Need for achievement, business goals, and entrepreneurial persistence

Abstract

Purpose -The purpose of the study is to employ the need theory to investigate whether a need for achievement has an effect on persistence behavior among entrepreneurs, and whether a need for achievement and business goals interact to influence such persistence. Design/methodology/approach -A longitudinal study of nascent entrepreneurs was conducted by a field survey in a metropolitan area of a mid-western state in the USA. Logistic regression was used to test the hypotheses. Findings -Need for achievement is found to be positively related to entrepreneurial persistence. Business goals are found to moderate the relationship between need for achievement and persistence.Research limitations/implications -The time span between the two waves of data collection in the longitudinal study might have been too short.Practical implications -This study highlights the importance of matching need for achievement and business goals. For complex tasks, a strong need for achievement should be accompanied with moderate business goals if persistence is to occur. Venture capitalists and government agencies can improve entrepreneurial success by keeping a close eye on the match. Originality/value -Few studies have explored the issue of entrepreneurial persistence. The present study contributes to a better understanding of motivation and other variables that influence entrepreneurial persistence.

Entrepreneurs’ optimism, cognitive style and persistence

“…Therefore, it is necessary to better understand "how and why entrepreneurs persist". A major concern of entrepreneurship scholars is to understand and predict how and why entrepreneurs persist despite difficult and numerous obstacles occur along the way (Markman et al, 2005;Wu et al, 2007). This study specifically focuses on its antecedents by examining the role of cognitive style dimensions in boosting the effect of optimism on persistence.…”

“…Persistence is a crucial element in entrepreneurship because the process of founding and growing a venture is full of uncertainties (Burke and Miller, 1999), and entrepreneurs encounter several constraints along the way (Cardon and Kirk, 2015;Holland and Shepherd, 2013;Markman, et al, 2005;Shane, et al, 2003;Wu, et al, 2007). Prior research suggests that these obstacles create self-doubt and cognitive constraints, or a difficulty in perceiving, processing and selecting the information needed to make the decisions that facilitates the achievement of an entrepreneur's goals (e.g., Busenitz, 1999;Gatewood, et al, 2002;Gimeno, et al, 1997;Haines and Townsend, 2013).…”

“…Second, despite broad endorsement of persistence in entrepreneurship research (e.g., Cardon and Kirk, 2013;Shane, et al, 2003;Markman, et al, 2005, Timmons andSpinelli, 2009;Wu, et al, 2007), it remains an unanswered question regarding the drivers of persistence in developing economies. Most economies in sub-Saharan Africa have been noted with several constraints to entrepreneurship (Robson and Obeng, 2008;World Bank, 2014).…”

Exogenous determinants of entrepreneurial intuition and the mediatory role of psychological capital among potential youth entrepreneurs

“…Creed, Fallon and Hood's (2009) study demonstrated that the career adaptability variables were inter-related and predicted entrepreneurial success. Wu, Matthews and Dagher (2007) investigated whether need for achievement has an effect on persistence behavior among nascent entrepreneurs. Their results found that Nach positively influenced entrepreneurial persistence.…”

The effect of entrepreneurial personality traits of undergraduates in the area of education of physical education and sports on the entrepreneurship tendency

“…When a new business is started, uncertainty has a large effect on the individuals. When entrepreneurs face uncertainty and difficulties, they have to be insistent in their efforts (Wu, Matthews, & Dagher, 2007).…”