Differences in Psychological Strategies of Failed and Operational Business Owners in the Fiji Islands

Authors: van Gelder, Jean-Louis; de Vries, Reinout E.¹; Frese, Michael²; Goutbeek, Jan-Peter³

Source: Journal of Small Business Management, Volume 45, Number 3, July 2007 , pp. 388-400(13)

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Abstract:

This study investigates the differences between failed and operational businesses from a psychological perspective. The sample included 71 operational and 20 failed business owners from Suva, the capital of Fiji. It was hypothesized that operational business owners more often employ a detailed and long-term planning strategy, whereas failed business owners more often pursue a reactive strategy, that operational business owners set more specific and more difficult goals, and that they have a higher degree of human capital than failed entrepreneurs. The data were analyzed using discriminant analysis. Results confirmed the hypotheses regarding planning and goal specificity.

Document Type: Research article

DOI: http://dx.doi.org/10.1111/j.1540-627X.2007.00219.x

Affiliations: 1: Department of Work and Organizational Psychology, VU University of Amsterdam and Department of Management and Public Administration, University of South Pacific 2: Department of Work and Organizational Psychology, University of Giessen 3: Centre of Man in Aviation of the Royal Dutch Airforce, Soesterberg, the Netherlands

Publication date: 2007-07-01