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Managing success factors in entrepreneurial ventures: a behavioral approach

Syed Awais Ahmad Tipu (Department of Management, College of Business, The University of Sharjah, Sharjah, United Arab Emirates)
Faisal Manzoor Arain (School of Construction, Southern Alberta Institute of Technology (SAIT), Calgary, Canada)

International Journal of Entrepreneurial Behavior & Research

ISSN: 1355-2554

Article publication date: 16 August 2011

Abstract

Purpose

The purpose of this paper is to explore the links between entrepreneurial behavior and success factors in a developing country context.

Design/methodology/approach

A case study approach was selected to analyze real‐life situations in order to gain an insight about entrepreneurial cognition and action related to success factors. Drawing from the behavioral theory of entrepreneurship, this paper presents a conceptual model which shows that entrepreneurial cognitions about success factors may lead toward entrepreneurial actions. The data were collected through face‐to‐face interviews. Three entrepreneurs were asked to outline responses to identified success factors such as start‐up planning, managing risk, learning, networking, managing human resource, and managing finances.

Findings

The results suggest that many behavioral patterns exhibited by the case study entrepreneurs were similar to entrepreneurs' behavior in more developed regions. The similarities include: preparation of business plan, ability cognition for start‐up planning, overconfidence and representativeness heuristics for managing risk, obtaining professional outsider assistance for learning, developing business relationships with suppliers for networking and favorable credit policies, and employing owner‐related and delaying‐payment methods of bootstrapping for managing finances.

Originality/value

For the first time in Pakistan this study explores entrepreneurial cognition and action in managing success factors. The findings of the research will potentially help practitioners and policy makers in nurturing entrepreneurial initiatives in a developing country context.

Keywords

Citation

Awais Ahmad Tipu, S. and Manzoor Arain, F. (2011), "Managing success factors in entrepreneurial ventures: a behavioral approach", International Journal of Entrepreneurial Behavior & Research, Vol. 17 No. 5, pp. 534-560. https://doi.org/10.1108/13552551111158844

Publisher

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Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited