INFLUENCE OF PSYCHOLOGICAL FACTOR ON ENTREPRENEURIAL SUCCESS IN KATHMANDU VALLEY
Date
2024
Authors
Journal Title
Journal ISSN
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Publisher
Shanker Dev Campus
Abstract
This objective of this study is effect of psychological factors on entrepreneurial success
in Kathmandu valley. This study employs both qualitative and quantitative methods
within a descriptive and causal research design the research draws on insights from
various studies to establish a robust conceptual framework. To capture a representative
sample, convenient sampling was applied, involving 400 respondents selected from the
youth demographic in Nepal. The analysis of questionnaire data is conducted using the
Statistical Package for the Social Sciences (SPSS) which enabled a comprehensive
examination of the relationships between distinct psychological factors and
entrepreneurial success. The variables used in this study include Business Commitment,
Self-Concept, Work Stress, and Managerial Competence, which were identified as
crucial psychological factors influencing entrepreneurial success. Correlation analysis
of the data revealed intriguing positive associations between these psychological
variables and success of business, aligning with empirical evidence found in prior
research. Regression analysis highlighted the collective and significant contribution of
these psychological factors in elucidating variations in business success. The findings
indicate that Business Commitment, Self Concept, and Managerial Competence play
significant roles in predicting entrepreneurial success in Kathmandu Valley. The
findings revealed significant positive associations between these psychological factors
and success of business which indicate that individuals with higher levels of Business
Commitment, Self Concept, and Managerial Competence tend to achieve greater
success in business. This study used descriptive and causal research design, by
collecting sample of 400 respondents from the youth demographic and business owners
in Nepal which enabled a thorough examination of the relationships between
psychological factors and entrepreneurial success. By using correlation and regression
analyses this study, demonstrated the collective and significant contribution of these
psychological factors in elucidating variations in business success. Business
Commitment, Self Concept, and Managerial Competence emerged as significant
predictors of entrepreneurial success in Kathmandu Valley.
Key words: Business Commitment, Self Concept,, Work Stress, Managerial
Competence, Success of Business