Browsing by Author "Pirie, Natasha"

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    An investigation into the psychological characteristics that South African entrepreneurs attribute to the success of their businesses
    (Stellenbosch : Stellenbosch University, 2020-12) Pirie, Natasha; Bailey, Lisa T.; Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Industrial Psychology.
    ENGLISH SUMMARY : South Africa currently faces high levels of unemployment and inequality, and many sources have identified entrepreneurship as a mechanism by which these challenges can be tackled. To explore the personal experiences of entrepreneurs that enable them to run successful businesses in the South African context and achieve the research objectives of this study, a qualitative research design was employed based on the interpretive paradigm. A phenomenological approach was followed using a combination of purposive and snowball sampling. Data was collected from a total of 14 participants through two phases, namely semi-structured interviews and focus group discussions with successful entrepreneurs (including coaches or specialists working with entrepreneurs for phase 2). In summary, the results of the study indicated that 1) the perceived challenges faced by entrepreneurs in South Africa include financial challenges, insufficient and ineffective formal support structures and poor educational systems and support; 2) the perceived opportunities available to entrepreneurs in South Africa relate to entrepreneurship education and support; 3) the psychological characteristics that South African entrepreneurs attribute to the success of their businesses include conscientiousness, emotional stability (moderate levels), and openness to experience from the Big 5 model of personality, as well as risk propensity; 4) the contextual factors attributed to entrepreneurial success in South Africa involve social capital and leveraging of previous skills and experience; and lastly, 5) the reason for becoming and succeeding as an entrepreneur is due to passion. With these insights, various interventions could be developed to inspire and support individuals to become entrepreneurs, as well as to equip them with the skills and mindset needed to run successful ventures, thereby helping to alleviate the desperate situation regarding poverty and income inequality in South Africa.