Effects of entrepreneurial quality towards new venture creation: A multiple case study of successful new ventures in e-commerce in Malaysia
DOI:
https://doi.org/10.24200/jonus.vol8iss1pp184-225Abstract
Background and Purpose: Over the past three decades, research on entrepreneurship has garnered significant attention, primarily focusing on new venture creation and the processes underpinning quality entrepreneurial growth. However, studies have largely overlooked e-commerce ventures as a critical aspect of the psychology of entrepreneurship. Entrepreneurs, as central figures in this domain, play a pivotal role in establishing new ventures, driven by specific personality traits, cognition, and motivation. This study aims to explore the impact of these factors on the creation of e-commerce ventures in Malaysia.
Methodology: This qualitative study employed a multiple case study approach, with data collected through interviews conducted with 12 e-commerce entrepreneurs between May 2013 and December 2014.
Findings: The findings revealed that seven key personality traits—creativity, risk-taking, inspiration, autonomy, tolerance for ambiguity, diligence and persistence, and optimism—significantly influence the creation of e-commerce ventures. Cognitive factors, including personal background and experiences, alongside both internal and external motivational drivers, were also instrumental in fostering entrepreneurial ventures and business development. Internal motivation stemmed from the need for achievement and personal interest, while external motivation was bolstered through interactions and networking with family members, customers, and industry players.
Contributions: This study highlights the importance of recognizing personality traits, cognitive factors, and motivational drivers in promoting entrepreneurial activities in Malaysia. It is recommended that the Malaysian government foster entrepreneurship by identifying and supporting individuals with these qualities to enhance the creation of new ventures, thereby contributing to the country's economic growth. Future research should consider quantitative methods to examine the relationships between these variables and new venture creation in e-commerce.
Keywords: Entrepreneurship, new venture creation, E-commerce, psychology, sociology.
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