Abstract
This study evidences that psychological construct in terms of narcissistic behavior through an excessive use of social media will not boost entrepreneurs to learn from past failure experiences in business. By considering excessive narcissism through social media as a personality disorder, this study examines it as a possible cause of entrepreneurial failure. The study uses data from two sets of questionnaire with one hundred and fifty failed entrepreneurs. Analysis is quantitatively undertaken with Structural Equation Modelling/SEM and is supported by the result of Narcissistic Personality Inventory-16/NPI-16 questionnaire which reflects the degree of respondents’ narcissistic behavior. The study infers that the greater narcissistic behavior entrepreneurs has, even with the presence of entrepreneurial learning from the past failures, may lead entrepreneurs to experience subsequent failure. Stubbornness and hypocrisy are two reasons behind this. Therefore, entrepreneurs should be aware of their negative character-personality and psychological aspects when performing entrepreneurial processes.
Highlights
Failure is a crucial but traumatic event that should be faced by entrepreneurs during entrepreneurial development process and entrepreneurial journey
We have found the r-square of both variables entrepreneurial failure and entrepreneurial learning from failure, which indicate that narcissism can explain entrepreneurial learning from failure 31.5% while entrepreneurial failure can only be explained 8.2% by both narcissism and entrepreneurial learning from failure
In this circumstance, we consider, and further believe that demographic characteristics of individuals, excessive use of social media, and much easier access to use social media platforms by entrepreneurs have positively contributed to the creation of a greater feeling and sense of narcissism inside individual entrepreneurs which have further impacted to the denial and rejection to learn from the past failure
Summary
Failure is a crucial but traumatic event that should be faced by entrepreneurs during entrepreneurial development process and entrepreneurial journey. A narcist individual can be identified by their habit to interpersonally exploit others to achieve own interests, having lacks of empathy, often envious of others and show arrogant and haughty behaviour Related to this and as a personality characteristic, narcissism has both cognitive and motivational elements (Chatterjee & Hambrick, 2007). The reason is clear; highly narcissistic individuals believe that they have superior qualities over others (Morf & Rhodewalt, 2001) and this belief will create an automatic psychological construction to deny every negative performance of activities as the result of their downside Another point that should need to consider is the fact that the narcissist individuals are usually absorbed by their inner world and by their own sense of correctness (Chatterjee & Hambrick, 2007). The opinions (Morf & Rhodewalt, 2001; Campbell et al, 2004; Chatterjee & Hambrick, 2007) are further used as the basis for our understanding in formulating the third hypotheses of the study, which says: H3 : There is a significant influence of narcissism on entrepreneurial failure
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