produce meaningful information and make it easier to draw conclusions. This is due to the large
amount of data and the complexity of the data, so it is necessary to analyse the data through the
12542 Journal on Education, Volume 05, No. 04, Mei-Agustus 2023, hal. 12540- 12547
reduction stage. We did this reduction stage to select whether the data was relevant or not to the final
goal. The references we obtained initially totalled 54 references. However, after going through this
initial process it became 26. Next through data display. This step follows on from the previous one,
data reduction, in which a set of data is methodically organized to make it easy to interpret, allowing
for the potential of drawing conclusions. Here, information is given in the form of a narrative (in the
form of field notes). Through this data presentation, it will make it easier for us to organise and
arrange data in a relationship pattern. The final step is to derive inferences from the data. This is the
final step in the qualitative data analysis approach that we take, and it still alludes to the analytical
goals that were set out at the beginning of the process. Here, we try to make sense of the information
we have gathered by identifying patterns, trends, and anomalies in order to draw conclusions and find
solutions to the problems we have identified. The references we use are considered valid to draw
conclusions. This is an effort to find a credible conclusion, so that it will be easier to understand.
RESULT AND DISCUSSION
An entrepreneurial mindset is the way a person thinks and views the world in the context of
entrepreneurship (Kouakou et al., 2019). There are several dimensions of an entrepreneurial mindset
that are commonly recognised by experts, including:
1. Creativity and innovation: This dimension refer to the ability to see business opportunities where
others do not, as well as the ability to develop new and innovative solutions to problems
encountered.
2. Goal orientation: This dimension refers to the ability to set clear goals and be orientated towards
achieving those goals. People who have a strong entrepreneurial mindset have the motivation and
determination to achieve their goals.
3. Risk-taking: This dimension refers to the ability to take risks associated with business
opportunities. People who have a strong entrepreneurial mindset are not afraid to take the
necessary risks to achieve their business goals.
4. Self-reliance: This dimension refers to the ability to work independently and take initiative in
developing the business. People who have a strong entrepreneurial mindset have the ability to
lead and manage themselves effectively.
5. Ability to learn and adapt: This dimension refers to the ability to learn from experience and adapt
to changes in the business environment. People who have a strong entrepreneurial mindset can
adapt quickly and take the necessary actions to stay relevant and successful.
Students' entrepreneurial mindset can have a significant influence on future business success.
Some of the influences include:
1. Generating creative ideas: An entrepreneurial mindset can help students to see business
opportunities around them and create new ideas to fulfil unmet market needs (Morris, 2022).
Exploring the Relationship Between Entrepreneurial Mindsets and Business Success: Implications for Entrepreneurship
Education, Mesri Welhelmina Nisriani Manafe, Muammar Revnu Ohara, Silvy Sondari Gadzali, Muhammad Ade Kurnia
Harahap, Abu Muna Almaududi Ausat 12543
2. Develops the ability to take risks: An entrepreneur must be ready to take risks in starting and
growing their business. An entrepreneurial mindset can help students to develop the ability to take
risks more confidently and wisely (Putri et al., 2022).
3. Encourage independence: Students who have an entrepreneurial mindset will be more likely to be
independent and have the ability to solve problems in creative and innovative ways. This
independence will help them to build their own business (Zemlyak et al., 2022).
4. Developing management skills: An entrepreneur must be able to manage resources and run a
business effectively. An entrepreneurial mindset can help students to develop the management
skills necessary to manage their own business (Wardana et al., 2020).
5. Building a business network: An entrepreneurial mindset can help students to build a good
business network, which will help them to grow their business in the future (Azzaakiyyah, 2023).
Thus, it can be concluded that students' entrepreneurial mindset can have a positive influence
on their future business success. An entrepreneurial mindset can help students to develop skills that
are important in starting and growing their own business (Lindberg et al., 2017).
This is in line with the opinion of Hsu et al. (2019) who define entrepreneurial intention as an
awareness of an unmet need for professional change. According to research Barba-Sánchez &
Atienza-Sahuquillo (2018), aspiring entrepreneurs are more likely to seek, evaluate and act on new
opportunities when they have access to appropriate planning, organisational, process and material
resources. Previous research has shown a correlation between aspiring entrepreneurs and actual
business owners (Cui et al., 2021). The term "entrepreneurial attitude" describes a person's dedication
to starting and running their own business (Kuratko et al., 2021). An entrepreneurial mindset is
characterised by a tendency to take risks, a strong drive for achievement, a desire to start new
ventures, and the ability to conceptualise, plan, and execute initiatives to achieve entrepreneurial goals
(Bosman & Fernhaber, 2018). Handayati et al. (2020) studied the effect of entrepreneurial mentality
on intention to start a business among vocational students in Indonesia. The result was significant. An
entrepreneurial mindset is one that is developed over time and practised regularly (Kaffka & Krueger,
2018).
This research shows a positive relationship between entrepreneurial mind and business
success. Entrepreneurs who have a strong entrepreneurial mind tend to be more successful in building
their businesses (Ausat & Suherlan, 2021). In addition, this study suggests that entrepreneurship
education can help improve an individual's entrepreneurial mind, which in turn can help improve
business success. The results of this study correlate with the statements of previous studies that
suggest that a strong entrepreneurial mind can help increase business success (Asenge et al., 2018).
Entrepreneurs who have a strong entrepreneurial mind tend to be better able to overcome the
challenges faced in building their business and are more likely to create new opportunities (Daspit et
al., 2023).
12544 Journal on Education, Volume 05, No. 04, Mei-Agustus 2023, hal. 12540- 12547
In addition, the results of this study also suggest that entrepreneurship education can help to
enhance the entrepreneurial mind of individuals. In an educational context, learning approaches that
involve problem-solving and decision-making in business situations can help students develop their
entrepreneurial minds (Zen et al., 2023). Therefore, entrepreneurship education can help prepare
students to become successful entrepreneurs. Overall, the results of this study have important
implications for entrepreneurship education. Entrepreneurship education can help develop individuals'
entrepreneurial minds, which can help increase business success. Therefore, it is important for
universities and schools to offer effective entrepreneurship education programmes that involve
learning approaches that involve problem solving and decision making in business situations.
Furthermore, the study also suggests that the development of an entrepreneurial mind can help
reduce the fear and uncertainty often associated with starting a business. When individuals have a
strong entrepreneurial mind, they tend to be more confident in making decisions and better able to
deal with the risks associated with starting a business (Cunningham & Anderson, 2018). However, it
is important to remember that the development of an entrepreneurial mind does not only occur
through formal education. There are many other factors that can influence the development of
entrepreneurial mind, such as work experience and life experience. Therefore, there needs to be a
holistic approach in developing an entrepreneurial mind, involving various factors that influence
individuals.
Ultimately, the results of this study can also help entrepreneurs who are starting their own
businesses. Entrepreneurs can develop their entrepreneurial mind through reading entrepreneurial
literature, talking to successful entrepreneurs, and attending entrepreneurship training and seminars.
By developing a strong entrepreneurial mind, entrepreneurs can increase their chances of success in
building their business. In conclusion, the results of this study suggest that a strong entrepreneurial
mind can help improve business success and that entrepreneurship education can help develop an
individual's entrepreneurial mind. Therefore, it is important for educators, entrepreneurs, and society
to pay attention to the importance of entrepreneurial mind development in creating a successful
business environment.
CONCLUSION
This study shows that there is a positive relationship between entrepreneurial mindset and
business success. Entrepreneurial mindset consists of five main dimensions namely opportunity
orientation, innovativeness, proactiveness, self-confidence and risk tolerance. Entrepreneurs who have
a strong entrepreneurial mindset are more likely to achieve success in their business. This study also
suggests that teaching entrepreneurship should focus on developing entrepreneurial mindset to prepare
students to become successful entrepreneurs in the future.
Based on the results of this study, there are several suggestions that can be given in teaching
entrepreneurship: First, focus on entrepreneurial mindset development: Entrepreneurship teaching
Exploring the Relationship Between Entrepreneurial Mindsets and Business Success: Implications for Entrepreneurship
Education, Mesri Welhelmina Nisriani Manafe, Muammar Revnu Ohara, Silvy Sondari Gadzali, Muhammad Ade Kurnia
Harahap, Abu Muna Almaududi Ausat 12545
should focus more on developing the five main dimensions of entrepreneurial mindset, namely
opportunity orientation, innovation, proactiveness, self-confidence and risk tolerance. Second, Use
active learning methods: Entrepreneurship teaching should utilise active learning methods such as
group discussions, case studies, business simulations and industry internships to provide hands-on
experience and train students' entrepreneurial skills. Third, teach practical skills: Besides the
entrepreneurial mindset, students also need to be trained in practical skills such as business planning,
financial management, marketing, and operations management. Fourth, develop networks and
relationships: Students also need to be trained in building strong networks and relationships with
stakeholders in the business, including investors, customers, and potential business partners. Fifth,
Support innovation and research: Teaching entrepreneurship should also encourage students to
conduct research and innovation in their business to build a sustainable competitive advantage.
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... This is in line with research by Joensuu-Salo et al. (2022), who found that financial literacy has a positive effect on business performance and creativity. Apart from that, research by Manafe et al. (2023) also agrees that financial literacy also has a significant influence on the creativity of MSMEs to face crises and maintain the sustainability of their businesses. Research Zeng et al. (2023) also said that financial literacy influences entrepreneurial creativity, especially in managing MSME finances. ...
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Understanding the role of financial literacy, entrepreneurial literacy, and digital economic literacy on entrepreneurial creativity and MSMEs success: a knowledge-based view perspective
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Business literacy is intellectual capital, which includes financial literacy, entrepreneurial literacy, and digital economic literacy, and its role in entrepreneurial creativity and the success of MSMEs is an important aspect to study, especially from a knowledge-based perspective. This research aims to identify and explore the influence of financial literacy, entrepreneurial literacy, and digital economic literacy on the success of MSMEs, with entrepreneurial creativity as a moderator variable. This research uses quantitative methods. The data collection technique used in this research is a questionnaire. The sample in this study was 700 respondents and were selected using purposive sampling techniques. Data analysis using PLS-SEM through Smart PLS software version 4. This research provides a comprehensive exploration and understanding of the fact that financial literacy, entrepreneurial literacy, and digital economic literacy are intangible assets that have an impact on business success. This research succeeded in finding and confirming that financial literacy, entrepreneurial literacy, and digital economic literacy have a positive and significant effect on the success of MSMEs through entrepreneurial creativity. This finding emphasizes the development of new concepts and insights related to intellectual capital in MSMEs that include financial literacy, entrepreneurial literacy, and digital economic literacy as part of intellectual capital in the knowledge-based view perspective.
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... [22] In Pontianak City, it is fundamental to examine how these different ethos impact MSMEs. A system of values and moral principles that are important for entrepreneurs who want to achieve success and create a positive impact on themselves, others, and society is what we call the entrepreneurial ethos [23] [24]. Educational initiatives, training programs, and practical exposure can be fostered strategies to cultivate the entrepreneurial mindset [24]. ...
... A system of values and moral principles that are important for entrepreneurs who want to achieve success and create a positive impact on themselves, others, and society is what we call the entrepreneurial ethos [23] [24]. Educational initiatives, training programs, and practical exposure can be fostered strategies to cultivate the entrepreneurial mindset [24]. A significant commitment aimed at fostering enduring economic and societal advancement represents the nurturing and enhancing of entrepreneurial values. ...
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... Moreover, as it is explained entrepreneurial optimism is regarded as a characteristic that enhances the achievement of business success in the market (Ma, 2024). This kind of optimism along with the quality of strong entrepreneurial operating experience, as postulated by (Manafe et al., 2023), means that there is possibility of enhanced business performance. Manafe et al. (2023) also, defined how crisis-related entrepreneurial actions can act as stressor protectant resources for well-being that is linked to business and personal success (Eib & Bernhard-Oettel, 2023). ...
... This kind of optimism along with the quality of strong entrepreneurial operating experience, as postulated by (Manafe et al., 2023), means that there is possibility of enhanced business performance. Manafe et al. (2023) also, defined how crisis-related entrepreneurial actions can act as stressor protectant resources for well-being that is linked to business and personal success (Eib & Bernhard-Oettel, 2023). Therefore, it is possible to state that human capital, entrepreneurial competence, attitude, self-efficiency, innovation and optimism constitute an integral part of the factors that define and impact the entrepreneurial efficiency and success. ...
Entrepreneurial Proficiency, Financial Knowledge and Sustainable Functioning – Examining the Mediating Role of Business Resilience among Indian Entrepreneurs
Article
Full-text available
  • Jul 2024
This study looked into how financial knowledge and entrepreneurial proficiency affected the performance of small, sustainable businesses. In parallel, we looked at how business resilience mediated the relationship between entrepreneurial proficiency and financial knowledge and long-term company success. Using an offline questionnaire, we employed a quantitative approach to gather data from 275 Indian small company owners. PLS-SEM was used to analyse the data that had been gathered. The findings show that resilience and entrepreneurial ability are very positively impacted by financial knowledge. The business resilience and sustainable performance of Indian SMEs are significantly enhanced by entrepreneurial competencies. Moreover, it was shown that business resilience moderated the influence of financial knowledge and proficiency on sustainable performance among Indian SMEs, while concurrently having a significant impact on sustainable performance. In keeping with India Vision of Viksit Bharat@2047: Crystal Gazing through MSME Sector, which places a strong emphasis on entrepreneurship and the growth of a financially independent entrepreneurial community, this study helps to open up business options for regional business owners who oversee small businesses. According to the most recent figures (2021–2022) from the Ministry of Statistics & Programme Implementation, MSMEs make up a startling 29.15% of India’s GDP. This indicates their critical significance in the development of the country as it equates to a sizeable portion of the economic pie. In addition to adding to the corpus of knowledge, this research can help policymakers develop relevant plans to motivate SMEs that have been most negatively impacted by the COVID-19 pandemic to operate sustainably. There are also several other ramifications for financial institutions and business owners.
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... Selain itu, penelitian ini juga bertujuan untuk menyajikan pemahaman yang komprehensif tentang bagaimana kepercayaan diri mempengaruhi berbagai aspek kesuksesan kewirausahaan, termasuk pertumbuhan bisnis, inovasi, dan keberlanjutan. Manafe et al., (2023) memberikan pernyataan bahwa meskipun banyak penelitian telah dilakukan untuk mengeksplorasi hubungan antara kepercayaan diri dan kesuksesan pengusaha, masih terdapat beberapa permasalahan yang perlu diatasi. Pertama, definisi dan pengukuran kepercayaan diri yang digunakan dalam berbagai studi sering kali bervariasi, sehingga menyulitkan untuk melakukan perbandingan yang akurat antar studi. ...
Sistematik Literatur Review dampak Kepercayaan Diri pada Kesuksesan Pengusaha
Article
Full-text available
  • Aug 2024
This study aims to examine the impact of self-confidence on entrepreneurial success through a systematic review of existing literature. Self-confidence is an important psychological factor in entrepreneurship, influencing risk-taking, innovation, persistence, and business performance. The research method used is a literature review involving the search and analysis of various relevant empirical studies. The results of the study indicate that high self-confidence is positively correlated with greater risk-taking ability, creativity in innovation, resilience in the face of failure, and achievement of better business performance. In addition, factors such as experience, education and entrepreneurial training, social support, and culture and economic climate are also found to play a significant role in shaping and strengthening entrepreneurial self-confidence. This study also identifies several challenges and gaps in previous research, such as variations in the definition and measurement of self-confidence, and the lack of qualitative and longitudinal approaches. Keywords: Self-confidence, Entrepreneurship, Entrepreneurial Success
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... However, not all individuals have the capability to become successful entrepreneurs. There are various elements that can impact business success, one of which is the adoption of an entrepreneurial mindset (Manafe et al., 2023). According to data from the Ministry of Cooperatives and SMEs, the current level of entrepreneurship in Indonesia has only reached 3.47%, which is relatively low. ...
Does Entrepreneurship Education Matter for Students’ Business Success? The Mediating Role of Entrepreneurial Mindset
Article
Full-text available
  • Aug 2024
Over the recent past, entrepreneurship has become an increasingly popular topic. Many individuals are interested in becoming entrepreneurs and developing their businesses. However, not everyone has the skills to be a successful entrepreneur. There are several elements that can have an impact on business success, one of which is having an entrepreneurial mindset. The purpose of this paper is to determine the role of entrepreneurial mindset in mediating entrepreneurship education on student business success. The research data used is primary data by distributing questionnaires to respondents. The population in this study were students of the Faculty of Economics and Business Sciences, Pelita Bangsa University. The sample in this study was using Non-Probability Sampling. The sample used in this study were 100 respondents using the nonprobability sampling method, namely accidental sampling, which is a sampling technique based on chance, anyone who by chance / incidentally meets the researcher can be used as a sample if it is deemed that the person who happened to be met is suitable as a data source. In this study, the data analysis techniques used were descriptive analysis techniques and inferential analysis techniques using Partial Least Square (PLS) analyzers. According to the research results, entrepreneurship education and entrepreneurial mindset significantly affect students' business success.
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... Furthermore, higher education plays a vital role in preparing students for the workforce. Along with academic proficiency, which includes effective communication, adaptability, collaboration, critical thinking, and creativity (Diawati et al., 2023;Manafe et al., 2023). ...
Workplace Requirements and the Instruction of Soft Skills in Higher Education: A Case Study of Management Techniques Students
Article
Full-text available
  • Aug 2024
To meet the demands of the 21st century, integrating soft skills into educational settings is deemed essential. However, employers often assert that many recent graduates lack the skills needed to adapt to workplace requirements. With this concern in mind, the present paper seeks to evaluate the disparities between the skill sets desired by employers and those provided to students. A quantitative research approach was utilized to accomplish this objective, employing a questionnaire to collect data from 412 Moroccan university students specializing in Management Techniques (MT) at the School of Technology in Meknes. Data analysis was conducted using SPSS version 25, and the research hypotheses were examined using the One-Sample Wilcoxon Signed Rank Test. According to the results of the hypotheses, students exhibit a high level of soft skills, and the instructional methods utilized in university education appear to align closely with workplace expectations and recruiter needs. However, the study suggests that outcomes may vary across different faculties, indicating the necessity for further investigation in this area.
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... Entrepreneurial motivations aim to undertake the action of an entrepreneur as psychological, situational variables, and lead to the ensuing creation of entrepreneurial purpose. EE significantly contributes to encouraging the development of students' entrepreneurial talents and knowledge (Manafe et al., 2023). The entrepreneur also permits attributes such as self-control, tolerance of ambiguity, risk-taking, and required targets. ...
Integrating Psychology into Entrepreneurship Education: A Catalyst for Developing Cognitive and Emotional Skills Among College Students
Article
Full-text available
  • Jul 2024
Entrepreneurship education (EE) has become increasingly recognized as an important tool for encouraging entrepreneurial skills among college students, particularly in developing countries, aiming to drive economic growth and improve livelihoods. This investigation delves into the correlation between psychology and entrepreneurial tendencies among college students, exploring the potential of EE to nurture entrepreneurial skills. Employing a convenience sampling technique, data were gathered from 118 professionals and 209 Chinese college students through a questionnaire method. The research employed descriptive statistics, analysis of convergent validity, hypothesis testing, and structural equation modeling (SEM) for data analysis. The results reveal a significant relationship between psychology and entrepreneurial behavior, emphasizing the importance of integrating psychological principles into EE initiatives. The study underscores the role of EE in supporting ambitious students, considering personality influences, and recognizing psychological diversity, ultimately fostering the development of vital emotional cognitive skills for student success. This study’s novelty contributes to entrepreneurship education by integrating psychology to cultivate ambition, navigate personalities, and develop essential emotional cognitive skills. Further investigations ought to prioritize longitudinal studies and explore causation to further describe the nuanced connection of traits and factors in entrepreneurship education, enabling adapted interventions to enhance cognitive and emotional skills in students.
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... In this research on entrepreneurship education, there are eight key constructs to assess the effectiveness of education in developing students' entrepreneurial ability. These constructs represent different aspects of entrepreneurship education and their impact on students' entrepreneurial mindset and skills [6] (Table 1). Entrepreneurial knowledge and skills refer to the knowledge and competencies individuals acquire through entrepreneurship education, encompassing essential aspects such as business start-up, financial management, marketing strategies, legal compliance, and other practical skills relevant to entrepreneurship (Smith, 2022). ...
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Empowering Coastal Women Tourism Business Actors Based on Bank Indonesia's Go Digital Application in Kupang City
Article
Full-text available
  • Mar 2024
Student-based community service for female coastal culinary entrepreneurs in the tourism sector at Warna Beach, Kupang City is carried out because economically they are the group of business actors most vulnerable to the impact of Covid 19. This service activity aims to provide solutions based on situation analysis through socialization, training, and mentoring. e-financing, e-Payment, e-commerce, Go Digital Bank Indonesia in order to maintain the sustainability of MSMEs and in the long term it is hoped that it can encourage sustainable marine tourism. The method used is Participatory Action Research (PAR). The output target is to increase the knowledge and skills of 16 tourism business partners in using digital applications so that they are able to compete on a local scale. This service activity supports the achievement of main work indicators with a focus on serving the MBKM era on the use of digital technology, sustainability of the green economy, and encouraging the revival of the tourism sector. The achievement of this activity is that 16 partners have been able to carry out digital financial management using the SI APIK application. 16 Partners already have Facebook accounts, WA for business, Grab food, and Open Warung. These accounts have been used to conduct online marketing for each partner. Achieved 50% use of non-cash payments due to problems with several unbanked partners.
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Toward Competitive Advantage: Harnessing Artificial Intelligence for Business Innovation and Entrepreneurial Success
Article
Full-text available
  • Mar 2024
The digital revolution of the past few decades has significantly transformed the business paradigm. One of the technologies dominating this change is artificial intelligence (AI). AI has opened new opportunities in the business field with its ability to process data rapidly and detect previously unseen patterns. The aim of this research is to identify the potential utilization of AI in enhancing operational efficiency and business innovation. The research method employed is a literature review with a qualitative approach. Data used are sourced from Google Scholar for the period from 2017 to 2024. The findings of this research indicate that in an increasingly competitive and dynamic digital era, artificial intelligence (AI) has become a key driver for companies aiming to remain relevant and successful in a constantly changing environment. The use of AI opens new opportunities and stimulates business innovation by enabling companies to optimize strategies, enhance operational efficiency, and create more personalized customer experiences. However, the utilization of AI also brings challenges and risks, including data privacy and security concerns, as well as biases in AI decision-making. To address these challenges, companies must focus on talent development, collaboration among stakeholders, and cultural and organizational paradigm shifts.
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Measuring the Entrepreneurial Mindset: The Motivations behind the Behavioral Intentions of Starting a Sustainable Business
Article
Full-text available
  • Nov 2022
The aim of this study was to investigate the entrepreneurial mindset that underlies the behavioral intentions of starting a sustainable business. The research was driven by the factors that are the key drivers of the economy through fostering growth, job creation, technology adoption, and innovation, as well as poverty alleviation. The research adopted a descriptive research design, with the primary data collected from those respondents with at least two years of sustainable business experience. The model comprised entrepreneurial education, innovativeness, and risk-taking as the independent variables, creativity as a mediating variable, and entrepreneurial intention as the dependent variable. The research adopted structural equation modeling to analyze the research objective and verify the hypothesis. The findings indicate that entrepreneurial education, innovativeness, and creativity significantly and positively influence entrepreneurs’ intention to start a sustainable business. Creativity was found to be influenced significantly and positively by entrepreneurial education, risk-taking, innovativeness, and creativity. The research recommends that to enhance the entrepreneurial mindset and the intention to start a sustainable business, the factors that should be enhanced are entrepreneurial education, innovativeness, and creativity. Innovation leads to the development of new products and services in the market; entrepreneurship education equips a person with entrepreneurship fundamentals, while creativity fosters the progress of a sustainable business toward achieving its objectives.
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Impact of Entrepreneurial Education, Mindset, and Creativity on Entrepreneurial Intention: Mediating Role of Entrepreneurial Self-Efficacy
Article
Full-text available
  • Aug 2021
This study aimed to investigate the direct influence of entrepreneurial education, entrepreneurial mindset, and creativity on the entrepreneurial intention with the indirect role of entrepreneurial self-efficacy. This study applied the structural equation model technique using AMOS software to verify the hypothesis relationships. This study collected self-administered survey data from 365 university students of Jiangsu and Zhejiang province of China. The findings indicated that entrepreneurial education, entrepreneurial mindset, and creativity have a positive and significant influence on entrepreneurial intention. Moreover, results revealed that entrepreneurial self-efficacy partially mediates in the relationship between entrepreneurial education, entrepreneurial mindset, and creativity on entrepreneurial intention. Further implications and limitations are also discussed in this article.
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Entrepreneurial Mindset: An Integrated Definition, A Review of Current Insights, and Directions for Future Research
Article
Full-text available
  • Feb 2023
  • J SMALL BUS MANAGE
Despite an increasing interest in understanding the mindset of entrepreneurs, little consensus exists on what an entrepreneurial mindset (EM) is, how it is developed, or its precise outcomes. Given the fragmented nature of the multidisciplinary study of EM, we review prior work in an effort to enhance scholarly progress. To this end, we identify and review 61 publications on the topic and offer an empirically derived, integrated definition of EM. Further, we examine factors related to EM and offer specific directions for future study. Additionally, we offer broad directions for advancing the trajectory of EM research and conclude with an abbreviated review of pedagogical insights. In all, by offering a definition, reviewing the literature, and highlighting specific and broad directions for future research, we attempt to consolidate and advance what is known about an individual's EM.
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Does entrepreneurship education promote vocational students’ entrepreneurial mindset?
Article
Full-text available
  • Nov 2020
This paper aims to explore how entrepreneurship education determines students' entrepreneurial intentions as well as examine the emerging role of the entrepreneurial mindset in supporting this relationship. A quantitative method was applied to gain a better understanding of the relationship between variables utilizing Structural Equation Modeling (SEM) based variance Partial Least Square (PLS). The participants of this study were recruited from several vocational students in East Java of Indonesia by using an online survey. The findings indicate that entrepreneurship education positively influences both students' entrepreneurial intentions and an entrepreneurial mindset. It also reveals a robust correlation between entrepreneurship mindset and students' entrepreneurship intentions. Lastly, this study's finding shows that the entrepreneurship mindset has successfully mediated the relationship between entrepreneurial education and students' entrepreneurial intention.
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The impact of entrepreneurship education and students' entrepreneurial mindset: the mediating role of attitude and self-efficacy
Article
Full-text available
  • Sep 2020
The main purpose of this study is to investigate the relationship between students' entrepreneurship education and entrepreneurial mindset as well as understanding the mediating role of attitude and self-efficacy. The approach adopted in this study is a convenience random sampling method, which is widely used in entrepreneurship research. Participants were recruited from several universities in Malang of East Java in Indonesia undergoing an online survey and were calculated using structural equation modeling (SEM). The findings of this current study indicate that entrepreneurship education successfully influences entrepreneurial self-efficacy, entrepreneurial attitude, and the entrepreneurial mindset. On the other hand, entrepreneurial self-efficacy promotes entrepreneurial attitude instead of the entrepreneurial mindset. Furthermore, entrepreneurial attitude plays an essential role in mediating both entrepreneurship education and self-efficacy toward students' entrepreneurial mindset.
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Unraveling the entrepreneurial mindset
Article
Full-text available
  • Dec 2021
  • SMALL BUS ECON
Scholars have examined various aspects of the entrepreneurial mindset, which have provided insights into its attributes, qualities, and operations. However, the different perspectives have led to a diverse array of definitions. With the array of differing definitions, there arises the need to better understand the concept of an entrepreneurial mindset. Therefore, the question remains as to what exactly is the entrepreneurial mindset and how do people tap into it. In examining the literature, we find that three distinct aspects have arisen through the years: the entrepreneurial cognitive aspect—how entrepreneurs use mental models to think; the entrepreneurial behavioral aspect—how entrepreneurs engage or act for opportunities; and the entrepreneurial emotional aspects—what entrepreneurs feel in entrepreneurship. Using those as a basis for our work, we unravel the entrepreneurial mindset by examining deeper into the perspectives and discuss the challenges for implementing it.
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FORMATION OF AN ENTREPRENEUR MINDSET IN CREATING COMPETITIVENESS OF FEMALE ENTREPRENEURS
Article
  • Jun 2022
Purpose - The purpose of this paper is to understand the formation of an entrepreneur mindset in creating the competitiveness of female entrepreneurs Design/methodology/approach – The literature review approach is an assessment and critical review of knowledge, ideas, or findings contained in the body of a literature. Findings – The problems faced in the development of Female Entrepreneurs are the entrepreneurial culture that exists in an area that can limit a woman to be creative, the entrepreneurial spirit has not been optimally developed, and personal skills in communication are still relatively low. The emergence of e-commerce as a breakthrough for business people engaged in the creative industry makes female entrepreneurs have to learn more about mastering technology, so that they have the potential to expand opportunities for further development, and can create competitive advantages that are built on the principle of identifying opportunities, innovation, acceptance of risk, flexibility in responding to change, building a clear vision and growth in creativity and innovation. Research limitations/implications – The limitations of writing this paper are shortcomings in article collection, there are still other articles that have not been included in this paper. Practical implications – The results of this literature review will help women entrepreneurs explore their potential and be able to control themselves in running the business they are engaged in. Social implications – Female Entrepreneurs need to get attention from their environment because women also have a big role in advancing the economy of a country. Originality/value – in this paper is the importance of e-commerce in business management as a transaction system, because it will increase market exposure so as to create competitiveness
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Re-thinking Content: Teaching Students About Entrepreneurship Versus How to Be an Entrepreneur
Article
  • Jul 2022
The discipline of entrepreneurship has witnessed significant progress over the past 25 years in terms of the introduction of new courses and degree programmes in universities across the globe. At the same time, the question of what should be taught in basic or foundational entrepreneurship courses remains an open issue. As a result, it is unclear how such topics as the entrepreneurial mindset or the development of entrepreneurial competencies should be approached, and whether topics such as the lean start up or the business plan should be included. Without clear direction on what should be taught, pedagogical discussions regarding how these courses are delivered, such as the relative emphasis on experiential learning, are problematic. This article suggests the question of content in foundational courses in entrepreneurship rests upon the question of whether the educator seeks to teach students about entrepreneurship, or rather, how to become an entrepreneur. A framework is introduced for determining priorities when deciding upon course content. Attention is devoted to seven decision variables for use in determining what to include in a foundational course, and guidance is provided for how one might approach each of these variables. Using this framework, educators can address a number of other issues surrounding foundational courses, including treatments of different contexts for entrepreneurship and the employment of different pedagogical approaches to content delivery.
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Fostering an entrepreneurial mindset: A typology for aligning instructional strategies with three dominant entrepreneurial mindset conceptualizations
Article
  • Jan 2022
Entrepreneurship education in higher education institutions (HEIs) increasingly aims at fostering an entrepreneurial mindset (EM) in students. However, large heterogeneity exists in conceptualizations of EM. This is a challenge for educators as it is difficult to develop instructional strategies to foster students’ EM when there is no clarity about what this mindset is. The purpose of the article is to address this challenge. It does so by analysing and synthesizing current literature in the field of entrepreneurship education in HEIs and develops a taxonomy that depicts three dominant conceptualizations of EM, their theoretical origins and the type of attributes typically associated with each conceptualization. The article goes beyond the integrative literature review by reflecting on the consequences for the design of entrepreneurship education of the simultaneous existence of these three dominant conceptualizations. The author develops a typology for aligning instructional strategies with the EM conceptualizations and thus contributes to practice by providing a better understanding of how to achieve coherence between learning outcomes and instructional choices. The article advances the field’s conceptual knowledge about EM and thereby facilitates future theory generation.
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