Unleashing the Power of Mindset

How Psychological Attributes Shape Entrepreneurial Inclination?

Abstract

The advancement of a nation's economy is heavily reliant upon entrepreneurial individuals and their innovative undertakings. It is widely acknowledged in literature that intention is the first step towards entrepreneurship. This paper aims to deliver deeper into this realm by analyzing the influence of specific psychological attributes on the entrepreneurial intention of young university students from two Lebanese universities.

The present investigation centers on elucidating a set of key psychological factors, namely risk propensity, need for achievement, innovativeness, and locus of control. The study involved 481 students from two Lebanese universities who completed a self- administered online questionnaire. Factor analysis and multiple regression were utilized to scrutinize the data. The results showed a strong and significant association between students’ need for achievement, inclination towards risk-taking, internal locus of control, innovativeness, and students’ inclination towards entrepreneurship. Based on the analysis results, insights were provided to educational institutions aiming to foster entrepreneurship by identifying and developing the characteristics in students, through a better design of curriculums that support and encourage entrepreneurial practices.