Entreprenuers success in business: Some critical factors

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

This study analyzed three important questions concerning entrepreneurship success in business that are the factors influence entrepreneurs involvement in business, the levels of profits return and the critical success factors in entrepreneurship. A total number of 70 entrepreneurs were involved in this research. The analysis of the study indicate that the most factors encouraged entrepreneurs in business is the desire to achieve freedom and satisfaction. Other factors are to support the family, to become rich, to fulfill the ambitions, to become self-reliance and disfavor of being salaried workers. Based on the profit returns, majority entrepreneurs are successful by having returns >3 years. Meanwhile, from the mean rank analysis of the study shows that successful factors are attributed by age, good record management and financial control, planning skills, marketing skills and educational levels. The result of the study also indicate that there are four critical success factors in business namely; management experience (r = 0.312, p<0.05), industry experience (r = 0.308, p<0.05), the economic situation (r = 0.265, p<0.05) and planning skills (r = 0.251, p<0.05). The study suggests that these critical success factors need to be addressed in any entrepreneurs training efforts in the future.

Original languageEnglish
Pages (from-to)369-373
Number of pages5
JournalInternational Business Management
Volume6
Issue number3
DOIs
Publication statusPublished - 2012

Fingerprint

Entrepreneurs
Critical factors
Factors
Critical success factors
Entrepreneurship
Profit
Planning
Management control
Self-reliance
Economics
Financial control
Records management
Educational level
Influence factors
Workers
Marketing
Industry

Keywords

  • Business
  • Critical success factor
  • Entrepreneur
  • Entreprenuership
  • Planning skils
  • Profit

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management

Cite this

Entreprenuers success in business : Some critical factors. / Abdul Manaf, Azmi; Omar, Nik Hairi; Lee, K. Y.; Ibrahim, Fauziah.

In: International Business Management, Vol. 6, No. 3, 2012, p. 369-373.

Research output: Contribution to journalArticle

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