Factor Analysis of Entrepreneurship for Entrepreneurial Value Creation
DOI:
https://doi.org/10.52731/lbds.003.165Keywords:
Entrepreneurship, Entrepreneur, Entrepreneur spirits, Entrepreneur competencyAbstract
This paper analyzes the entrepreneur spirit in Japan and globally based on the results of the Global Entrepreneurship Monitor (GEM) 2019 / 2020 GLOBAL REPORT (GEM Report). We identified three factors that reveal Japanese attitudes towards entrepreneurship.
The study aims to provide a detailed understanding of the components of entrepreneurship based on its findings. According to the GEM Report, Japan ranks 47th out of fifty countries in terms of the Total early-stage Entrepreneurial Activity (TEA) ranking. It is necessary to clarify the attitudes of Japanese people towards entrepreneurship before implementing any necessary measures. Therefore, any countermeasure and actions will be more effective and productive.
We performed factor analysis on the responses to the 17 specific questions using maximum likelihood estimation (MLE), Promax rotation, and t-tests.
The results of factor analysis showed that Japanese people are not optimistic and lack confidence in themselves, but they are shrewd.
Please note, due to low questionnaire data reliability, further investigation is needed to address issues and enhance reliability.
References
“GEM 2019 / 2020 GLOBAL REPORT”, Global Entrepreneurship Monitor Team, https://www.gemconsortium.org/report/gem-2019-2020-global-report, (accessed 2023-7-18).
“In the first year of startup creation, the policy is geared up with a 5-year plan”, Ministry of Economy, Trade and Industry, https://journal.meti.go.jp/p/22377/, (ac-cessed 2023-7-18).
“METI Startup Policies plan”, Ministry of Economy, Trade and Industry, https://www.meti.go.jp/policy/newbusiness/meti_startup_policies/hontai_220621.pdf, (accessed 2023-7-18).
“National Entrepreneurship Human Resources Development Program”, Ministry of Education, Culture, Sports, Science and Technology, https://entrepreneurship-education.mext.go.jp/, (accessed 2023-7-18).
“2018 Survey on Entrepreneurship and Entrepreneurial Attitudes”, Japan Finance Corporation, https://www.jfc.go.jp/n/findings/pdf/kigyouishiki_190117_1.pdf, (ac-cessed 2023-7-18).
R. Cantillon, “Essai sur la nature du commerce en general”, Institut Coppet, France, 1755.
“Online Etymology Dictionary”, Online Etymology Dictionary, https://www.etymonline.com/word/entrepreneur/, (accessed 2023-7-18).
J. B. Say, “A treatise on political economy: or the production, distribution, and consumption of wealth”, Batoche Books, Ontario, Canada, 1880.
J. A. Schumpeter and R. Opie, “The theory of economic development: an inquiry into profits, capital, credit, interest, and the business cycle”, Harvard University Press, USA, 1949, P66.
P. F. Drucker, “Innovation and entrepreneurship: practice and principles”, HarperCollins Publishers Inc., USA, 1985, P.8, P34.
W. D. Bygrave and A. Zacharakis, “Entrepreneurship”, J. Wiley & Sons, Inc., USA, 2008.
J. H. Dyer, H. B. Gregersen, and C. Christensen, "Entrepreneur behaviors, oppor-tunity recognition, and the origins of innovative ventures," Strategic Entrepreneur-ship Journal, vol. 2, USA, 2008, pp. 317-338.
H. M. Neck, C. P. Neck, and E. L. Murray, “Entrepreneurship: the practice and mindset”, 2nd ed. Sage, USA, 2018, PP.111-114, P.519, P132, P181.
“Longman Dictionary of Contemporary English Online”, Pearson Education, https://www.ldoceonline.com/jp/dictionary/ship/,(accessed 2023-7-18).
J. A. Timmons and S. Spinelli, “New venture creation: entrepreneurship for the 21st century”, 8th ed. McGraw-Hill Irwin, USA, 1999, P.554.
H, Frederick, D. F. Kuratko and R. M. Hodgetts, “Entrepreneurship: theory, pro-cess, practice”, 6th ed. Thomson, Australia, 2004.
Q. A. A. f. H. Education, “Enterprise and entrepreneurship education: guidance for UK higher education providers”, The Quality Assurance Agency, Gloucester, UK, 2018, P19.
Yutaka Tanabe, "A Study of the Japanese Translation of Social Entrepreneurship: A Contrastive Linguistic Perspective," The nonprofit review, vol. 21, no. 1+ 2, Ja-pan, 2022, pp. 71-80.
K. E. Mitchell, S. Al Levin, and J. D. Krumboltz, "Planned happenstance: Con-structing unexpected career opportunities," Journal of counseling & Development, vol. 77, no. 2, 1999, pp. 115-124.
Takao Hasegawa, "Exploratory study on career shift: Process and competency in light of twenty practical cases," The Journal of Economic Education, vol. 38, Ja-pan, 2019, pp. 61-67.
Tom Eisenmann, “Entrepreneurship: A Working Definition”, https://hbr.org/2013/01/what-is-entrepreneurship.html/, (accessed 2023-7-18).
Minat Tetsuo, “Expected profit determines the start-up rate”, in: Shinichi Ota ed. "Firms and Policies: Paradigm Shift in Theory and Practice," MINERVA Modern Management, Japan, 2003, P87.
Masaaki Suzuki, " What kind of entrepreneurs are satisfied with their jobs?" Ja-pan Finance Corporation Research Institute, collection of theses No.13, November 2011. https://www.jfc.go.jp/n/findings/pdf/ronbun1111_02.pdf, (accessed 2023-7-18).
Mayumi Karasawa, "A Japanese perception of self and others: Self-critical and other-enhancing biases” The Japanese Journal of Psychology 2001, Vol. 72, No. 3, Japan.
