199232623 Business Research Project

METHODS IN BUSINESS RESEARCH

MBA-II (C)

SUBMITTED TO:

SIR H.MUSHTAQ AHMAD

RESEARCH PAPER ON

Intent of Entrepreneu

rship in Fresh

Graduates

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Table of Contents

1. Acknowledgement 3

2. Abstract 4

3. Introduction 5

4. Contribution 7

5. Literature Review 8

6. Significance of the Study 11

7. Objectives of Study 12

8. Theoretical Framework 12

9. Variables 13

10. Hypothesis 13

11. Methodology 14

12. Data Analysis 15

13. Test of reliability 15

i. Knowledge 15

ii. Attitude 19

iii. Role Model 23

14. Discussion 27

15. Conclusion 27

16. References 29

17. Appendix 30

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Acknowledgement

We bestow all praises, acclamations and appreciation to Almighty Allah the most merciful and compassionate, the most gracious and beneficent, whose bounteous blessing enabled us to perceive and pursue higher ideals of life. All praises and respects are for His Holy Prophet Mohammad (peace be upon him) who enabled us to recognize the creator.

We gratefully acknowledge supervision of Mr.H.Mushtaq Ahmad, Assistant Professor Department of Management Sciences Bahria University Islamabad, who was very kind, helpful and cooperative throughout the project. We are also heart fully thankful to Ms.Nayab for her support and guidance throughout the project.

Special thanks to our parents, whose moral support, encouragement and prayers enabled us to complete this work dedicatedly.

We would like to thank all the faculty members for their cooperation and healthy suggestions throughout our project.

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ABSTRACT

Entrepreneurship has been emphasized in many countries as a way of boosting economic growth and job creation. As entrepreneurship is becoming popular around the world, its education should be customized according to each country’s unique cultural context. In recent years it has become increasingly apparent that graduates are seriously interested in establishing their own businesses. This trend mirrors changes in employment patterns within the general economy.

In this research paper different aspects and factors that lead the graduates to be entrepreneurs has been explored. What makes them to decide to start their own business rather than to do jobs. There are several determinant variables that evaluate a graduate intent towards entrepreneurship. These are Personal values and characteristics, Childhood environment and role model, Education, Age, Experience, Market knowledge, Work history, Government policy. We took following factors to be explored in depth for the purpose of conducting research, Knowledge , Attitude, Role Model. In the following study questionnaires were used to gather data. We received 151 responses out of 180 questionnaires dispatched to different universities in Islamabad for data collection.

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INTRODUCTION

Entrepreneurship has long been considered a significant factor for socioeconomic growth and development because it provides millions of job opportunities, offers a variety of consumer goods and services, and generally increases national prosperity and competitiveness (Zahra, 1999). In recent years, a wave of interest in entrepreneurship has touched almost every country in the world because of increasing global competition based on agility, creativity and innovation. The increased interest in entrepreneurship can also be attributed to the changing structure of the western economy, the trend to downsize large companies, changing business patterns, and developing market economies in China, India, and Eastern Europe (Hynes, 1996).

There is no universal definition of entrepreneurship and scholars’ view of the topic has changed considerably since Schumpeter (1934) defined it for the first time. However now it has become basis for a whole new field of study. And different institutes in different parts of the world offer different modules, courses, and training programs targeting this segment of studies. Choosing a right career is the most important decision in some one’s life, especially when you are taking initiative on your own where there are thousands of risks involved in terms of money, decision making, and cut throat competition. Entrepreneur is the word derived from French language word enterprise, means a person who undertakes the commercial venture according to oxford dictionary..

Entrepreneurship education provides students motivation, knowledge, and skills essential for launching a successful venture company (Cho, 1998). Nevertheless, the extent of entrepreneurship education by country differs according to each country’s unique cultural context (Lee and Peterson, 2000). Most research about the decision to start a business includes background or predecessor factors underlying the entrepreneurial decision. Included among those antecedent factors is the influence of role models on the potential entrepreneur’s thought process. Business owners have the opportunity to share their wisdom and practical knowledge with the learner. By including their children in their firm, business owners provide the opportunity to gain entrepreneurial knowledge that will become valuable in future business start-ups (Stephens et al., 2006).

Drucker (1985) called entrepreneurship an “innovative act, which includes endowing existing resources for new wealth-producing capacity.” (Gartner 1985) described it as the “creation of a new organization.” It is important to note, however, that entrepreneurship, a primary source of innovation, may involve the development of new visions and business methods for established companies as well as the creation of new organizations (Carnier, 1996). Therefore, entrepreneurship can be applied to all kinds of organizations including non-profit institutions. Although many studies assert that entrepreneurs are different from non–entrepreneurs, there is no unified definition description of entrepreneurs. Instead, scholars have developed various definitions of entrepreneurs (Brockhaus,1980).

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Youngsters are more energetic and enthusiastic. They are usually innovators and risk takers, they want to take lead in any given set-up. So as our topic suggests fresh graduates are more like to take initiative on their own to kick off new businesses and entering into the market as entrepreneurs.

Factors that influence intentions entering entrepreneurial market depend upon different situations. Gartner (1985) attempted to find differences in personality and background between entrepreneurs and non-entrepreneurs—namely, that entrepreneurs are cultivated by cultural, economic, social, political, and educational backgrounds that are fundamentally different from those of non-entrepreneurs and that each entrepreneur has his/her unique motivation, goals, and talents for venture creation according to his/her unique background. (Thandi, Sharma, 2004) explains the few factors influencing decision of a graduate to be a entrepreneur knowledge, skills, attitude and experience. Greene and Saridakis (2003)examined graduate entrepreneurship over a four-year period between 1999 and 2003, and found that self-employment rate increased steadily as fresh graduates built up labour market experience. The research identified various factors that influence graduate entrepreneurship.

In Personal characteristics the Graduates that are older, male and have parents with prior experience of entrepreneurship are most likely to become graduate entrepreneurs. The research, however, did not find statistically significant differences between the social class background or the ethnicity of the employed and the self-employed graduates.

In Skills the Comparison between graduate entrepreneurs (2003) and employed graduates in the Class of ’99 data set reveals that both groups received much the same type of skills development whilst in higher education. Furthermore, amongst the current graduate entrepreneurs, the skills they developed in higher education had made no difference to choosing self-employment. The research, however, found that entrepreneurial skills learnt during higher education do appear to have a long run impact on future entrepreneurial intentions.

In Attitudes, Greene and Saridakis (2003) reported that entrepreneurs are most likely to see themselves as being extremely ambitious. When asked about their long term values, they place less emphasis on career development and friends compared to the employed, and do not seem overly concerned with financial issues despite the initial attraction of entrepreneurship being the possibility of an attractive salary. Similarly, earlier research by Rae and Woodier (2006) reported that graduates who have embarked successfully on self-employment tend to display high career commitment, intrinsic motivation and single mindedness.Findings from the Greene and Saridakis (2003) report suggested that the graduate entrepreneurs in the Class of ’99 study tend to be motivated by non-financial factors. In fact, compared to the employed, four years after graduation, graduate entrepreneurs reported lower income levels but higher levels of satisfaction. Although there is a minority who have done well economically, the majority of graduate entrepreneurs are found to be relatively poor but happy.Sources of support Greene and Saridakis(2003) reported that the most likely sources of advice and guidance for graduate entrepreneurs are informal sources such as family, social networks and work colleagues. Compared to the graduate employees, entrepreneurs were more likely to

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make use of academics, but less likely to make use of their careers service whilst at university and less likely to make use of careers publications and recruitment agencies.

CONTRIBUTION

This research will help to understand the intentions of graduates that what makes them to accept the challenging task of being a capitalist or an entrepreneur. What risks are involved when they decide to start-up their own business. This research will help graduates of different fields understand the Pros and Cons of entrepreneurship.This study will also contribute by helping the graduates for caste their future plans for entrepreneurship and how should they plan and approach each step.

This paper will be of special interest to researchers who want to conduct any kind of investigation on ‘intentions of fresh graduates for forming an enterprise’. This research will cater the problems of those students who have recently completed their studies and interested to form new venture or want to select their career. This research paper will also provide facts and figures based on deep and thorough research to those who want to compare the salaried based jobs with that of forming their own business. This paper might help government officials i.e. Ministry of Small and Medium Enterprise, to form or enhance their policies according to the trend in forming new ventures.

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LITERATURE REVIEW

Following is a very brief review of some findings on factors influencing entrepreneurship and some work done on entrepreneurship and tertiary education. Neely (2003) presented ‘Five Tenets of Entrepreneurship’. Some aspects on his first tenet suggested items for the questionnaire and for the analysis. Specifically, Neely (2003) posited that entrepreneurial tendencies are influenced by a number of factors Thandi, Sharma (2004), including: Personal values and characteristics – Entrepreneurs tend to be achievement-oriented, enjoy taking responsibility for projects and decisions and hate work involving repetitive tasks. They welcome change, regarding it as a source of opportunity. They are flexible, individualistic and opportunistic.

Childhood environment and role models – A disproportionately large percentage of entrepreneurs have self-employed or entrepreneurial parents (especially fathers). Also, parents who encouraged independence, achievement and responsibility tended to instil the desirability of entrepreneurial pursuits in their children. Apart from parents, siblings, relatives and other entrepreneurs were also important influences, especially where they played a mentoring role during and after the launch of the business.

Education – Entrepreneurs tend to be less educated than the general population, though this is by no means the ‘norm’. Though Neely felt that ‘a formal education is by no means necessary’, education was important for successful entrepreneurship, for it helps entrepreneurs deal with the challenges and obstacles encountered along the way. Age – Entrepreneurial careers were pursued between the ages of 22 and 45. Neely said that the exceptions required ‘a degree of experience, financial backing and sheer energy not often found outside this group’, he adds that there are ‘milestone’ ages – 25, 30, 35, 40 and 45 – at which entrepreneurs are most likely to embark on their first endeavour. Experience – By applying experience and insights from previous ventures to new ones, some entrepreneurs become serial entrepreneurs, launching or buying a number of businesses, thereby honing their entrepreneurial skills. Market knowledge – A working knowledge of the market enables entrepreneurs to ‘hit the ground running’. Work history – Nascent entrepreneurs are very often dissatisfied with paid employment. However, in their own ventures, they use the experience gained in finance, marketing, distribution and product/service development.

Government policy – This can be proactive by providing entrepreneurial supporting activities and funding, as well as encouraging commercialisation of research in universities and government funded laboratories. Jane Guthrie, managing editor of the Kansas City Small Business Monthly, believed that most entrepreneurs shared a number of particular drivers. She cited several ‘drivers that fuel entrepreneurs’, including independence, risk taking, ego, vision, instinct, energy, lure of wealth, initiative, control, challenges, passion and family tradition. Saras D. Sarasvathy (2001), a Business Professor at University of Washington, acknowledged that ‘there is something different about entrepreneurs. They think a

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particular way or there’s something about they way they approach problems’. She set out to discover characteristics, habits, and behaviours that make entrepreneurs tick. For her study, entitled What Makes Entrepreneurs Entrepreneurial, she met with 25 founders of companies with revenues between $200 million and $6.5 billion. She found that entrepreneurs were flexible in their thinking and creative Thandi, Sharma (2004).

Thandi, Sharma (2004) collegial discussions at the Australian Graduate School of Entrepreneurship, Swinburne University of Technology intimated that certain factors either pull or push one towards entrepreneurship. The ‘pull’ factors include management experience, family history of entrepreneurship, prior self-employment, and functional skills such as financed and marketing. ‘Push’ factors include being unemployed. Education and motivation could be either a pull or push factor.

When studying the entrepreneurial characteristics of undergraduate students in a South African University, Louw et al. (1997) found that: Awareness of the importance of entrepreneurship was higher among third year Business Management respondent. Awareness of the importance of entrepreneurship was higher among Business Management. There was a tendency towards risk aversion despite the importance of risk taking in entrepreneurial activities. Gender of respondent did not affect responses. Research by Drnovsek and Glas (2001) at a Slovenian University showed that: Graduate students in Master of Science programme in entrepreneurship, rather than the MBA graduates, were more likely on average to start up a new firm. Graduate students with longer working experience are on average more likely to start up a new firm. Graduate students of entrepreneurship and MBA students do not differ on self-perceived entrepreneurial self-efficacy.

Lankard (1991) made a case that educational institutions’ curricula should include techniques for helping students develop entrepreneurial skills. He hypothesised that vocational education could foster a number of entrepreneurial characteristics such as being action oriented people and believing that working smart and hard is the key to success. He also said that entrepreneurs had a history of being enterprising, earning money through babysitting, paper routes etc. Entrepreneurs also often came from families where one or both parents have owned their business. In order to produce entrepreneurial graduates, Lanyard made some recommendations for curriculum changes in terms of vocational and technical education in the US. He advocated emphasis on business planning, computer applications, managing capital/cash flow, marketing skills and accounting skills; promotion of the involvement of vocational programme instructors in any business management instruction initiatives across all programme areas; and emphasis on opportunities for entrepreneurship education strategies including the special needs of targeted populations and the promotion of vocational equity for all students.

Cho (1998) also maintained that if entrepreneurial talent were innate and could not be built up postnatally, entrepreneurship education would lose its significance and that entrepreneurial talent should therefore not be perceived as innate. Furthermore, Cho’s (1998) study reveals that entrepreneurship education promotes the intention of venture creation because entrepreneurship-related knowledge and skills stimulate an individual’s motivation to create a new venture.

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Several previous studies indicated that intentions, including entrepreneurial intentions, are one of the best predictor of planned behavior. Krueger et al. (2000) Entrepreneurship Mgt. (2006) found that personal and situational variables affect entrepreneurial attitudes and motivation. Role models affect entrepreneurial intentions by changing attitudes and beliefs. Exogenous influences, such as perceptions of resource availability, can change intentions to launch a business. Intentions explain why some entrepreneurs decide to start a business before they scan for opportunities. Krueger et al. (2000) asserted that intentions predict entrepreneurship better than personality traits and situations and that “a strong intention to start a business should result in an eventual attempt, even if immediate circumstances... may dictate a long delay”. They concluded that role models could affect entrepreneurial intentions if they changed attitudes and beliefs about a person’s perceived ability to be successful in a new venture. Krueger (2000) posited that intentions were a function of perceived desirability and feasibility of an act, and asserted that perceptions related to desirability are learned.

Douglas and Shepherd (2001) suggested that risk, need for independence, and income potential are important factors affecting career decisions. Risk and independence are especially important for those intending entrepreneurial careers. They found that income was not a determining factor leading toward the intention to start a business. Goals, motivations, and intentions are intertwined in predicting the entrepreneurial decision. Kuratko, Hornsby, and Naffziger (1997) suggested that individuals starting businesses have personally relevant goal sets to which they aspire. Extrinsic goals that concentrate on wealth and personal income and intrinsic goals, such as recognition, challenge, autonomy, family security, and excitement were important for sustaining entrepreneurship. Entrepreneurship, along with strong intent, is the two basic requirements for successful venture creation. Launching ventures without relevant knowledge is reckless even when there is strong intention for venture creation. Thus, appropriate entrepreneurship education is a precondition for bringing up the right perception and intention about entrepreneurship Lee, Chang, Lim (2005).

Specifically in terms of graduate start-up support, the NCGE report few useful studies within a UK context which “explicitly compare and contrast the types of support used by graduates engaging with entrepreneurial activities” (ISBA Consortium, 2004). There is a lack, they suggest, of comparative studies relating to advice and consultancy, business support, and financial support, for graduate entrepreneurs. An exception is Tackey and Perryman (1999) who suggest, for their research, that graduates rely on a variety of sources for support and business, both within and outside the university and that they value the informal more than the formal. A somewhat similar picture is evident in relation to the wider issue of enterprise education and training. Hannon, Collins and Smith (2005), argue that current supply reveals “confusion about the purposes and impact of entrepreneurship education”, whilst the NCGE acknowledge that entrepreneurship education and training is characterized by ambiguity and uncertainty about what and how enterprise should be taught. Again, exceptions do exist. Henry et al. (2003), on the basis of a rigorous study tracking the progress, post programme, of 35 aspiring entrepreneurs over a three year period, conclude that such programmes can be effective and yield significant benefits for aspiring entrepreneurs. It is the use of control groups and longitudinal designs, they suggest, which ensures a level and quality of evaluation that can offer a real contribution to policy development.

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SIGNIFICANCE OF STUDY

The purpose of this research is to explore and analyze critically the importance of entrepreneurship in the broad context of the market, what are the key factors which affect the decision of fresh graduates to come into this particular field rather than going for a normal salaried job.

Establishment of enterprise in a society is very useful in many different perspectives i.e. it contributes a lot in economy of a country to make it more stable, then it promotes the healthy competition with in the market, last but not the least it helps in you in attaining and retaining the knowledge workers, it might also be helpful to a society in a way that it gives you brilliant minds and big business tycoons like Bill Gates, Thomas J. Watson, Jamshedji Tata, Baldev Das Birla, William (Bill) Hewlett, David (Dave) Packard and Michael Dell etc.

Are entrepreneurs born or are they groomed? Cho (1998) mentioned that if entrepreneurial talent were innate and could not be built up externally or nurtured, entrepreneurship education would lose its significance and that entrepreneurial talent should therefore not be perceived as innate. Furthermore, Cho’s (1998) study reveals that entrepreneurship education promotes the intention of venture creation because entrepreneurship-related knowledge and skills stimulate an individual’s motivation to create a new venture. Lee and Peterson (2000) state that even those individuals who are motivated by such factors as financial rewards, achievement, social, career, and individual fulfilment need a national culture that supports and encourages entrepreneurial activity.

(Lee, Chang et al., 2005) Entrepreneurship, along with strong intent, is the two basic requirements for successful venture creation. Launching ventures without relevant knowledge is reckless even when there is strong intention for venture creation. Thus, appropriate entrepreneurship education is a precondition for bringing up the right perception and intention about entrepreneurship.

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OBJECTIVES OF STUDY

The main purpose of the research is to explore and critically examine in a descriptive and analytical manner the relevance of fresh graduates’ intent on becoming entrepreneurs.

a) To explore, study and analyze critically the factors, philosophy and decision pattern influencing a student when he or she holds graduate degree.

b) To examine and explore the role of the culture, family history, skills, financial implication in the way of deciding his or her career when he or she is entering the job market.

c) To study and examine the impact of fresh Graduates intent on start-up a new venture.

d) To discuss critically the environment forecasted effect of his or her carrier decision.

THEORETICAL FRAMEWORK

After completing a literature survey and defining problem a theoretical framework is developed a theoretical framework is a conceptual model of how one theorizes or makes logical sense of the relationships among the several factors that have been identified as important to the problem. It offers the conceptual foundation to proceed with the research and it is none other than identifying the network of relationships among the variables considered important to the study of any given problem situation. The theoretical framework is the foundation on which the entire research project is based. It is a logically developed, described and elaborated network of associations among the variables deemed relevant to the problem situation and identified through such processes as interviews, observations and literature survey. Experience and intuition also guide in developing the theoretical framework. A good theoretical framework identifies and labels the important variables in the situation that are relevant to the problem defined. It logically describes the interconnections among these variables. The relationships among the independent variables the dependent variables and if applicable the moderating and intervening variables are elaborated.

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VARIABLES

Dependent Variables Independent Variable

HYPOTHESIS

The key question being posed or hypothesis tested in the thesis; in this study we are going to frame the following hypotheses:

H1: It is expected that fresh graduates will have better understanding of the importance of entrepreneurship education.

H2: It is expected that fresh Graduates based on their skills will have positive attitude towards starting-up their own business.

H3: It is expected that role model will have a greater influence on intentions of fresh graduates to start up business venture.

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Knowledge

Attitude

Role Model

EntrepreneurActualization

METHODOLOGY

Population

This is a descriptive, quantitative and hypothesis testing study conducted on the “intent of entrepreneurship in fresh graduates”. A total of 180 respondents were contacted and 151 responses were received. The rate of response was 83.8%. The sample was taken from the Universities of Islamabad such as Islamic International, Iqra University, Comsats.

Measurement

In this study we focused on the actualization of entrepreneurship, including the following facts, Knowledge, Attitude, Role Model. These concepts were measured as follows:

Knowledge: To measure this we referred to (Gartner, 1985) and used five items for our questionnaire. In this scale we used rating options categorized as 5= strongly agree 4= agree 3=neutral 2=disagree 1= strongly disagree. Respondents scored 0.721 alpha on this motive.

Attitude: To measure this we referred to (Ajzen & Madden, 1986) and used five items for our questionnaire. In this scale we used rating options categorized as 5= strongly agree 4= agree 3=neutral 2=disagree 1= strongly disagree. Respondents scored 0.740 alpha on this motive.

Role Model: To measure this we referred to (Scherer et al-Scherer, Adams, and Wiebe, 1989) and used five items for our questionnaire. In this scale we used rating options categorized as 5= strongly agree 4= agree 3=neutral 2=disagree 1= strongly disagree. Respondents scored 0.701 alpha on this motive.

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DATA ANALYSIS

After data collection and coding, the appropriate data analytical techniques including descriptive and multivariate analysis will be carried out keeping in view the objectives of study by using latest available version of SPSS.

MotiveNumber of

Questionnaires Cronbach's Alpha

Knowledge 151 0.721

Attitude 151 0.740

Role Model 151 0.701

According to Nunnally (1979), operationally, reliability is adequate in the early stages of developing a measure if 0.70 or higher is attained.

Test of Reliability of Data

Knowledge-Table

Case Processing Summary

N %Cases Valid 151 100.0

Excluded(a) 0 .0

Total 151 100.0

A List wise deletion based on all variables in the procedure.

Reliability Statistics

Cronbach's Alpha N of Items

.721 5

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T-Test Table

One-Sample Statistics

N Mean Std. DeviationStd. Error

MeanK1 151 4.2185 .86328 .07025K2 151 4.1457 .83584 .06802K3 151 4.0927 .81936 .06668K4 151 3.7086 1.17524 .09564K5 151 4.1854 .83589 .06802

One-Sample Test

Test Value = 0

t df Sig. (2-tailed)Mean

Difference

95% Confidence Interval of the Difference

Lower UpperK1 60.048 150 .000 4.21854 4.0797 4.3574K2 60.948 150 .000 4.14570 4.0113 4.2801K3 61.380 150 .000 4.09272 3.9610 4.2245K4 38.777 150 .000 3.70861 3.5196 3.8976K5 61.529 150 .000 4.18543 4.0510 4.3198

Knowledge-Bar Charts

Strongly AgreedAgreedNeither agree nor disagree

DisagreeStrongle Disagree

K1

50

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Attitude-Table



Excluded(a) 0 .0

Total 151 100.0




.740 5

T-Test



MeanA1 151 4.0199 1.06752 .08687A2 151 3.9073 1.23478 .10048A3 151 3.3179 1.10978 .09031A4 151 3.3907 1.09528 .08913A5 151 3.3377 1.05127 .08555

One-Sample Test

Test Value = 0


Difference


Lower UpperA1 46.273 150 .000 4.01987 3.8482 4.1915A2 38.884 150 .000 3.90728 3.7087 4.1058A3 36.738 150 .000 3.31788 3.1394 3.4963A4 38.041 150 .000 3.39073 3.2146 3.5668A5 39.015 150 .000 3.33775 3.1687 3.5068

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Attitude Bar-Charts



A1

50

40

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A1



A2

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A3

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A5

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Role-Model Table



Excluded(a) 0 .0

Total 151 100.0




.701 5

T-Test



MeanR1 151 3.6887 1.02102 .08309R2 151 4.0265 .73889 .06013R3 151 3.9272 .88769 .07224R4 151 3.7351 .92161 .07500R5 151 3.8543 .88240 .07181

One-Sample Test

Test Value = 0


Difference


Lower UpperR1 44.395 150 .000 3.68874 3.5246 3.8529R2 66.963 150 .000 4.02649 3.9077 4.1453R3 54.363 150 .000 3.92715 3.7844 4.0699R4 49.802 150 .000 3.73510 3.5869 3.8833R5 53.675 150 .000 3.85430 3.7124 3.9962

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Role Model Bar-Chart



R1

40

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R1



R2

60

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Perc

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R2

24



R3

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R4

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Discussion

The present study is based on theoretical framework on Intent of entrepreneurship in fresh graduates. It drew 151 content analyzed with intent of entrepreneurship of fresh graduates with 3 variables.These were Knowledge, Attitude, Role-model. All variables have been compared with one another with each of the respondent.

H1: In present study our hypothesis on Knowledge was conformed and knowledge was established to be a strong factor in venture Creation. The mean in table 1 shows that graduates agreed that knowledge contributes towards venture creation. Respondents scored 0.721 alpha on this motive.

H2: In present study our hypothesis on Attitude was conformed and attitude was established to be a strong factor in venture Creation. The mean in table 2 shows that graduates agreed that attitude contributes towards venture creation. Respondents scored 0.740 alpha on this motive.

H3: In present study our hypothesis on Role-model was conformed and role-model was established to be a strong factor towards venture Creation. The mean in table 3 shows that graduates agreed that role model contributes towards venture creation. Respondents scored 0.701 alpha on this motive.

CONCLUSION

After applying T-test we reached to the following conclusion that our first hypothesis on knowledge was confirmed and that knowledge was established to be a strong factor contributing towards venture creation. The mean in table 1 shows that graduates agreed that knowledge contributes towards venture creation.Our second hypothesis on Attitude was confirmed and it was established to be a vital factor in starting up own business. The mean in table 2 shows that graduates agreed that attitude contributes towards venture creation.Our third hypothesis on Role-model was confirmed and it was established to be a strong factor in venture creation. The mean in table 3 shows that graduates agreed that role model contributes towards venture creation.

At the end on the bases of this research we can say that there is a relationship between Entrepreneurial actualization and Knowledge, Attitude, Role-model.In the light of this study we can say that Knowledge, Attitude, Role-model have positive perception and relation towards Entrepreneurial actualization.

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Reference

Drnovsek, M. & Glas, M. (2001).Entrepreneurial Intentions of Nascent Entrepreneurs: A Case of Students in Entrepreneurship and MBA Programs, a paper pr Conference Internationalising Entrepreneurship Education and Training, Krueger Park, South Africa.

Maki, K. (1999).Motivation for Entrepreneurship Among Academics. Small Business Institute, Business Research and Development Centre, Turku School of Economics and Business Administration. Turku, Finland See http://www.sbaer.uca.edu/Research/1999/ICSB/99ics078.htm

Saraswathy, S.D. (2001).What Makes Entrepreneurs Entrepreneurial? Seattle WA, USA:University of Washington School of Business.

Thandi, H. & Sharma, R. (2002).MBA Students Perceptions of Entrepreneurial Skills: An Australian Study of Intentions and Opportunities for Actualisation. Selected Papers for the 2002 SEAAIR Forum, Kuala Lumpur, Malaysia, October. See also: http://www.seaair.info/pdf/abstract.pdf

Autio, E., Keeley, R., Klofsten, M., Parker, G. and Hay, M. (2001), “Entrepreneurial intent among students in Scandinavia and in the USA”, Enterprise and Innovation Management Studies, Vol. 2 No. 2, pp. 145-60

Hisrich, R., Michael, P., & Shepherd, D. (2005).Entrepreneurship (6th ed.), Boston, MA.

Krueger, N. (2000).The cognitive infrastructure of opportunity emergence. Entrepreneurship Theory and Practice, 24(3), 5–24.

Krueger, N., & Brazeal, D. (1994).Entrepreneurship potential and potential entrepreneurs. Entrepreneurship Theory and Practice, 19(3), 91–104.

Krueger, N., Reilly, M., & Carsrud, A. (2000).Competing models of entrepreneurial intentions. Journal of Business Venturing, 15, 411–432.

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Kuratko D., & Hodgetts, R. (2004).Entrepreneurship (6th ed.). Mason, Ohio: Thompson Southwestern.

Kuratko, D., Hornsby, J., & Naffziger, D. (1997).An examination of owner’s goals in sustaining entrepreneurship. Journal of Small Business Management, 35(1), 24–33.

Hisrich, R., Michael, P., & Shepherd, D. (2005).Entrepreneurship (6th ed.), Boston, MA.

Krueger, N. (2000).The cognitive infrastructure of opportunity emergence. Entrepreneurship Theory and Practice, 24(3), 5–24.

Krueger, N., & Brazeal, D. (1994).Entrepreneurship potential and potential entrepreneurs. Entrepreneurship Theory and Practice, 19(3), 91–104.

Krueger, N., Reilly, M., & Carsrud, A. (2000).Competing models of entrepreneurial intentions. Journal of Business Venturing, 15, 411–432.

Kuratko D., & Hodgetts, R. (2004).Entrepreneurship (6th ed.). Mason, Ohio: Thompson Southwestern.

Kuratko, D., Hornsby, J., & Naffziger, D. (1997).An examination of owner’s goals in sustaining entrepreneurship. Journal of Small Business Management, 35(1), 24–33.

Drucker, P. F. 1985. Innovation and entrepreneurship. New York: Haper & Row.

Gartner, W.B. 1985. A conceptual framework for describing the phenomenon of new venture creation. Academy of Management Review, 10: 696–706.

Lee, S.M. & Peterson, S. 2000. Culture, entrepreneurial orientation, and global competitiveness. Journal ofWorld Business, 35: 401–416.

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APPENDIX

“Questionnaire”

Z1) Would you please let us know which age bracket you fall in? 1) 20-25 years

2) 26-30 years 3) 31-35 years.

4) 36-40 years.

Z2) Gender 1) Male 2) Female

Z3) What is the highest level of your education? 1) Intermediate.2) Bachelor. 3) Masters.4) M. Phil.5) PHD.

Z4) What is your discipline of study? 1) Business Management 2) Social Sciences3) Engineering.4) Medicine.

K1) Do you agree that Education promotes the intention of venturecreation?

(1) Strongly disagree (2) Disagree (3) Neither agree nor disagree

(4)Agreed (5) Strongly agreed.

K2) Do you agree that knowledge stimulate an individual’s motivation to create a new venture?

(1) Strongly disagree (2) Disagree (3) Neither agree nor disagree

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K3) Do you think that entrepreneurship education plays an effective role

on venture creation?(1) Strongly disagree (2) Disagree (3) Neither agree nor disagree


K4) Does your University play a role to foster entrepreneurial initiative

among its students?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree

(4)Agreed (5) Strongly agreed

K5) Do you think that availability of information is impediment that needs to be addressed?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


A1) Do you think that attitude plays an important role in becoming self-

employed.(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


A2) Do you agree that Confidence has an impact on successful venture

creation?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


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A3) Would you give preference to venture creation over getting a Job?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


A4) Do you agree that Graduates have attitude towards venture creation before Graduation?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


A5) Do you agree that Graduates have an attitude towards venture creation to overcome failure?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


R1) Do you agree that graduates who are encouraged to join family business have positive intentions towards venture creation?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


R2) Do you agree that graduates who are taught how to manage business have better intentions towards Venture creation?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


R3) Do you agree that Graduates who are told about the advantages and disadvantages of business by role models will carry better intentions towards Venture creation?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


R4) Do you think Graduates who are discussed family business will have better intentions towards Venture creation?

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(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


R5) Do you agree that assumption of following family business will have impact on graduates intentions towards Venture creation?(1)Strongly disagree (2) Disagree (3) Neither agree nor disagree


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H1) It is expected that fresh graduates will have better understanding of the importance of entrepreneurship education.



H2) It is expected that fresh Graduates based on their skills will have positive attitude towards starting-up their own business.



H3) It is expected that role model will have a greater influence on intentions of fresh graduates to start up business venture.



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199232623 Business Research Project

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Transcript of 199232623 Business Research Project