ROLE OF PSYCHOLOGICAL CAPITALIN DEALING WITH THE BUSINESS CHALLENGES FACED BY ENTREPRENEURS

Authors

  • Umerlshfaq COMSATS University Islamabad, Abbottabad Campus
  • Tanveer Ahmed Khooharo Lecturer, Govt. Arts and Commerce College Larkana
  • Fazli Wadood Assistant Professor, Department of Management Sciences, University of Buner KP

Keywords:

Psychological capacities, challenges, Hope, Self-efficacy, Resilience, Optimism

Abstract

Psychological capital (PsyCap) can be cited as “ HERO” ,comprising of four factors (Hope, Self-Efficacy, Resilience and Optimism) and has been gaining a lot of prominence in many of the social science studies particularly studies pertaining to leadership.(Juhdi, Hamid, Rizal, & Juhdi, 2015) found that there exists a relation between entrepreneurial success and psychological capital. The present study reports the results of a survey conducted among successful Indian entrepreneurs. This paper explains about the various challenges faced by entrepreneurs and their psychological capital in dealing with the challenges. A selfadministered questionnaire was distributed to 209 entrepreneurs with more than 5 years of entrepreneurial experience, working in different sectors in India. The survey explored the role of PsyCap in entrepreneurs in dealing with their early and current business challenges. The results show that successful entrepreneurs tend to have an above average level of PsyCap and Optimism and Self-Efficacy plays and more significant role as compared to Hope and Resilience for an entrepreneur to be successful. It was also found that women entrepreneurs have a higher level of PsyCap as compared to men entrepreneurs.

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References

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Published

2022-09-30

How to Cite

Umerlshfaq, Ahmed Khooharo, T., & Wadood, F. (2022). ROLE OF PSYCHOLOGICAL CAPITALIN DEALING WITH THE BUSINESS CHALLENGES FACED BY ENTREPRENEURS. The Journal of Contemporary Issues in Business and Government, 28(3), 186–202. Retrieved from https://cibgp.com/au/index.php/1323-6903/article/view/2367

Issue

Vol. 28 No. 3 (2022): The journal of contemporary issues in business and government

Section

Articles

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