Concept of Entrepreneurial Mindset Development
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Published:
Dec 6, 2020
Keywords:
entrepreneurship, mindset, psychology, self-development, business
Main Article Content
Abstract
Entrepreneurship is one of people characteristics of people that every organization needs. The meaning of entrepreneurship is wider than business owners because entrepreneurs mean to any person who manages various resources to help the organization. Consideration of the Entrepreneurship thought process, it has been found some of the unique characteristics are those that are presented in the form of an entrepreneurial mindset model. The model had seven elements: goal identification, opportunity recognition, risk management, resource allocation and assessment, innovation and creativity, leadership, and optimism. These seven traits cannot come on their own, but they have to be practiced by creating the right habits for a while until those who want to improve themselves can have an entrepreneurial mindset. The entrepreneurial mindset is fundamental to human capital development as an internal drive for strengthening the core competencies to be successful in entrepreneurship. In the design of human capital development, therefore, either in the form of self-development or various institutions. Both in the public and private sectors, development must begin with the framework of this presented model as a basis before building skills and knowledge to become a successful entrepreneur. Due to the development of human capital requires effort, determination, determination, and timing, without internal forces, the chances of success become more difficult.
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Research Articles
บทความที่ปรากฏในวารสารนี้ เป็นความรับผิดชอบของผู้เขียน ซึ่งสมาคมนักวิจัยไม่จำเป็นต้องเห็นด้วยเสมอไป การนำเสนอผลงานวิจัยและบทความในวารสารนี้ไปเผยแพร่สามารถกระทำได้ โดยระบุแหล่งอ้างอิงจาก "วารสารสมาคมนักวิจัย"
References
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Berglund, H. (2007). Opportunities as Existing and Created: A Study of Entrepreneurs in the Swedish Mobile Internet Industry. Journal of Enterprising Culture, 15(3), 243-273. doi:10.1142/S0218495807000149
Bocken, N., Short, S. W., Rana, P., & Evans, S. (2014, February 15). A literature and practice review to develop sustainable business model archetypes. Journal of Cleaner Production, 65, 42-56. doi:10.1016/j.jclepro.2013.11.039
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Cardon, M. S., Wincent, J., Singh, J., & Drnovsek, M. (2009). The nature and experience of entrepreneurial passion. Academy of Management Review, 34(3), 511-532. doi:10.5465/amr.2009.40633190
Chupp, B. K., Longenecker, C. O., & Ariss, S. (2013). The Mind of the Entrepreneur: How Successful Entrepreneurs Learn. Effective Executive, 16(1), 7-15.
Coelho, M. (2010). Unrealistic Optimism: Still a Neglected Trait. Journal of Business and Psychology, 25(3), 397-408. doi:10.1007/s10869-009-9146-9
Csikszentmihalyi, M., & Csikzentmihaly, M. (1990). Flow: The psychology of optimal experience. New York: Harper & Row.
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Duening, T. N. (2010). Five Minds for the Entrepreneurial Future: Cognitive Skills as the Intellectual Foundation for Next-Generation Entrepreneurship Curricula. The Journal of Entrepreneurship., 19(1), 1-22. doi:10.1177/097135570901900101
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Dweck, C. S., & Leggett, E. L. (1988). A social-cognitive Approach to Motivation and Personality. Psychological Review, 95(2), 256–273. doi:10.1037/0033-295X.95.2.256
Fellnhofer, K. (2017). The Power of Passion in Entrepreneurship Education: Entrepreneurial Role Models Encourage Passion? Journal of Entrepreneurship Education, 20(1), 58-87.
Glover, J. A., Ronning, R. R., & Reynolds, C. R. (1989). Handbook of Creativity (Perspectives on Individual Differences). New York: Plenum Press. doi:10.1007/978-1-4757-5356-1
Gupta, A. K., & Govindarajan, V. (2002). Cultivating a Global Mindset. The Academy of Management Executive, 16(1), 116-126.
Harms, R., Schulz, A., Kraus, S., & Fink, M. (2009). The conceptualization of 'opportunity' in strategic management research. International Journal of Entrepreneurial Venturing (IJEV), 1(1), 57-71. doi:10.1504/IJEV.2009.023820
He, B., Li, Z., & Vinig, T. (2010, September). Entrepreneurship, Technological Progress, and Resource Allocation Efficiency: A Case of China. Journal of Chinese Entrepreneurship, 2(3), 242-254. doi:10.1108/17561391011078730
Hmieleski, K. M., & Baron, R. A. (2009). Entrepreneurs' Optimism and New Venture Performance: A Social Cognitive Perspective. Academy of Management Journal, 52(3), 473–488. doi:10.5465/am.2009.41330755
Holzmann, V., & Golan, J. (2016). Leadership to Creativity and Management of Innovation? The Case of the “Innovation Club” in a Production Company. American Journal of Industrial and Business Management, 6, 60-71.
doi:10.4236/ajibm.2016.61005
Ireland, D. R., Hitt, M. A., & Sirmon, D. G. (2003, February 28). A Model of Strategic Entrepreneurship: The Construct and its Dimensions. Journal of Management, 29(6), 963–989. doi:10.1016/S0149-2063(03)00086-2
Kirzner, I. M. (1997). Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach. Journal of Economic Literature, 35(1), 60-85. Retrieved from https://www.jstor.org/stable/2729693
Kotter, J. P. (2001). What Leaders Really Do. Harvard Business Review, 79(11), 85-96.
Kouzes, T. K., & Posner, B. Z. (2019, November 4). Influence of managers’ mindset on leadership behavior. Leadership & Organization Development Journal, 40(8), 829-844. doi:10.1108/LODJ-03-2019-0142
Levinthal, D. A. (2017, November 1). Resource Allocation and Firm Boundaries. Journal of Management, 43(8), 2580-2587. doi:10.1177/0149206316667458
Luthans, F., Luthans, K. W., & Luthans, B. C. (2004, January–February). Positive psychological capital: Beyond human and social capital. Business Horizons, 47(1), 45–50. doi:10.1016/j.bushor.2003.11.007
Macko, A., & Tyszka, T. (2009, July). Entrepreneurship and Risk Taking. Applied Psychology, 58(3), 469 - 487. doi:10.1111/j.1464-0597.2009.00402.x
Majid, I. A., & Koe, W.-L. (2012). Sustainable Entrepreneurship (SE): A Revised Model Based on Triple Bottom Line (TBL). International Journal of Academic Research in Business and Social Sciences, 2(6), 293-310.
Miller, K. D. (2007, November 21). Risk and Rationality in Entrepreneurial Processes. Strategic Entrepreneurship Journal, 1, 57-74. doi:10.1002/set.2
Mills, Q. D. (2005). Leadership: How to Lead, How to LiveLeadership: How to Lead, How to Live. Waltham, MA: MindEdge Press.
Mitchelmore, S., & Rowley, J. (2010, May 2009). Entrepreneurial competencies: a literature review and development agenda. International Journal of Entrepreneurial Behaviour & Research, 16(2), 92-111. doi:10.1108/13552551011026995
Onuoha, G. (2007). Entrepreneurship. AIST International Journal, 10, 20-32.
Reddy, G., & Reddy.S., V. (2014). Significance of Innovation in Business Process of Value Chain. Journal of Behavioural Economics, Finance, Entrepreneurship, Accounting and Transport, 2(1), 18-25. doi:10.12691/jbe-2-1-3
Rekha, S. K., Ramesh, S., & Bharathi, J. S. (2014, January 1). Empirical Study on the Relationship between Entrepreneurial Mindset and the Factors Affecting Intrapreneurship: A Study in Indian Context. International Journal of Entrepreneurship, 18, 69-75.
Royal Thai Gazette. (2018). National Strategy (2018-2037). Vol 135, Chapter 82 A, Notice the date on 13 October 2018. (in Thai)
Shadbolt, N. M., & Olubode-Awosola, F. (2016). Resilience, risk, and entrepreneurship. International Food and Agribusiness Management Review, 19(2), 33-52.
Shane, S. A. (2003). A general theory of entrepreneurship: The individual-opportunity nexus. Cheltenham: Edward Elgar.
Surji, K. (2015). Understanding Leadership and Factors that Influence Leaders' Effectiveness. European Journal of Business and Management, 7(33), 154-167. doi:10.7176/EJBM/7-33-2015-03
Tomas, S.-G., Grigore, A.-M., & Marinescu, P. (2014). Economic development and entrepreneurship. Procedia Economics and Finance, 8, 436-443. doi:10.1016/S2212-5671(14)00111-7
Toor, S.-u.-R., & Ofori, G. (2008). Leadership versus Management: How They Are Different, and Why. Leadership and Management in Engineering, 8(2), 61-71. doi:10.1061/(ASCE)1532-6748(2008)8:2(61)
Ucbasaran, D., Flores-Romero, M., & Westhead, P. (2007, September 6). Entrepreneur’s Optimism and Experience: Does the Nature of Experience Matter? Frontiers of Entrepreneurship Research, 27(6), [4]. Retrieved from http://digitalknowledge.babson.edu/fer/vol27/iss6/4
Ucbasaran, D., Westhead, P., Wright, M., & Flores, M. (2010). The Nature of Entrepreneurial Experience, Business Failure, and Comparative Optimism. Journal of Business Venturing, 25(6), 541–555. doi:10.1016/j.jbusvent.2009.04.001
UNCTAD. (2012). Entrepreneurship Policy Framework and Implementation Guidance. New York and Geneva: United Nation.
Vandewalle, D. (2012, September). A Growth and Fixed Mindset Exposition of the Value of Conceptual Clarity. Industrial and Organizational Psychology, 5(3), 301-305. doi:10.1111/j.1754-9434.2012.01450.x
Venkataraman, S. (2002). Stakeholder Value Equilibration and the Entrepreneurial Process. The Ruffin Series of the Society for Business Ethics, 3, 45-57. doi:10.5840/ruffinx2002313
West, M., & Farr, J. L. (1990). Innovation at work. In M. A. West, & J. L. Farr, Innovation and creativity at work (pp. 3-13). Chichester: John Wiley & Sons, Ltd.
Wu, W.-W. (2009). A competency-based model for the success of an entrepreneurial start-up. WSEAS Transactions on Business and Economics, 6(6), 279-291.
TRANSLATED THAI REFERENCES
Government Gazette. (2018). National Strategy (2018-2037). Volume 135, Part 82 Kor. Announced on 13 October 2018.
Aboobaker, N., Rashmi, M. B., & Wilson, P. R. (2015). Entrepreneurial psychological capital of postgraduate management and non-management students in Kerala, India. Asian Journal of Management Research, 5(3), 407-420.
Adomako, S., Danso, A., Uddin, M., & Damoah, J. O. (2016). Entrepreneurs’ Optimism, Cognitive Style, and Persistence. International Journal of Entrepreneurial Behaviour & Research, 22, 84 - 108. doi:10.1108/IJEBR-07-2015-0158
Ardichvili, A., Cardozo, R., & Ray, S. (2003). A Theory of Entrepreneurial Opportunity Identification and Development. Journal of Business Venturing, 18(1), 105-123. doi:10.1016/S0883-9026(01)00068-4
Audretsch, D. B., Keilbach, M., & Lehmann, E. E. (2006). Entrepreneurship and Economic Growth. Oxford: Oxford Scholarship Online. doi:10.1093/prof:oso/9780195183511.001.0001
Barney, J. (1991, March 1). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120. doi:10.1177/014920639101700108
Berglund, H. (2007). Opportunities as Existing and Created: A Study of Entrepreneurs in the Swedish Mobile Internet Industry. Journal of Enterprising Culture, 15(3), 243-273. doi:10.1142/S0218495807000149
Bocken, N., Short, S. W., Rana, P., & Evans, S. (2014, February 15). A literature and practice review to develop sustainable business model archetypes. Journal of Cleaner Production, 65, 42-56. doi:10.1016/j.jclepro.2013.11.039
Carden, L., & Wood, W. (2018). Habit Formation and Change. Current Opinion in Behavioral Sciences, 20, 117-122. doi:10.1016/j.cobeha.2017.12.009
Cardon, M. S., Wincent, J., Singh, J., & Drnovsek, M. (2009). The nature and experience of entrepreneurial passion. Academy of Management Review, 34(3), 511-532. doi:10.5465/amr.2009.40633190
Chupp, B. K., Longenecker, C. O., & Ariss, S. (2013). The Mind of the Entrepreneur: How Successful Entrepreneurs Learn. Effective Executive, 16(1), 7-15.
Coelho, M. (2010). Unrealistic Optimism: Still a Neglected Trait. Journal of Business and Psychology, 25(3), 397-408. doi:10.1007/s10869-009-9146-9
Csikszentmihalyi, M., & Csikzentmihaly, M. (1990). Flow: The psychology of optimal experience. New York: Harper & Row.
Dehghanzadeh, M. R., Kholasehzadeh, G., Birjandi, M., Antikchi, E., Sobhan, M. R., & Neamatzadeh, H. (2016). Entrepreneurship Psychological Characteristics of Nurses. Acta Med Iran, 54(9), 595-599. Retrieved from https://acta.tums.ac.ir/index.php/acta/article/view/5162
Duening, T. N. (2010). Five Minds for the Entrepreneurial Future: Cognitive Skills as the Intellectual Foundation for Next-Generation Entrepreneurship Curricula. The Journal of Entrepreneurship., 19(1), 1-22. doi:10.1177/097135570901900101
Dweck, C. S. (2006). Mindset: The New Psychology of Success. New York: Random House Publishing Group.
Dweck, C. S., & Leggett, E. L. (1988). A social-cognitive Approach to Motivation and Personality. Psychological Review, 95(2), 256–273. doi:10.1037/0033-295X.95.2.256
Fellnhofer, K. (2017). The Power of Passion in Entrepreneurship Education: Entrepreneurial Role Models Encourage Passion? Journal of Entrepreneurship Education, 20(1), 58-87.
Glover, J. A., Ronning, R. R., & Reynolds, C. R. (1989). Handbook of Creativity (Perspectives on Individual Differences). New York: Plenum Press. doi:10.1007/978-1-4757-5356-1
Gupta, A. K., & Govindarajan, V. (2002). Cultivating a Global Mindset. The Academy of Management Executive, 16(1), 116-126.
Harms, R., Schulz, A., Kraus, S., & Fink, M. (2009). The conceptualization of 'opportunity' in strategic management research. International Journal of Entrepreneurial Venturing (IJEV), 1(1), 57-71. doi:10.1504/IJEV.2009.023820
He, B., Li, Z., & Vinig, T. (2010, September). Entrepreneurship, Technological Progress, and Resource Allocation Efficiency: A Case of China. Journal of Chinese Entrepreneurship, 2(3), 242-254. doi:10.1108/17561391011078730
Hmieleski, K. M., & Baron, R. A. (2009). Entrepreneurs' Optimism and New Venture Performance: A Social Cognitive Perspective. Academy of Management Journal, 52(3), 473–488. doi:10.5465/am.2009.41330755
Holzmann, V., & Golan, J. (2016). Leadership to Creativity and Management of Innovation? The Case of the “Innovation Club” in a Production Company. American Journal of Industrial and Business Management, 6, 60-71.
doi:10.4236/ajibm.2016.61005
Ireland, D. R., Hitt, M. A., & Sirmon, D. G. (2003, February 28). A Model of Strategic Entrepreneurship: The Construct and its Dimensions. Journal of Management, 29(6), 963–989. doi:10.1016/S0149-2063(03)00086-2
Kirzner, I. M. (1997). Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach. Journal of Economic Literature, 35(1), 60-85. Retrieved from https://www.jstor.org/stable/2729693
Kotter, J. P. (2001). What Leaders Really Do. Harvard Business Review, 79(11), 85-96.
Kouzes, T. K., & Posner, B. Z. (2019, November 4). Influence of managers’ mindset on leadership behavior. Leadership & Organization Development Journal, 40(8), 829-844. doi:10.1108/LODJ-03-2019-0142
Levinthal, D. A. (2017, November 1). Resource Allocation and Firm Boundaries. Journal of Management, 43(8), 2580-2587. doi:10.1177/0149206316667458
Luthans, F., Luthans, K. W., & Luthans, B. C. (2004, January–February). Positive psychological capital: Beyond human and social capital. Business Horizons, 47(1), 45–50. doi:10.1016/j.bushor.2003.11.007
Macko, A., & Tyszka, T. (2009, July). Entrepreneurship and Risk Taking. Applied Psychology, 58(3), 469 - 487. doi:10.1111/j.1464-0597.2009.00402.x
Majid, I. A., & Koe, W.-L. (2012). Sustainable Entrepreneurship (SE): A Revised Model Based on Triple Bottom Line (TBL). International Journal of Academic Research in Business and Social Sciences, 2(6), 293-310.
Miller, K. D. (2007, November 21). Risk and Rationality in Entrepreneurial Processes. Strategic Entrepreneurship Journal, 1, 57-74. doi:10.1002/set.2
Mills, Q. D. (2005). Leadership: How to Lead, How to LiveLeadership: How to Lead, How to Live. Waltham, MA: MindEdge Press.
Mitchelmore, S., & Rowley, J. (2010, May 2009). Entrepreneurial competencies: a literature review and development agenda. International Journal of Entrepreneurial Behaviour & Research, 16(2), 92-111. doi:10.1108/13552551011026995
Onuoha, G. (2007). Entrepreneurship. AIST International Journal, 10, 20-32.
Reddy, G., & Reddy.S., V. (2014). Significance of Innovation in Business Process of Value Chain. Journal of Behavioural Economics, Finance, Entrepreneurship, Accounting and Transport, 2(1), 18-25. doi:10.12691/jbe-2-1-3
Rekha, S. K., Ramesh, S., & Bharathi, J. S. (2014, January 1). Empirical Study on the Relationship between Entrepreneurial Mindset and the Factors Affecting Intrapreneurship: A Study in Indian Context. International Journal of Entrepreneurship, 18, 69-75.
Royal Thai Gazette. (2018). National Strategy (2018-2037). Vol 135, Chapter 82 A, Notice the date on 13 October 2018. (in Thai)
Shadbolt, N. M., & Olubode-Awosola, F. (2016). Resilience, risk, and entrepreneurship. International Food and Agribusiness Management Review, 19(2), 33-52.
Shane, S. A. (2003). A general theory of entrepreneurship: The individual-opportunity nexus. Cheltenham: Edward Elgar.
Surji, K. (2015). Understanding Leadership and Factors that Influence Leaders' Effectiveness. European Journal of Business and Management, 7(33), 154-167. doi:10.7176/EJBM/7-33-2015-03
Tomas, S.-G., Grigore, A.-M., & Marinescu, P. (2014). Economic development and entrepreneurship. Procedia Economics and Finance, 8, 436-443. doi:10.1016/S2212-5671(14)00111-7
Toor, S.-u.-R., & Ofori, G. (2008). Leadership versus Management: How They Are Different, and Why. Leadership and Management in Engineering, 8(2), 61-71. doi:10.1061/(ASCE)1532-6748(2008)8:2(61)
Ucbasaran, D., Flores-Romero, M., & Westhead, P. (2007, September 6). Entrepreneur’s Optimism and Experience: Does the Nature of Experience Matter? Frontiers of Entrepreneurship Research, 27(6), [4]. Retrieved from http://digitalknowledge.babson.edu/fer/vol27/iss6/4
Ucbasaran, D., Westhead, P., Wright, M., & Flores, M. (2010). The Nature of Entrepreneurial Experience, Business Failure, and Comparative Optimism. Journal of Business Venturing, 25(6), 541–555. doi:10.1016/j.jbusvent.2009.04.001
UNCTAD. (2012). Entrepreneurship Policy Framework and Implementation Guidance. New York and Geneva: United Nation.
Vandewalle, D. (2012, September). A Growth and Fixed Mindset Exposition of the Value of Conceptual Clarity. Industrial and Organizational Psychology, 5(3), 301-305. doi:10.1111/j.1754-9434.2012.01450.x
Venkataraman, S. (2002). Stakeholder Value Equilibration and the Entrepreneurial Process. The Ruffin Series of the Society for Business Ethics, 3, 45-57. doi:10.5840/ruffinx2002313
West, M., & Farr, J. L. (1990). Innovation at work. In M. A. West, & J. L. Farr, Innovation and creativity at work (pp. 3-13). Chichester: John Wiley & Sons, Ltd.
Wu, W.-W. (2009). A competency-based model for the success of an entrepreneurial start-up. WSEAS Transactions on Business and Economics, 6(6), 279-291.
TRANSLATED THAI REFERENCES
Government Gazette. (2018). National Strategy (2018-2037). Volume 135, Part 82 Kor. Announced on 13 October 2018.