Entrepreneurial Mindset, Orientation, and Performance of University Students in Indonesia
DOI:
https://doi.org/10.14414/jebav.v24i1.2541Keywords:
Autonomy, competitive aggressiveness, innovativeness, proactiveness, risk-takingAbstract
Entrepreneurship plays an important role in determining the level of economic growth of a country. This study aims are to explorethe impact of entrepreneurial mindset on innovativeness, risk-taking, competitive aggressiveness, autonomy, and proactiveness onentrepreneurial performance. This research uses Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze thedata.. It gathered data of 364 respondents, which were the bachelor students of management program of public universities inSurabaya, Indonesia. The results show that entrepreneurial mindset has a significant impact to innovativeness, risk-taking,competitive aggressiveness, autonomy, and proactiveness. It also enhances positive and significant impact to entrepreneurialperformance of the students. It implies that the entrepreneurship education of public universities in Surabaya, Indonesia succeedsto change the students’ mindset and orientation. The government needs to increase entrepreneurship education centers andbusiness incubator centers at various universities.References
Abdullahi, U., Kunya, S. U., Bustani, S. A., & Usman, N. (2019). Impact of competitive aggressiveness on
performance of small and medium construction firms in Nigeria. FUTY Journal of the Environment,
(1), 65-74.
Baregheh, A., Rowley, J., & Sambrook, S. (2009). Towards a multidisciplinary definition of innovation.
Management Decision, 47(8), 1323-1339. doi:10.1108/002517409109 84578
Barnabas, N., & Mekoth, N. (2010). Autonomy, market orientation and performance in Indian retail banking.
Asia Pacific Journal of Marketing and Logistics, 22(3), 330-350. doi:10.1108/ 13555851011062250
Bor, G. K. A. (2018). The influence of entrepreneurial innovativeness on firm performance among small and
medium-sized enterprises in Kenya. International Journal of Small Business and Entrepreneurship
Research, 6(1), 15-30.
Boyer, T. W. (2006). The development of risk-taking: A multi-perspective review. Developmental Review,
, 291-345. doi:10.1016/j.dr.2006.05.002
Callaghan, C., & Venter, R. (2011). An investigation of the entrepreneurial orientation, context and
entrepreneurial performance of Inner-City Johannesburg street traders. Southern African Business
Review, 15(1), 28-48.
Chen, C. N., Tzeng, L. C., Ou, W. M., & Chang, K. T. (2007). The relationship among social capital,
entrepreneurial orientation, organizational resources and entrepreneurial performance for new
ventures. Contemporary Management Research, 3(3), 213-232.
Crant, J. M. (2000). Proactive behavior in organizations. Journal of Management, 26(3), 435-462.
doi:10.1177%2F014920630002600304
Dhliwayo, S., & Van Vuuren, J. (2011). The relationship between strategic planning and entrepreneurship:
A paradox. Asian Journal of Business and Management Sciences, 1(3), 23-33.
Fadda, N. (2018). The effects of entrepreneurial orientation dimensions on performance in the tourism
sector. New England Journal of Entrepreneurship, 21(1), 22-44. https://doi.org/10.1108/NEJE-03-
-0004
Falahat, M., Tehseen, S., & van Horne, C. (2018). Entrepreneurial innovativeness and its impact on smes’
performances. International Journal of Entrepreneurship, 22(3), 1-9.
Gamble, J. E., Turnipseed, D. L., Lorenz, M. P., & Weaver, K. M. (2013). Determinants of business climate
perceptions in small and medium-sized enterprises: Does managerial ownership matter? Small
Business Institute Journal, 9(1), 18-36.
Ghozali, I. (2014). Structural equation modelling metode alternatif dengan partial least square (PLS).
Semarang: Universitas Diponegoro Semarang.
Goldsmith, R. E., & Foxall, G. R. (2003). The measurement of innovativeness. In L. V. Shavianina, (Ed.),
The international handbook on innovation (pp. 321-330). Kidlington, Oxford: Elsevier.
Gonthier, J., & Chirita, G. M. (2019). The role of corporate incubators as invigorators of innovation
capabilities in parent companies. Journal of Innovation and Entrepreneurship, 8(8), 1-21.
https://doi.org/10.1186/ s13731-019-0104-0
Graduate Management Admission Council (GMAC). (2014). Mba.com prospective students survey. Reston:
Graduate Management Admission Council.
Guo, B., Aveyard, P., Fielding, A., & Antony, S. (2008). Testing the convergent and discriminant validity of
the decisional balance scale of the transtheoretical model using the multi-trait multi-method
approach. Psychology of Addictive Behaviors, 22(2), 288-294. doi:10.1037/ 0893-164X.22.2.288
Guo, Z., Jiang, W. (2020). Risk-taking for entrepreneurial new entry: risk-taking dimensions and
contingencies. International Entrepreneurship and Management Journal, 16, 739–781.
https://doi.org/10.1007/ s11365-019-00567-8
Gustiawan, W., Emrizal, & Primadona. (2014). Student's creativity in entrepreneurship. Review of
Integrative Business & Economics Research, 3(2), 160-168.
Henseler, J., Ringle, C. M., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in
variance-based structural equation modeling. Journal of the Academy Marketing Science, 43, 115-
Journal of Economics, Business, and Accountancy Ventura Vol. 23, No. 2, December 2020 – March 2021, pages 1 – 16
doi:10.1007/s11747-014-0403-8
Jemal, S. (2020). Effect of entrepreneurial mindset and entrepreneurial competence on performance of
small and medium enterprise, evidence from literature review. International Journal of Management
& Entrepreneurship Research, 2, Issue (7), 476-491.
Jung, E., & Lee, Y. (2020). College students’ entrepreneurial mindset: educational experiences override
gender and major. Sustainability, 12, 1–28.
Khalili, H., Nejadhussein, S., & Fazel, A. (2013). The effect of entrepreneurial orientation on innovative
performance: Study of a petrochemical company in Iran. Journal of Knowledge-based Innovation in
China, 5(3), 262-278. doi:10.1108/ JKIC-09-2013-0017
Khan, M. S., Breitenecker, R. J., & Schwarz, E. J. (2015). Adding fuel to the fire: need for achievement
diversity and relationship conflict in entrepreneurial teams. Management Decision, 53(1), 75-99.
doi:10.1108/MD-02-2014-0066
Kosa, A., Mohammad, I., & Ajibie, D. (2018). Entrepreneurial orientation and venture performance in
Ethiopia: The moderating role of business sector and enterprise location. Journal of Global
Entrepreneurship Research, 8(25), 1-17, http://dx.doi.org/10.1186/s40497-018-0110-x
Kouakou, K. K. E., Li, C., Akolgo, I. G., & Tchamekwen, A. M. (2019). Evolution view of entrepreneurial
mindset theory. International Journal of Business and Social Science, 10(6), 116-129. doi:10.30845/
ijbss.v10n6p13
Laalo, H., & Heinonen, J. (2016). Governing the entrepreneurial mindset: business students’ constructions
of entrepreneurial subjectivity. European Educational Research Journal, 15(6), 696-713.
https://doi.org/10. 1177%2F1474904116662288
Lee, J. (2008). Effects of leadership and leader-member exchange on innovativeness. Journal of
Managerial Psychology, 23(6), 670-687. doi:10.1108/02 683940810894747
Leitao, J., & Franco, M. (2008). Individual entrepreneurship capacity and performance of SMEs. Available
at: https://mpra.ub.uni-uenchen.de/8179/1/MPRA_pa per_8179.pdf
Linton, G. (2019). Innovativeness, risk-taking, and proactiveness in startups: a case study and conceptual
development. Journal of Global Entrepreneurship Research, 9(20), 1-21.
https://doi.org/10.1186/s40497-019-0147-5
Loboda, V., Ostrovskyi, I., & Katernyak, I. (2018). Developing entrepreneurial mindset in university
undergraduates. e-methodology, 5, 114-131. https://doi.org/10.15503/emet.v5i5.525
Lumpkin, G. T., & Dess, G. G. (2001). Linking two dimensions of entrepreneurial orientation to firm
performance: The moderating role of environment and industry life cycle. Journal of Business
Venturing, 16(5), 429-451. doi:10.1016/S0883-9026(00)00048-3
McDonald, F., Warhurst, S., & Allen, M. (2008). Autonomy, embeddedness, and the performance of foreign
owned subsidiaries. Multinational Business Review, 16(3), 73-92. doi:10.1108/152 5383X200800014
Mikhailova, O. B. (2015). The value-motivational structure of the innovativeness of young students.
Psychology in Russia, 8(1), 112-124. doi:10.11621/pir.20 15.0110
Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management Science,
(7), 770-792. doi:10.1287/mnsc.29.7.770
Mitcham, C. (2005). Encyclopedia of science, technology, and ethics. Michigan, USA: Macmillan
Reference.
Muafi, & Roostika, R. (2014). Organizational performance and competitive advantage determinants of
creative SMEs. European Journal of Economics and Management, 1(2), 7-25.
Ndubisi, N. O. (2014). Entrepreneurship and service innovation. Journal of Business & Industrial Marketing,
(6), 449-453. doi:10.1108/JBIM-07-20 13-0148
Neneh, N. B. (2012). An exploratory study on entrepreneurial mindset in the small and medium enterprise
(SME) sector: A South African perspective on fostering small and medium enterprise (SME) success.
African Journal of Business Management, 6(9), 3364-3372. doi:10.58 97/AJBM10.1631
Noer, B. A., Idrus, M. S., Hadiwijoyo, D., & Wirjodirdjo, B. (2013). Entrepreneur as a career choice:
Interrelationship between risk-taking, competitive aggressiveness, proactiveness, innovativeness,
and autonomy. IOSR Journal of Business and Management, 11(5), 21-28. doi:10.9790/487X-
Oosterbeek, H., Van Praag, M. C., & Ijsselstein, A. (2010). The impact of entrepreneurship education on
entrepreneurship skills and motivation. European Economic Review, 54, 442-454.
doi:10.1016/j.euroecorev.2009.08.002
Paek, B., & Lee, H. (2018). Strategic entrepreneurship and competitive advantage of established firms:
evidence from the digital TV industry. International Entrepreneurship and Management Journal, 14,
–925. https://doi.org/10.1007/s11365-017-0476-1
Park, H. M. (2008). Hypothesis testing and statistical power of a test. Retrieved June 1, 2020 https://scholar
works.iu.edu/dspace/bitstream/handle/2022/19738/Hypothesis%20Testing%20and%20Statistical%20Powe
r%20of%20a%20Test.pdf?sequence=1&isAllowed=y
Piperopoulos, P. (2012). Could higher education programs, culture and structure stifle the entrepreneurial
intentions of students? Journal of Small Business and Enterprise Development, 19(3), 461-483.
doi:10. 1108/14626001211250162
Prihandono, D., & Utami, S. (2018). Unravel entrepreneurial mindset in Indonesian higher education
institutions. Proceedings of the International Conference on Science and Education and Technology
(ISET 2018)
https://dx.doi.org/10.2991/iset-18.2018.2
Quintane, E., Casselman, R. M., Reiche, B. S., & Nylund, P. (2011). Innovation as a knowledge-based
outcome. Journal of Knowledge Management, 15(6), 928-947. doi:10.1108/1367327 1111179299
Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M. (2009). Entrepreneurial orientation and business
performance: An assessment of past research and suggestions for the future. Entrepreneurship
Theory & Practice, 33(3), 761-787. doi:10. 1111%2Fj.1540-6520.2009.00308.x
Sebikari, K. V. (2014). Entrepreneurial performance and small business enterprises in Uganda.
International Journal of Small Business and Entrepreneurship Research, 2(4), 1-12.
Segal, G., Borgia, D., & Schoenfeld, J. (2005). The motivation to become an entrepreneur. International
Journal of Entrepreneurial Behavior & Research, 11(1), 42-57. doi:10.1108/135525 50510580834
Smith, A. R. (2013). The relationship of personality to entrepreneurial performance: an examination of
openness to experience facets. Retrieved June 1, 2020 https://pdfs.semanticscholar. org/bc9
a/feb243 a84b1acfadeb b1b08bbe560459eed4.pdf
Solesvik, M. Z., Westhead, P., Matlay, H., & Parsyak, V. N. (2013). Entrepreneurial assets and mindsets:
Benefit from university entrepreneurship education investment. Education + Training, 55(8/9), 748-
doi:10.1108/ET-06-2013-0075
Stambaugh, J. E., Yu, A., & Dubinsky, A. J. (2011). Before the attack: A typology of strategies for
competitive aggressiveness. Journal of Management Policy and Practice, 12(1), 49-63.
Sundqvist, S., Kyläheiko, K., Kuivalainen, O., & Cadogan, J. W. (2012). Kirznerian and Schumpeterian
entrepreneurial-oriented behavior in turbulent export markets. International Marketing Review, 29(2),
-219. doi:10.1108/026513312 11216989
Sutanto, E. M., Sigiols, P. J., & Putih, I. (2019). University students’ entrepreneurial performance. Journal of
Economics Business Accounting Ventura, 21(2), 251–258. doi:10.14414/jebav. v21i2.1197
Szerb, L., & Imreh, S. (2007). Entrepreneurship education and entrepreneurial attitudes of Hungarian
students: An international comparison. Paper presented at the 5 th International Conference on
Management, Enterprise and Benchmarking in Budapest, Hungary, June 1–2, 2007, pp. 71–88,
Retrieved June 1, 2020 https://kgk.uni-obuda.hu/sites/default/files/6_Szerb.pdf
Tseng, C. C. (2013). Connecting self-directed learning with entrepreneurial learning to entrepreneurial
performance. International Journal of Entrepreneurial Behavior & Research, 19(4), 425-446. doi:
1108/IJEBR-08-2011-0086
Unsworth, K. L., & Parker, S. K. (2003). Proactivity and innovation: Promoting a proactive and innovative
workforce for the new workplace. In D. Holman, T. D. Wall, C. W. Clegg, P. Sparrow, & Howard, A.
(Ed.s), The new workplace: A guide to the human impact of modern working practices (pp. 175-196).
Chichester: John Wiley & Sons.
Valerio, A., Parton, B., & Robb, A. (2014). Entrepreneurship education and training programs around the
world: Dimensions for success. Washington, DC: World Bank. Retrieved June 1, 2020
https://openknow ledge.worldbank.org/handle/10986/18031 License: CC BY 3.0 IGO
Van Gelderen, M., & Jansen, P. (2006). Autonomy as a start-up motive. Journal of Small Business and
Enterprise Development, 13(1), 23-32. doi:10. 1108/14626000610645289
Wang, Y., & Poutziouris, P. (2010). Entrepreneurial risk-taking: Empirical evidence from UK family firms.
International Journal of Entrepreneurial Behavior & Research, 16(5), 370-388.
doi:10.1108/135525510110 71841
Wang, Z., & Zang, Z. (2005). Strategic human resources, innovation and entrepreneurship fit: A cross-
regional comparative model. International Journal of Manpower, 26(6), 544-559.
doi:10.1108/0143772051 0625458
Wardana, L. W., Narmaditya, B. S., Wibowo, A., Mahendra, A. M., Wibowo, N. A., Harwida, G., & Rohman,
A. N. (2020). The impact of entrepreneurship education and students' entrepreneurial mindset: the
mediating role of attitude and self-efficacy. Heliyon, 6(9), e04922.
https://doi.org/10.1016/vj.heliyon.2020.e04922.
Weinstein, N., Przybylski, A. K., & Ryan, R. M. (2012). The index of autonomous functioning: development
of a scale of human autonomy. Journal of Research in Personality, 46, 397-413.
Journal of Economics, Business, and Accountancy Ventura Vol. 23, No. 2, December 2020 – March 2021, pages 1 – 16
doi:10.1016/j.jrp.2012. 03.007
Wenhong, Z., & Liuying, F. (2010). The impact of entrepreneurial thinking system on risk-taking propensity
and entrepreneurial behavior. Journal of Chinese Entrepreneurship, 2(2), 165-174.
doi:10.1108/1756139 1011051144
Wong, S. K. S. (2012). The effects of entrepreneurial orientation on product advantage and new product
success. Journal of Chinese Entrepreneurship, 4(3), 243-262. doi:10.1108/17561391 211262175
Wood, J. (2019). In Indonesia, over a third of young people want to be entrepreneurs. Retrieved June 1,
https://www.weforum.org/agenda/2019/08/indonesia-young-people-entrepreneu r/
Yildiz, S., Baştürk, F., & Boz, İ. T. (2014). The effect of leadership and innovativeness on business
performance. Procedia - Social and Behavioral Sciences, 150, 785-793. doi:10.1016/j.sbspro.
09.064
Yu, A., Lumpkin, G. T., Parboteeah, K. P., & Stambaugh, J. E. (2019). Autonomy and family business
performance: The joint effect of environmental dynamism and national culture. International Small
Business Journal: Researching Entrepreneurship, 37(2), 153–185. DOI: 10.1177/0266242618811893
Zhang, H., Zhang, T., Cai, H., Li, Y., Huang, W. W., & Xu, D. (2014). Proposing and validating a five-
dimensional scale for measuring entrepreneurial orientation: an empirical study. Journal of
Entrepreneurship in Emerging Economies, 6(2), 102-121. doi:10.1108/JEEE-03-2014-0004
Zhao, F. (2005). Exploring the synergy between entrepreneurship and innovation. International Journal of
Entrepreneurial Behavior & Research, 11(1), 25-41. doi:10.11 08/13552550510 580825
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2021 Eddy Madiono Sutanto, Evan Lau, Andreas Ezra
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
