Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Entrepreneurial quality among graduate entrepreneurs
Shamsul Huda Binti Abd Rani and Siohong Tih
The originality of this study is mainly in terms of the
identification of the dimension in entrepreneurial quality in
graduate entrepreneur context which is less in receiving
attention in the previous studies. A qualitative study was
conducted to identify the entrepreneurial quality among
graduate entrepreneurs. Seven semi-structure interviews were
conducted with successful graduate entrepreneurs. The
findings of the study indicated that there are seven dimensions
of entrepreneurial quality among graduate entrepreneurs.
Finally it is hoped that by the presence of this study, there will
more successful graduate entrepreneurs in the future.
Keywords: Graduate entrepreneurs, entrepreneurial quality,qualitative studies
Entrepreneurship is critical for the economy as entrepreneurship is an engine of
economic progress, job creation as well as social adjustment (Gurol & Atsan, 2006).
The growing need to hasten economic development by generating new ideas and to
translate into profitable ventures makes entrepreneurship an attention for the
scholars as well as the policy makers (Turker & Selcuk , 2008). Parallel with the
developing interest in entrepreneurship, many countries as diversed as Austria,
Brazil, India, Malaysia, Singapore and the United Kingdom have promoted
entrepreneurship education programmes into the education system since 1990 (Dana
,2001). In Malaysian context, the role of entrepreneurship is critical as Malaysia has
envisioned being a fully developed country by the year 2020 (Saeed & Jain, 2000).
Entrepreneurial Quality
Research on entrepreneurial quality has become an interest in the field of
entrepreneurship. Entrepreneurial quality has been defined in many ways by the
previous researchers. In defining the concept of entrepreneurial quality, the previous
researchers looked at entrepreneurial quality from various perspectives. As the
studies on entrepreneurial quality are growing, the term also has also been defined
from various perspectives. Most of the previous studies defined entrepreneurial
quality as any good and important value and characteristics possessed by the
entrepreneurs (Frederick ,1931; Yusuf ,1995; Guzman and Santos ,2001; Cumplido
& Alcalde ,2002; Cumplido & Linan, 2007; Shuhairimi et. al., 2009; Hvide, 2009). In
addition, other researchers have looked at the entrepreneurial quality from the
psychological perspectives (Valtonen, 2007; Krauss, Frese, Friedrich & Unger ,2005;
Shamsul Huda Binti Abd Rani, National University of Malaysia, Malaysia dieda1211@yahoo.com
Siohong Tih, National University of Malaysia, Malaysia
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Darroch & Clover ,2005) and skills and competency perspective ( Bath, Smith, Stein
& Swann, 2001). In brief, in the past studies, most of the researchers defined
entrepreneurial quality as good and important characteristics possessed by the
entrepreneurs. Thus, with the consideration of the definitions by the previous
researchers, this paper defined entrepreneurial quality as essential characteristics
that lead to entrepreneurial success.
Studies
on
entrepreneurial
quality
are
increasingly
needed
since
entrepreneurship is associated with diversity among individuals having different
interests, opinions and qualities
and
with
creating
opportunities
from
an
uncertain environment (Alam, Islam, Khan & Obaidullah, 2011; K u i p & Verheul,
2003). Entrepreneurial quality also enables individuals to cope with and contribute
to rapid social and economic change (Cotton & Gibb, 1998). In addition, the
development of entrepreneurial quality will be the basis for fostering any type of
future entrepreneurial behavior as personality influences attitudes and the way in
which an individual perceives and reacts to the environment (Kuip & Verheul ,2003).
To date, there are studies conducted on entrepreneurial quality (Darroch &
Clover, 2005; Shuhairimi, Azizi, Ku Halim & Saaodah, 2009; Cumplido &
Linan,
2007;
Valtonen,
2007;Litunen
,2000,
Cumplido
&
Alcalde,
2002;
Sambasivan, Yusop & Mohani, 2009; Valtonen ,2007; Gurol & Atsan ,2006; Kuip &
Verheul ,2003; Koh 1996 ). Most of the previous research on entrepreneurial quality
focused on Small Medium Enterprise (SME) and Small Medium and Micro Enterprise
(SMME) (Darroch & Clover ,2005; Cumplido & Alcalde, 2002; Sambasivan et. al
,2009). Based on past research on entrepreneurial quality, limited attention has been
given to understanding the e nt rep re neu ria l quality in
graduate entrepreneurs
(Dodd, Anderson &Jack , 2005; Kuip & Verheul, 2003). Studies on entrepreneurial
quality among graduate entrepreneurs are important particularly in Malaysia to
encourage and to provide knowledge for individuals, societies as well as the
institutions in the development of entrepreneurial quality among graduate
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
entrepreneurs. Thus, looking at the importance of entrepreneurial quality among
graduate entrepreneurs in contributing to entrepreneurial success, the presence of
this paper is hoped not just to increase the number of graduate entrepreneurs but
also to increase the number of successful graduate entrepreneurs in the future..
Therefore, to answer the question, there is important to study on the entrepreneurial
quality among graduate entrepreneurs in developing and producing successful
entrepreneurs for the future.
Graduate Entrepreneurs
Graduate entrepreneurs in this paper were defined as graduates who have
graduated from higher education institutions and are currently running their own
business. Realizing the important of having more graduate entrepreneurs in
Malaysia, Malaysian government has put efforts in encouraging graduates to become
entrepreneurs (Utusan Malaysia 2009). Botha (2006) claimed that graduate
entrepreneurs are more into international ventures, intellectual as well as involved
in services which deals with advanced knowledge. Due to the advantage of being
graduates, graduate entrepreneurs are more likely to have received beneficial
business advice from informal networks, government business services, friends
and family, customer and suppliers, and thus have public procurement customers at
the national or international level.
Sample
Sample size for the study was not determined earlier as in the quantitative study. The
researcher collected the information and analyzed the data to the level of no more
new information gained from the interviews. Sampling was considered sufficient
when the themes or category from the data are saturated which means that there are
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
no new themes gained from the new respondent in the interview session conducted
(Strauss & Corbin 1998).
Method
Interviews were conducted to get the real and natural information from the
respondents before the survey is done.
The findings of the study were used in
identifying the dimensions and explaining the concept of entrepreneurial quality in
graduate entrepreneurs. Semi structured interview protocol was used as an
instrument to ask and record the answers given by the respondents in this study.
Researcher asked questions based on the interview protocol, listen to the answers or
make observation and record the answers (Creswell 2005). Interviewing people who
are involved in the context to be studied is a direct way to seek for information
(Tuckman, 1999). Seven interviews have been conducted with successful graduate
entrepreneurs in developing dimensions for entrepreneurial quality in graduate
entrepreneurs. Table 1 presents the profile of the interviewees (graduate
entrepreneurs). From the table, it shows that the all interviewees are above 30 years
old and have more than five years experience in running their business.
Table 1: Profile of the interviewees
Number
Code
Age
Business
operation (in
years)
Sector
Interviewee 1
GE1
34 years
6 years
Product and services
Interviewee 2
GE2
36 years
8 years
Legal services
Interviewee 3
GE3
40 years
15 years
Property and
Development
Interviewee 4
GE4
46 years
20 years
Hotel and Tourism
Interviewee 5
GE5
49 years
23 years
Manufacturing
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Interviewee 6
GE6
49 years
20 years
Cosmetic Industry
Interviewee 7
GE7
38 years
10 years
Construction
During each interview, the researcher opened the discussion by briefing the
graduate entrepreneurs on the purpose of the interview by highlighting the issues
related to graduate entrepreneurs.
Findings from the interviews
The interviews were recorded and fully transcribed. Based on the themes, the
entrepreneurial quality among graduate entrepreneurs have been identified. Nine
dimensions of entrepreneurial quality among graduates are need for achievement,
locus of control, risk taking propensity, innovative, creative, independent, opportunist,
knowledgeable and perseverance. Below is the explanation of each entrepreneurial
quality among graduate entrepreneurs.
Need For Achievement
The interviews with graduate entrepreneurs revealed that need for achievement is
one of the entrepreneurial quality among graduate entrepreneurs. Need for
achievement is the most popular entrepreneurial quality from the literature reviewed
as well as from the preliminary qualitative interviews with graduate entrepreneurs.
The terms need for achievement, intrinsic motivation as well as intrinsic motivations
are used interchangeably and they carry similar meaning (Lumpkin & Dess 1996). Mc
Clelland (1961) proposed that need for achievement, risk taking, and locus of control
are important qualities for entrepreneurs (Rasheed 2001). Need for achievement
expresses the motivation of entrepreneurs to search for new and better decision than
those given in the actual environment (Lumpkin & Dess 1996). The following
statements from the interviews highlight this theme.
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
“…to be an entrepreneur, I think a certain sets of quality have to be present. I
think, first and foremost is the desire to want or achieve standard of living...I
think probably the drive, the drive to want to better yourself…”
(Graduate
entrepreneur 4)
“...The main thing that graduate entrepreneurs should possess is the motivation to
achieve their target...”
(Graduate
entrepreneur 7)
Risk Taking Propensity
Risk taking propensity was identified as another one of the essential characteristics
which refers to entrepreneurial quality in graduate entrepreneurs. Several scholars
have emphasized risk taking propensity as one of the most quality features of an
entrepreneur (Valtonen 2007). Risk taking propensity has long been associated with
entrepreneurs in both large and small ventures (Stewart et. al 1998). According to the
definition of entrepreneurship, entrepreneurs are perceived as having risk taking
propensity than others (Macko & Tyszka 2009). Based on the interview, the following
statements highlighted this theme.
“…graduate entrepreneurs must be smart to create something new and have the
courage, courage to take risk because as for me risks is high risk high return but
don’t take excessive risk …”.
(Graduate
entrepreneur 5)
“...Courage to take risk is the most important thing. If we want to succeed we must
have the courage to take risk. As graduate entrepreneur i apply this in my
business...”
(Graduate
entrepreneur 6)
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Locus of Control
Another entrepreneurial quality identified as entrepreneurial quality among graduate
entrepreneurs was locus of control. Locus of control has been identified as another
popular entrepreneurial quality based on the literature reviewed and the preliminary
qualitative interviews with graduate entrepreneurs. Locus of control represents an
individual’s perceptions about the rewards and punishments in life (Koh 1996). An
individual who believes that the achievement of an end or goal is dependent upon
his/her own ability is characterized by an internal locus of control. Individuals with
internal locus of control also believe that they are able to control life’s events. In
contrast, individuals with external locus of control believe that life events are the
result of external factors, such as, luck, fate or chance. Generally, entrepreneurs
prefer to take and hold the situation instead of leaving things to external factors.
Rotter (1990) claimed that entrepreneurs with an internal locus of control strive more
for achievement compared to entrepreneurs with external locus of control. Based on
the interviews conducted, the following statements highlight this theme.
“...You have to have the determination and the willingness to work hard. Then you
will succeed....”
(Graduate
entrepreneur 4)
“.... It also believing that i guess that if you take care of your people well enough,
maybe one day you know something might turn around and change your fortune...”
(Graduate
5)
Innovative
entrepreneur
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
The interviews conducted also revealed innovative as an entrepreneurial quality
among graduate entrepreneurs. According to Butler & Ko (2007), innovativeness is
what separates humans from other species. Innovative is defined as the practical
implementation of the idea concept to ensure that the set aims on a commercial,
profitable basis are met, in line with a specific opportunity in the market environment.
Kourilsky (1995) and Robinson et. al (1991) proposed that innovativeness is an
important variables . Innovative reflects an entrepreneur’s creative desire in engaging
with new ideas, seek novelty, and create innovative processes (Guzman et. al 2006).
In fact, according to Flynn et. al. (2003), the ability of an organization to grow is
depends on the capability to generate new ideas and to utilize them effectively for
long term benefits of the organization. Based on the interviews, being a graduate
entrepreneur, someone has to be innovative by producing unique product/services to
the market. The following statement highlights this theme.
“…graduate entrepreneurs must be smart to create something new …”.
(Graduate
entrepreneur 3)
“...Innovative is another quality that graduate entrepreneur should possess as they
have extra knowledge than others.
(Graduate
entrepreneur 2)
Creative
Based on the interviews conducted, creative appears to be one of the entrepreneurial
quality among the graduate entrepreneurs. Creative is defined as the generation of
novel and appropriate solutions to open-ended problems in any field of human
activities (Teresa 1997). In many entrepreneurs’ autobiographies and memoirs,
innovative and creative are among the most discussed qualities (Valtonen 2007).
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
According to Ko and Butler (2007), creative is a quality that separates humans from
other species. Creative is also known as the essential aspect of entrepreneurship.
Therefore most entrepreneurs possess this quality in running the business (Koh
1996). Other than that, creative is also seen as important to entrepreneurial
behaviour as it is linked with the identification of business opportunities. Based on the
interviews, the following statement highlights this theme.
“…As I told just now, creative, are some of the qualities that graduate
entrepreneurs should have…”.
(Graduate
entrepreneur 7)
“… As an entrepreneur, you must always think out of box. So must think something
that sometimes ordinary people are not thinking of. So this is important and
for me, graduate entrepreneurs should have this quality…”
(Graduate entrepreneur
5)
Independent
Independent has been referred to as the desire to be in control (Kuip & Verheul
2003).
Tajeddini and Mueller (2008) pointed that, people with high independent
prefer self-directed work, care less about other’s opinions and rules, and prefer to
make decision alone. According to Kirby (2003), people with a high independent,
consider individualism and freedom important, and averse to rules, procedures and
social norms. Prior studies (Koh 1996; Tajeddini & Mueller 2008) claimed that
entrepreneurs have a higher need for independent than the general population.
Furthermore, people who are independent controls those who wish neither lead nor
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
to be led, those who want to go their own way, uninfluenced and coerced by others
(Lee 1997). The following statements highlight this theme.
“…Graduate entrepreneurs are more independent because we have experienced
university life, we have at least something in 3 to 5 years in campus. We don’t
depend on others…”
(Graduate
entrepreneur 5)
Opportunist
Based on the interviews with graduate entrepreneurs, this quality has been identified
among graduate entrepreneurs. Opportunist refers to the degree to which an
individual attempts to gain and manipulate power (Hisrich 2000). Opportunity is
essential for entrepreneurship. If an entrepreneur can recognize opportunities for
development, this will affect the future growth potential (Chuang et. al 2012).
Opportunistic behaviour in the entrepreneurial field includes behaviour such as
intensive bargaining and commanding premium prices for newly developed products.
The following statements highlight this theme.
“…I started doing my research in cosmetic in 2003 to 2004. At that time, Malaysian
entrepreneurs generally, malay entrepreneurs particularly have started exploring in
skin care. But when I study, they focused on skin care industry that have
been monopolized by outsiders whether from Europe or US, if the products
are branded, or, from China, if the products are cheap items. There are still no
products made in Malaysia. So, from there
I
see
the
short
fall
in
Malaysia market. So, the first phase is cosmetic color because it has not been
produced by malay entrepreneurs…”
(Graduate entrepreneur
5)
“…I try to create something that can be grabbed by others and not only to grab
the existing opportunities…”
(Graduate entrepreneur 3)
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Perseverance
Markman and Baron (2003) claimed that under challenging circumstances,
individuals high in perseverance perform better whereas individuals who fail to
persevere experience increased anxiety and negative effect. Another quality
mentioned in the preliminary interview and literature on entrepreneurial quality was
perseverance. Graduate entrepreneurs describe themselves as individuals who
never give up, regardless of the situation or possible impact (Valtonen 2007). A
persevered entrepreneur will face the obstacle upon having decided what he/she
wants and won’t withdraw from his/her position. Markman and Baron (2003)
concluded that this quality may be more important than the idea or the opportunities.
The following statements highlight this theme.
“…Other than that, perseverance is something that I was also somewhat lucky to
have…”
(Graduate
entrepreneur 3)
“...As graduate entrepreneur, i think perseverance helps me very-very much...”
(Graduate
entrepreneur 4)
Knowledgeable
Knowledgeable was another entrepreneurial quality among graduate entrepreneurs
that was identified from the interviews conducted with graduate entrepreneurs. Being
an entrepreneur, having knowledge on ways to serve markets, customer problems
and knowledge on market is important. Knowledge on how to serve markets helps
the entrepreneurs to understand how technologies can be applied to meet the needs
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
of a business market. Other than that, having knowledge on customer problems
generates information about customers. An accurate understanding of customer
needs is essential to produce successful new products. Knowledge on market on the
other hand, involves information about how particular markets operate. Based on the
interviews, the following statements highlight this theme.
“…Graduateentrepreneurs
have bonus because they are knowledgeable
compared to non-graduate entrepreneurs who only have experience...
(Graduate entrepreneur
2)
“…If we are given high IQ, we have more advantages compared to others, then if we
involve in business, why must we just follow the way people who have lack of
knowledge that we had learnt in University?...”
(Graduate
entrepreneur 3)
“…Graduateentrepreneurs
have bonus because they have knowledge
compared to other entrepreneurs who only depends on experiences. Then the
internal of the entrepreneurs could be contributed since the university’s life…”
(Graduate
entrepreneur 1)
Reliability and Validity
According to Creswell (2007), reliability in qualitative study is more referred to the
reliability of the data obtained. Coding of the themes must be approved by other
coders. Creswell and Clark (2007) claimed that reliability can be obtained by
comparing the coding done by several persons or lecturers in the same field of study
and the persons are familiar with qualitative study. For this purpose, the researcher
discussed the findings by preparing a coding table to two academicians in
entrepreneurship who are expert in qualitative studies. Coding refers to the data
transcription in the table and the rater put the consent with the coding done by the
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
researcher. The researcher then counts the score and found that the level of
agreeableness is 100 percent. Basically, this procedure is called inter-rater reliability
or intercoder agreement.
Exploratory Factor analysis
Exploratory factor analysis was conducted in order to determine the construct validity
as well as the sub-constructs for the entrepreneurial quality among graduate
entrepreneurs. This factor analysis has been carried out after the data screening and
fulfilled other assumptions (Coakes & Steed, 2007). In this study, the factor loading is
0.50. According to Cavana et. al (2000) and Hair et.al (2006), the minimum value for
factor loadings is 0.5. This analysis has been carried out several times. The first time
is to choose items which have more than 0.5 value, while other items which are less
than 0.5 are removed. The examination of significant factor loadings was based on
the suggestion from the literature. In this paper, loadings above 0.5 are all reported.In
the initial stage, there are 46 items for entrepreneurial quality among graduate
entrepreneurs. After the factor analysis, the accepted items are 27. Finally, the
results showed that the entrepreneurial quality among graduate entrepreneurs was
categorized under seven sub-constructs. There are need for achievement (5 items),
risk taking propensity (3 items), creative (6 items), independent (4 items), locus of
control (3 items), perseverance (3 items) and knowledgeable (3 items).
The result of factor analysis had produced a multi-dimensional scale of
entrepreneurial quality among graduate entrepreneurs. Thus, these scales have
been tested in terms of the reliability and validity. The purpose is to ensure that the
scale possesses an acceptable level of internal consistency and is perceived to
measure the concept it supposes to measure.
Table 1: The factor loading for Entrepreneurial quality among graduate entrepreneurs
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Items for Need For Achievement
Item numbers
Factor loadings
EQ1
0.583
EQ2
0.613
EQ3
0.689
EQ4
0.658
EQ5
0.705
Items for Risk taking Propensity
EQ6
0.650
EQ7
0.747
EQ8
0.741
Items for Creative
EQ9
0.576
EQ10
0.741
EQ11
0.664
EQ12
0.602
EQ13
0.843
EQ14
0.854
Items for Independent
EQ15
0.721
EQ16
0.756
EQ17
0.707
EQ18
0.625
Items for Locus of control
EQ19
0.717
EQ20
0.588
EQ21
0.782
Items for Perseverance
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
EQ22
0.726
EQ23
0.759
EQ24
0.787
Items for knowledgeable
EQ25
0.780
EQ26
0.764
EQ27
0.799
Discussion
The analysis showed that entrepreneurial quality among graduate entrepreneurs is a
multidimensional construct, which is consistent with previous findings. In this study,
there are seven dimensions namely need for achievement, risk taking propensity,
locus of control, independent, creative, perseverance and knowledgeable which have
been identified as the dimensions of entrepreneurial quality among graduate
entrepreneurs.
Need For Achievement
Need for achievement has been identified as the famous entrepreneurial quality in
the previous literature. This study indicates that all graduate entrepreneurs have this
quality in running and operating their own business. This entrepreneurial quality has
been fostered in graduate entrepreneurs since there are a group of educated people
and they were always concerned with their achievement during studies. In fact, the
reason of their admission to university was based on their successful achievement in
academic as well as the co-curriculum. In total, it shows that graduate entrepreneurs
have the quality of need for achievement that will help them to succeed in their life.
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Risk Taking Propensity
Risk taking propensity has also identified as another dimension in entrepreneurial
quality among graduate entrepreneurs. Same as need for achievement, several
scholars have emphasized risk taking propensity as one of the most famous quality
features of an entrepreneur (Valtonen, 2007). In doing business, entrepreneurs
cannot avoid the risk. Additionally, Stewart et. al (1998) concluded that
entrepreneurs, who have achieved a higher profit and growth, are more likely to show
a greater risk taking propensity. Therefore risk taking is an important factor in
developing strong entrepreneurial personality, which is useful for business activities
(Zafir & Fazilah, 2011). Based on the interviews, all graduate entrepreneurs possess
this quality and claimed that this quality is very important in order to survive and
achieve entrepreneurial success in business.
Locus of Control
Locus of control is another dimension in entrepreneurial quality among graduate
entrepreneurs. Locus of control represents an individual’s perceptions about the
rewards and punishments in life (Koh, 1996). From the interview conducted, the
graduate entrepreneurs believe that, their hard work and their effort lead to their
entrepreneurial success. This quality can be categorized as the internal locus of
control. Koh (1996) claimed that an individual who believes that the achievement of
an end or goal is dependent upon his/her own ability is characterized by an internal
locus of control. Additionally, the graduate entrepreneurs who have been interviewed
claimed that they have high internal locus of control.
Independent
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Another entrepreneurial quality among graduate entrepreneurs identified in this study
is independent.
Tajeddini and Mueller (2008) claimed that, people with high
independent prefer self-directed work, care less about other’s opinions and rules, and
prefer to make decision alone. Based on the interview conducted in this study,
graduate entrepreneurs believe that their university experience helped them to be
more independent since they manage themselves throughout their study duration of
3 to 4 years in campus. Thus, this quality makes them to be more independent in
making decisions for business.
Creative
Other than that, creative also has been identified as another entrepreneurial quality
among graduate entrepreneurs. Creative is known as the essential aspect of
entrepreneurship and most entrepreneurs possess this quality in running the
business (Koh ,1996). Creative is also seen as important to entrepreneurial
behaviour as it is linked with the identification of business opportunities. As for
graduate entrepreneurs, their exposure in university with the presence of friends,
colleagues, lecturers and successful entrepreneurs help them to increase the level of
their creativity which can lead to entrepreneurial success. The creativity in this
context means that they can think of creating products/services different from other
entrepreneurs.
Perseverance
Baron and Markman (2003) claimed that under challenging circumstances,
individuals high in perseverance perform better whereas individuals who fail to
persevere experience increased anxiety and negative effect. Graduate entrepreneurs
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
describe themselves as individuals who never give up, regardless of the situation or
possible impact (Valtonen, 2007). A persevered entrepreneur will face the obstacle
upon having decided what he/she wants and won’t withdraw from his/her position.
Baron and Markman (2003) suggested that more studies that include perseverance
in the face of business as this quality may be more important than the idea or the
opportunity.
Knowledgeable
Knowledgeable is a unique dimension for entrepreneurial quality among graduate
entrepreneurs.
There
are
less
studies
in
entrepreneurship
had
identified
knowledgeable as a dimension in entrepreneurial quality. Since this study involved
graduate entrepreneurs, this quality has been identified. This is in line with the nature
of graduate who possess this quality after they graduated from their university. Based
on the interviews conducted with graduate entrepreneurs in this study, through the
lectures, student’s activities as well as their exposure throughout their university life,
it helps to develop them to be knowledgeable persons in the future.
Implication for research
The entrepreneurial quality in graduate entrepreneurs is important to be studied as
they can help in the survival as well as the success of a business (Guzman & Santos
,2001). The scientific contribution is the new construct of entrepreneurial quality
which helps to understand better graduate entrepreneurs. With the identification of
entrepreneurial quality in graduate entrepreneurs, this will contribute to the
methodological part of the validation of entrepreneurial quality model in the context
of graduate entrepreneurs.
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Implication for practice
Kuip and Verheul (2003) claimed that more studies in entrepreneurial quality are
needed as a starting point to design entrepreneurial educational program in
educational field.
Other than that, Bierbaum (2007) claimed that widening the
range of feedback on graduate qualities will significantly assist higher education
institutions in enhancing the graduate qualities.
Specifically, being a graduate
entrepreneur, someone has to possess certain qualities in him/her as the
entrepreneurial quality is very important as it is the basis of fostering any types of
future behaviour of an entrepreneur (Kuip & Verheul ,2003).
Conclusion
This study reveals that entrepreneurial quality among graduate entrepreneurs is a
multidimensional construct namely need for achievement, risk taking propensity,
locus of control, independent, creative, perseverance and knowledgeable. Kwong et.
al (2006) believed that knowledge on entrepreneurial quality may overcome the
issues of the higher level of business closure among graduate entrepreneurs.
Therefore the study on entrepreneurial quality among graduate entrepreneurs should
be conducted to produce more successful graduate entrepreneurs in the future. Due
to the importance of the existence of more graduate entrepreneurs, studies in
entrepreneurial quality are needed by academics as this quality will increase the
ability to generate future income that will ensure entrepreneurial success (Barreira,
2004).
References
Alam, Islam, K ha n, Obaidullah. 2011. Effect on entrepreneur and firm
characteristics on the Business success of Small and Medium Entreprises
(SMEs) in Bangladesh. International Journal of Business and Management
6(3) :289-299.
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Baron,R.A & Markman,G.D .2003. Person-entrepreneurship fit: why some people
are more successful as entrepreneur than others. Human Resource
Management Review.13: 281-301.
Barreira, J.C.D. 2004. The influence of business knowledge and work experience,
as Antecedents of entrepreneurial success. Thesis o f Doctor Philosophy
faculty of Economic and Management Science. University of Pretoria.
Bath,D., Smith, C., Stein,S. & Swann, R. 2001. Beyond mapping and embedding
graduate attributes: Bringing together quality assurance and action learning to
create a validated and living curriculum. Higher Education Research and
Development 23(3):313-328.
Bierbaum,R. 2007. University of South Australia graduate qualities and learning
outcomes. Employer feedback. Discussion paper, Carrick Institute for Learning
and Teaching in Higher Education, University of South Australia.
Cavana,R., Delahaye,B.L. & Sekaran,U. 2000.Applied Business Research.
Coakes, S.J. & Steed,L.2007. SPSS Version 14 for windows: Analysis without
anguish. Milton, Australia: John Wiley & Sons.
Cotton,J. & Gibb, A.A. 1998. Entrepreneurship in schools and college education –
Creating the leading edge. In: Proceedings of the Conference on Work Futures
and the role of entrepreneurship and enterprise in schools and Further
Education, London, 4-6 December:5-25.
Cumplido, F.J.S. & Alcalde, F.L. 2002. Towards an empirical methodology for the
measurement of the quality entrepreneur: the case of Sevillian
entrepreneurs. 42nd ERSA Conference. Dortmund. 27-31 August 2002.
Cumplido, F.J.S. & Linan,F. 2007. Measuring entrepreneurial quality in Southern
Europe. International Entrepreneurial Management Journal 3: 87-10.
Dana
(2001), The education and training
Education+Training 43 8/9: 405-415.
of
entrepreneurs
in
Asia.
Darroch,M. & Clover,TA. 2005.The effects of entrepreneurial quality on the success
of small, medium and micro agri-businesses in Kwazulu-Natal, South Africa.
Journal of Agrekon 44(3): 321-338.
Dodd, S.D., Anderson, A.R. & Jack, S.L. 2005. The role of family and friends
members in entrepreneurial networks: Beyond the Boundries of the family
and friends. Business Review 18 (2): 135-154.
Frederick, M.L. 1931. Personal qualities requisite for success in business. The
Journal of Business of the University of Chicago 4(3):36-44.
Gurol, Y. & Atsan,N. 2006. Entrepreneurial characteristics amongst university
students. Education & Training 48(1): 25-38.
Guzman, E.J. 2004. The booster function and the entrepreneurial quality: an
application to the province of Seville. Entrepreneurship and Regional
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
Development.
Guzman, J., & Santos, F.J. 2001. The booster function and the entrepreneurial
quality: an application to the province of Seville. Entrepreneurship and
Regional Development.
Hair, J. Samuoel, P., Page, M. & Money, A.2006. Research Methods For
Business. England: John Wiley&Sons Ltd.
Hvide, H.K. 2009. The quality of entrepreneurs. The Economic Journal 119: 10101035.
Koh, H.C. 1996. Testing hypotheses of entrepreneurial characteristics: A study of
Hong Kong MBA students. Journal of Managerial Psychology 11(3): 12-25.
Krauss, S.I., Frese, M., Friedrich, C. & Unger, J.M. 2005. Small business owners.
European Journal of work and Organizational Psychology. 1-42.
Kuip, I.V.D.& Verheul,I . 2003. Early Development of Entrepreneurial quality: the
Role of Initial Education. Scientific Analysis of Entrepreneurship and SMEs.
Kwong,C., Evans,D.J. & Brooksbank, D. 2006. The state of graduate
entrepreneurship in the UK-Preliminary Policy Paper Based on GEM 2005
data. GEM Wales Working Paper Series. United Kingdom.
Maharati & Nazemi. 2011. The relationship between personal qualities of
entrepreneurs and their success in small industries: An impirical study in
Iranian culture. China USA Business Review 10(7) :551-572
Saeed, M. & Jain, K.K. 2000. Malaysian model of entrepreneurship development for
its indigenous people. Journal of International Business & Entrepreneurship 8:
1-12.
Sambasivan,M. & Yusop,Y., & Mohani 2009. The impact of personal qualities and
management skills of entrepreneurs on venture performance in Malaysia:
Opportunity recognition skills as a mediating factor. Technovation Vol 29:
788-805.
Shuhairimi,Ku Halim, Azizi & Saaodah. 2009. Core values in successful
entrepreneur: An evaluation of Islamic dimensions towards the formation of
ummah tranquillity.
Tajeddini, K. & Mueller, S.L. 2008. Entrepreneurial characteristics in Switzerland and
the UK: A comparative study of techno-entrepreneurs. Journal of International
Entrepreneurship 7: 1-25.
Tuckman,B.W. 1999. A tripartite model of motivation
Attitude/drive/strategy. The Ohio State University.
for
achievement:
Turker,D.& Selcuk,S.S. 2008. Which factors affect entrepreneurial intention of
university students? Journal of European Industrial Training 33(2):142-159.
Valtonen,H. 2007. Does culture matter? Entrepreneurial attitudes in the
autobiographies of twentieth-century business leaders in Finland and the
Proceedings of 8th Asian Business Research Conference
1 - 2 April 2013, Bangkok, Thailand, ISBN: 978-1-922069-20-7
United State.
http://www.thebhc.org/publications/BEHonline/2007/valtonen.pdf.
Yusof. 1995. Critical success factors for small business:Perceptions of South Pacific
entrepreneurs. Journal of Small Business 33(2) 68-73.
Zafir & Fazilah. 2011. Entrepreneurial success: An exploratory study among
entrepreneurs. International Journal of Business and Management 6(1): 116125.