Role of Technological Knowledge and Entrepreneurial Orientation on Entrepreneurial Success: A Mediating Role of Psychological Capital

Abstract

This study pursues to build the conceptual model of entrepreneurial success (ES) that discusses the concept and phenomenon of ES and its perquisites and outcomes. This proposed mode anticipated that factors technological knowledge (TK), entrepreneurial orientation (EO), and psychological knowledge influence ES. This paper explains previous literature on perquisites, the phenomenon of TK, EO and psychological knowledge, and ES. This conceptual paper targets the scholarly works that provide support for the proposed model. A significant contribution of this paper is to propose an original relationship between prerequisites, phenomena, and consequences in ES. The proposed model shows a novel conceptualization of how these constructs may be connected to affect ES outcomes. This study enhances the literature by providing the theoretical literature of forerunners and outcomes for ES. In addition, this study has important implications for practitioners and entrepreneurs to generate success in entrepreneurial activities. Based on new insights, this study also developed and suggested new approaches and opportunities for future research.

Unpacking the optimistic mindset of business students towards entrepreneurship

“…This relationship is widely discussed in earlier research [ 7 , 18 ], but it was not discussed in the context of Chinese students. Ardelean [ 10 ] demonstrated that the significant influence of business performance is reasonable when the entrepreneurs working in the target market have a positive attitude and working behaviour. Similarly, Aderibigbe [ 26 ] concluded that the influence of business performance on sustainable business development is possible when the management has psychological capital traits to manage the business.…”

“…People with strong psychological capital (stress control, emotional intelligence, and a strong mind) can perform better in any situation [ 18 , 40 , 41 ]. Psychological capital in business is critical as it facilitates learning and allows for tough decisions even in critical situations [ 10 ]. Psychologically strong entrepreneurs are bold in their decision-making and avoid stereotypes about their business performance [ 42 ].…”

“…Lai, Hsieh [ 42 ] demonstrated that the entrepreneurial intention of college students can be modified when they have psychological capital and the psychological intention to perform the business. Ardelean [ 10 ] demonstrated that the risk-taking ability of entrepreneurs is influenced by their positive entrepreneurial intention, which is critically important for business performance in an attractive way. As Liao and Cheng [ 7 ] concluded, the psychological capital of entrepreneurs strongly influences the positioning of their businesses in the market.…”

“…Entrepreneurial networking has become necessary as the students at Harvard University are networking and getting entrepreneurial support for their business development [ 10 ]. Pathak and Joshi [ 11 ] reported that entrepreneurial networking is a successful way to understand the market and develop relationships in the market for business success.…”

The impact of entrepreneurial orientation on firm performance: Exploring the moderating influence of trust and organizational commitment in the Indian IT/ITE sector

“…Perhaps a better grasp of entrepreneurship, its benefits, and processes will encourage firms to expand their entrepreneurial efforts, leading to eventual commercial success. Future academics will therefore need to examine the crucial success variables influencing firm success (Ardelean, B. O. 2021).…”