Entrepreneurial Passion Psychology- Based Influencing Factors of New Venture Performance.

Shouzheng Zhao,Hai Guan,Wenhai Xu,Yuqin Zhou

doi:10.3389/fpsyg.2021.696963

Shouzheng Zhao, Hai Guan + Show 2 more

Open Access

https://doi.org/10.3389/fpsyg.2021.696963

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Abstract

Small and medium-sized enterprises have been the driving force of social economy. As the social formation and the rise of many emerging economies, the domestic economic environment changes dramatically, which makes small and medium-sized enterprises face severe challenges. In the face of the fierce competition environment, how to improve the performance of entrepreneurship and gain competitive advantage is a very important topic in the practical management of entrepreneurs. This exploration is carried out with the entrepreneurial passion and risk taking as the antecedent variable, entrepreneurial performance as the outcome variable, and then work engagement as the mediator. With the entrepreneurs of small and medium-sized enterprises as the research object, questionnaire method is used to carry out empirical research. The empirical analysis results show that entrepreneurial passion has a significant positive impact on work engagement; risk taking has a significant positive impact on work engagement; work engagement has a significant positive impact on entrepreneurship performance; in addition, work participation plays a mediating role in the process of entrepreneurial passion and risk taking. The results provide academic and practical implications for entrepreneurs.

Highlights

In recent years, governments all over the world encourage entrepreneurship
Small and medium-sized enterprises are very important for the improvement of economic level, which is conducive to the further development of the national economy
Schenkel et al believed that entrepreneurship is the embodiment of passion, and entrepreneurial passion is a positive emotion with creativity and sustainability (Schenkel et al, 2019)

Summary

Introduction

Entrepreneurship research has become a fast-growing and increasingly important research in global enterprise research. In the social formation and the rise of many emerging economies, the domestic economic environment changes dramatically, which makes small and medium-sized enterprises face severe challenges. In the face of fierce competition, how to maintain entrepreneurial performance and occupy a place in the market is a very important management topic for entrepreneurs in practical operation (Wadhwani et al, 2020). Small and medium-sized enterprises are very important for the improvement of economic level, which is conducive to the further development of the national economy. The survey results suggest that with the change of market environment, the proportion of small and medium-sized enterprises in the whole economic system has gradually increased. By 2020, they have contributed nearly 70% of GDP (Bhatt et al, 2019)

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