How do extrinsic factors influence the decision of young adults to become an entrepreneur?

University essay from Linnéuniversitetet/Institutionen för organisation och entreprenörskap (OE); Linnéuniversitetet/Institutionen för organisation och entreprenörskap (OE)

Abstract: ‘How do extrinsic factors influence the decision of young adults to become an entrepreneur?’ Michelle Hartmann and Aiko Thumm, 2018: Applied Double Degree Bachelor, Linnaeus University Växjö, Sweden and ICN Business School Nancy, France. Even though governments all over the world are putting a spotlight on entrepreneurs and entrepreneurship as a whole, the motivations of why to become a venture creator is rarely touched upon. In general, there are two forms of possible influences on entrepreneurial intentions, namely intrinsic and extrinsic drivers. In order to further describe the phenomenon of extrinsic factors influencing entrepreneurial intentions, this study aims to describe the interplay of three extrinsic factors for venture creation. These three factors are entrepreneurship enhancing education, role models as well as influence of opportunity and necessity. A descriptive, qualitative study has been chosen for that purpose. During semi-structured interviews, the narrative story of the six participants is told. The findings revolve around the narratives of the respondents’ propositions towards the three aforementioned extrinsic factors. This paper shows that the present educational system only partially conveys necessary knowledge and entrepreneurial skills. Furthermore, this study suggests, that there is more than only a positively influencing role model, videlicet, a negative example representing things the young adult does not want to become. In addition, the study depicts the predicament of a clear differentiation between necessity and opportunity entrepreneurship. Lastly this paper concludes, that more than one factor are motivational drivers for young entrepreneurs and therefore opens a wide research area for future fellow entrepreneurship researchers.

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