Examining the Elements Impacting the Entrepreneurial Intention

Social Science (School of Psychology)

The growth of the market economy, global rivalry, and technical advancement, has all contributed to the importance of entrepreneurship. As a result, it has inspired academics to conduct research into its precursors. Entrepreneurship used to be a method by which individuals started their own business enterprise with their own money. This view of entrepreneurship has indeed shifted, though. Why do some people, but not others, favour starting their own business? Since the essential predictor of entrepreneurial activity and a critical aspect in understanding the process of launching new businesses, this topic prompted us to look at the elements that spark EI. Many elements, such as, environmental, psychological, demographic and cognitive ones, can stimulate an individual’s desire to initiate a venture. The internal-psychological and external-environmental elements were the main topics of research in the past, but lately, factors related to cognition have also become more significant. The purpose of the current study is to investigate the association between EI, inclination towards risk-taking, self-efficacy of entrepreneurs, and emotional intelligence. Also, the study took into account personal attitude as a cognitive element. PA is one among the various motivation precursors in the Theory of Planned Behavior Ajzen's (1991). This makes it possible to comprehend the causes of EI better. A sample of aspiring entrepreneurs is only rarely included in studies on EI; the majority of the study participants are students coming from college. Conversely, by examining the replies of genuine entrepreneurs rather than students, this work seeks to develop a more precise understanding of the characteristics that contribute to entrepreneurial ambition.

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