2.0 Introduction
This chapter of literature review will be study on the self-employment intention and risk entrepreneurial among the student undergraduate faculty economic and business. Besides, factor self-employment intention, benefit of entrepreneurial, challenge in entrepreneurship and entrepreneurial behavior will discuss in this chapter. In addition, attitude, subject norms, perceived behavioral control and risk entrepreneurship that influenced self-employment intention will be discuss.
2.1 Entrepreneurship or self-employment
Entrepreneurship can defined as a process of innovation and creation through the four dimensions of individual, organization, environment and process in collaboration with the government, education and the institution (Kuratko & Hodgetts, 2004). From this statement its show the individual that become entrepreneurial have a process of innovation and also education in business also influenced attitude individual to choose self-employed as a career. According to Sexton and Landstrom (2000), entrepreneur is individual that care about all the aspect that include in business which include such as individual, innovation, commercial orientation and business behavior. According to Ahn (2009) individual who work in their business that give them reward such as profit will known as self-employed.
.
2.1.1 Perception
Perception desirability according to Shapero and Sokol (1982) perception is the factor of social and culture that will express by individual through the process of forming individuals’ value. For example, if there have an value of the challenge and anticipation, tehn their will look like congurent professional lifestlye that give them a satisfation on their needs of the challenge and anticipation ...
... middle of paper ...
...viour (Ajzen, 1991) is another intention model and has been used for its predictive power and applicability across a variety of content domains including entrepreneurship. This research attempts to explore how behavior such as belief, attitudes and intention relationship inform person intention to become self-employed and faced with the risk of entrepreneurship. The model shows the attitudes towards the behavioral, subjective norms and perceived behavioral control will make an intention to person perceived behavioral to become a self-employed. Intention is affected by behavioral of individual to choosing self-employed as a career option. These relations are based on review of the literature that tends to support this conceptual model. In order to clearly explain the theoretical model, the Conceptual Framework which indicates the related variable are show in below:
The characteristics discussed in the article is important to possess in order to be entrepreneurial.
There has been a large amount of attention paid to the subject of entrepreneurship in the last few years; mainly because most people have chosen to go from working for somebody else, to be their own bosses and work for their dreams. Nevertheless, many still wonder what is entrepreneurship and what is that sets entrepreneurs apart from other regular business owners. At first, it seems both concepts do not differ much from each other since they both start up and run businesses and assume risks to pursue opportunities; however, there are certain traits that difference them.
In the United States, approximately one in eight adults are self-employed. In their minds exists a one common dream. This is the entrepreneurial dream of self-employment. It is the freedom to start, grow, and cash in a new business. Most of the extravagant millionaires of today build up their wealth in this way. An entrepreneur is someone who has the ability to build and develop his own business. In today's fast paced world of business, many people chose to work for themselves. A career as an entrepreneur is a risky, yet personally rewarding endeavor.
Studies show that both educational and structural support factors influence the entrepreneurial intention of students however that alone does not guarantee success. College degrees in business majors and training programs possibly may not transcend genes and its history component and it is possible that education in itself presents to a degree to which the discipline of entrepreneurship is learnt. One must therefore have an “entrepreneurship personality” (Drucker 1985).
Entrepreneurship incorporates unconstrained imagination and a readiness to settle on choices without strong information. The entrepreneur may be driven by a need to make something new or assemble something unmistakable. As new ventures have low achievement rates, the business person should have impressive tirelessness. Because of this, the entrepreneur may have the best risk of achievement by concentrating on a business sector corner either too little or too new to have been commanded by built up organizations.
Entrepreneurship - a special kind of activity. Its constant conditions are limited resources, competition and uncertainty of the situation. The main tools of the entrepreneur are: thrift, cooperation and innovation. Consequently, enterprise is the independent economic entity, with rights of a legal entity, which is based on the use of labor collective property produces and sells products, works, and provides services.
To increase the number of the people to become entrepreneurs especially the Bumiputra(native people), the government has launched many schemes and mechanism to increase their numbers. Education institution has been use as one of the mechanism to promote entrepreneurship to the student in middle and tertiary education. The creations of entrepreneurs are important because they have been proven to contribute to economy wealth and job creation (Turker and Selcuk, 2008). In 1999, Audretsh and Thurik conducted research on past data from 1984 to 1994 regarding the relationship between entrepreneur and job creation issue. The result showed that there is a positive relationship between the two where the number of job rate increases when the number of entrepreneurs increased. In Malaysia entrepreneurship course was started to be introduced in some universities in mid 90’s (Cheng et al.d, 2010). Then in 2007, Ministry of Higher Education made a policy that entrepreneurship course became a compulsory subject to all students in the universities irrespective of whatever faculties ,to encouraged more development of entrepreneurs from the university(Ministry of High Education Malaysia, report 2010). With this policy, universities have become the center to foster entrepreneurship. However unlike the situation in the west, here in Malaysia the situation is different where the number of people who actually become entrepreneur is small compared to the number of people who have taken the course. This is totally difference in other countries. In the United States, for instance, many of the graduates form companies after and during their universities. In the west the impact of the entrepreneurship education have been well known as mention by Ayers (2004) where the “graduates from Massachuset Institute of Technology have created more than 4000 companies”. In Harvard more than 50% of the students have involved in venture business (Anjan,2005). Similar effect also had happen in early research in Europe (Harhoff, 1999) .All these situations indicate that entrepreneurship can be taught through education.
This research focuses on the particular part which is student self-employed intention towards on business and the risk of business in Malaysia. The selected respondents are student faculty of economic and business at UNIMAS. Researcher chooses these respondents because researcher wants to investigate how many students would like to build their own business. In addition, researcher chooses students UNIMAS because it make easily to collect data also can identify how much student from faculty economic and business choose self-employed as career after graduated.
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.
Entrepreneurship is a type of business development and ownership that focuses on innovation, an innovative product or service, an innovative production process, innovative marketing strategies, or an aggressive approach to business. Entrepreneurs are networkers and risk takers. They are different from a regular traditional business manager or owner who operates in a more formal management hierarchy with more clearly defined authority and responsibility. Traditional regular business management may not be overly aggressive and are concerned about minimizing risk. (Stevenson 2008)
Entrepreneurs forever ought to begin any business by themselves if they one thing got to be done. They create the bounds and become dedicated towards achieving their goals, vision, mission and objectives. Businessmen are headworker, creative, positive minded and opportunities taker further. They are doing not anticipating someone to grant them permission.
The emergence of entrepreneurs in a society depends to a great extent on the economic, social, religious, cultural and psychological factor prevailing in the society.
Studies have found that there is a deep link between Entrepreneurship and Need of Achievement. According to Begley and Boyd (1987), those who have founded their own companies had a higher need for achievement than non-founders or owner managers. Also, (Stewart et al., 1998) responded that need for achievement is higher in entrepreneurs than the corporate manager and owner managers. Need for Achievement is usually high in entrepreneurs than the general population. It provides them with motivation to go ahead and achieve their next target easily. Entrepreneurs showing this tendency usually are good planners, sets their goals, always look for information and learning (Miner, 2000). They accept success and failure of their work and this need of achievement help them to overcome failure, obstacles and setbacks.
Entrepreneurs’ are people who risk everything they have like money, time, and effort in order to develop an innovative product or way or doing something for profit. Entrepreneurs’ usually start off with a small business and if they become successful they will grow. When someone creates and manages a business to achieve desired objectives this is entrepreneurship. (pg. 97). Many people starting their own business seem to fail and are unsure what they are doing wrong. There are four main steps that can be taken to become a young, up and coming, professional entrepreneur.