Assessing the Roles of Entrepreneur's Psychology and Competencies: The Critical Analysis Factors of Emergence E-Commerce New Ventures in Malaysia

Abstract

The leading agent of entrepreneurship is an entrepreneur who is accountable for the creation of a new venture. A plethora of research is conducted on entrepreneurial cognitive, personality traits, and motivation that creates new ventures creation, but the previous researcher ignores e-commerce. The previous researchers paid the least concern for entrepreneurial skills that contribute to new venture developments in e-commerce. The purpose of this study is to see the role of entrepreneurs' psychology and competencies towards the emergence of e-commerce ventures in Malaysia. Twelve entrepreneurs were interviewed by using the case study method from May 2013 to December 2014. The study resulted that personal background, work, and business skills are essential in establishing new e-commerce ventures in Malaysia. Seven factors of personalities such as creativity, risk-taking, inspiration, need for autonomy and freedom, tolerance of ambiguity, hardworking and persistence, and optimism are vital aspects of developing an e-commerce new venture in Malaysia. The motivation of the study has two types of internal and external motivation. Internal motivation includes (a) the need for achievement, (b) interest. In contrast, external motivation resulting from interactions with conducive environments such as consumers, members of the family, and industries increased the entrepreneurs' motivation impacting business success.