This study investigates the growing interest in entrepreneurship amidst the recent economic downturn and the continuing instability in the job market. Despite various programs and policies implemented by the government and related organizations to sup...
This study investigates the growing interest in entrepreneurship amidst the recent economic downturn and the continuing instability in the job market. Despite various programs and policies implemented by the government and related organizations to support entrepreneurship, many entrepreneurs, unlike their counterparts in other OECD countries, experience high initial failure rates. This study empirically analyzes whether individual personality traits (MBTI) influence the intention to start a business, mediated by entrepreneurial spirit. For this purpose, a survey was conducted offline on November 30, 2022, targeting first-year students in the Department of Design Engineering at H University in Siheung, Gyeonggi Province, who were enrolled in the course 'Design and Entrepreneurship'.
The main findings are as follows:
First, individual traits partially affect entrepreneurial spirit. The 'Energy Orientation' trait of Type E influenced risk-taking and initiative more than Type I, while risk-taking was more influenced by Type I than Type E. The 'Information Perception Method' trait of Type N had a higher influence on innovation, risk-taking, and initiative than Type S. The 'Decision-Making Process' trait showed no influence on entrepreneurial spirit, while the 'Environmental Adaptation Attitude' trait of Type J had a higher influence on risk-taking and initiative than Type P.
Second, individual traits partially directly influence the intention to start a business. Type E of 'Energy Orientation,' Type N of 'Information Perception Method,' and Type T of 'Decision-Making Process' had a higher influence on entrepreneurial intention than their counterparts.
Third, the innovativeness of entrepreneurial spirit showed a partial mediating effect between the 'Information Perception Method' and the intention to start a business, with no relation to other traits.
Fourth, the risk-taking of entrepreneurial spirit showed a complete mediating effect between 'Energy Orientation' and the intention to start a business, and a partial mediating effect with 'Information Perception Method' and 'Environmental Adaptation Attitude,' while 'Decision-Making Process' showed no effect.
Fifth, the autonomy of entrepreneurial spirit showed a complete mediating effect between 'Energy Orientation' and the intention to start a business but was not verifiable with 'Information Perception Method,' 'Decision-Making Process,' and 'Environmental Adaptation Attitude.'
Sixth, the initiative of entrepreneurial spirit showed a complete mediating effect between 'Energy Orientation' and the intention to start a business and a partial mediating effect with 'Information Perception Method' and 'Environmental Adaptation Attitude,' with no effect with 'Decision-Making Process.'
The implications and suggestions of this paper are as follows:
First, to strengthen the intention to start a business, entrepreneurship education should be designed customized to individual traits, especially focusing on the 'Information Perception Method,' where intuitive (N) types require education focusing on innovation in entrepreneurial spirit after setting business strategies and visions, and sensing (S) types require practical business planning and step-by-step education focusing on risk-taking.
Second, the negative mediating effect of entrepreneurial spirit's autonomy on the intention to start a business differs from previous studies. This could be inferred from the specificity of the surveyed group. Most first-year university students have not set a clear direction for the future. The lack of experience and the uncertainty and risks associated with it could decrease their will to start a business. Therefore, entrepreneurship education for first-year university students should focus on risk-taking rather than autonomy.
Third, it is necessary to recognize that not all students can become entrepreneurs and manage businesses. According to Shane and Venkataraman (2000), entrepreneurship is about "who, by what means, and with what effects opportunities to create future goods and services are discovered, evaluated, and exploited." Understanding that 'entrepreneurship is not just about starting a business' and recognizing the need for education that understands various roles in creating new businesses, such as planning, development, and support, apart from management, is essential.
Based on these research findings, entrepreneurship support agencies and educational institutions can contribute to building a sustainable entrepreneurial ecosystem by developing and implementing entrepreneurship education programs that consider individual traits, thereby increasing the success rate of entrepreneurs.