METHODS IN BUSINESS RESEARCH

MBA-II (C)
SUBMITTED TO: SIR H.MUSHTAQ AHMAD

RESEARCH PAPER ON

Intent of Entrepreneursh ip in Fresh r!"u!tes

T!#$e of Contents
1. Acknowledgement 2. Abstract 3. Introduction 4. Contribution 5. Literature Review !. "igni#icance o# t$e "tud% 7. &b'ectives o# "tud% . ($eoretical )ramework *. +ariables 1,. -%.ot$esis 11. /et$odolog% 12. 0ata Anal%sis 13. (est o# reliabilit% i. 1nowledge ii. Attitude iii. Role /odel 14. 0iscussion 15. Conclusion 1!. Re#erences 17. A..endi2 11 12 12 13 13 14 15 15 15 1* 23 27 27 2* 3, 3 4 5 7

A%&no'$e"(e)ent
3e bestow all .raises4 acclamations and a..reciation to Almig$t% Alla$ t$e most merci#ul and com.assionate4 t$e most gracious and bene#icent4 w$ose bounteous blessing enabled us to .erceive and .ursue $ig$er ideals o# li#e. All .raises and res.ects are #or -is -ol% 5ro.$et /o$ammad 6.eace be u.on $im7 w$o enabled us to recogni8e t$e creator. 3e grate#ull% acknowledge su.ervision o# /r.-./us$ta9 A$mad4 Assistant 5ro#essor 0e.artment o# /anagement "ciences :a$ria ;niversit% Islamabad4 w$o was ver% kind4 $el.#ul and coo.erative t$roug$out t$e .ro'ect. 3e are also $eart #ull% t$ank#ul to /s.<a%ab #or $er su..ort and guidance t$roug$out t$e .ro'ect. ".ecial t$anks to our .arents4 w$ose moral su..ort4 encouragement and .ra%ers enabled us to com.lete t$is work dedicatedl%. 3e would like to t$ank all t$e #acult% members #or t$eir coo.eration and $ealt$% suggestions t$roug$out our .ro'ect.

ABSTRACT
=ntre.reneurs$i. $as been em.$asi8ed in man% countries as a wa% o# boosting economic growt$ and 'ob creation. As entre.reneurs$i. is becoming .o.ular around t$e world4 its education s$ould be customi8ed according to eac$ countr%>s uni9ue cultural conte2t. In recent %ears it $as become increasingl% a..arent t$at graduates are seriousl% interested in establis$ing t$eir own businesses. ($is trend mirrors c$anges in em.lo%ment .atterns wit$in t$e general econom%. In t$is researc$ .a.er di##erent as.ects and #actors t$at lead t$e graduates to be entre.reneurs $as been e2.lored. 3$at makes t$em to decide to start t$eir own business rat$er t$an to do 'obs. ($ere are several determinant variables t$at evaluate a graduate intent towards entre.reneurs$i.. ($ese are 5ersonal values and c$aracteristics4 C$ild$ood environment and role model4 =ducation4 Age4 =2.erience4 /arket knowledge4 3ork $istor%4 ?overnment .olic%. 3e took #ollowing #actors to be e2.lored in de.t$ #or t$e .ur.ose o# conducting researc$4 1nowledge 4 Attitude4 Role /odel. In t$e #ollowing stud% 9uestionnaires were used to gat$er data. 3e received 151 res.onses out o# 1 , 9uestionnaires dis.atc$ed to di##erent universities in Islamabad #or data collection.

INTRODUCTION
Entrepreneurship has long been considered a significant factor for socioeconomic growth and development because it provides millions of job opportunities, offers a variety of consumer goods and services, and generally increases national prosperity and competitiveness (Zahra, 1999). n recent years, a wave of interest in entrepreneurship has touched almost every country in the world because of increasing global competition based on agility, creativity and innovation. !he increased interest in entrepreneurship can also be attributed to the changing structure of the western economy, the trend to downsi"e large companies, changing business patterns, and developing mar#et economies in $hina, ndia, and Eastern Europe (%ynes, 199&). ($ere is no universal de#inition o# entre.reneurs$i. and sc$olars> view o# t$e to.ic $as c$anged considerabl% since "c$um.eter 61*347 de#ined it #or t$e #irst time. -owever now it $as become basis #or a w$ole new #ield o# stud%. And di##erent institutes in di##erent .arts o# t$e world o##er di##erent modules4 courses4 and training .rograms targeting t$is segment o# studies. C$oosing a rig$t career is t$e most im.ortant decision in some one>s li#e4 es.eciall% w$en %ou are taking initiative on %our own w$ere t$ere are t$ousands o# risks involved in terms o# mone%4 decision making4 and cut t$roat com.etition. =ntre.reneur is t$e word derived #rom )renc$ language word enter.rise4 means a .erson w$o undertakes t$e commercial venture according to o2#ord dictionar%.. =ntre.reneurs$i. education .rovides students motivation4 knowledge4 and skills essential #or launc$ing a success#ul venture com.an% 6C$o4 1** 7. <evert$eless4 t$e e2tent o# entre.reneurs$i. education b% countr% di##ers according to eac$ countr%>s uni9ue cultural conte2t 6Lee and 5eterson4 2,,,7. /ost researc$ about t$e decision to start a business includes background or .redecessor #actors underl%ing t$e entre.reneurial decision. Included among t$ose antecedent #actors is t$e in#luence o# role models on t$e .otential entre.reneur>s t$oug$t .rocess. :usiness owners $ave t$e o..ortunit% to s$are t$eir wisdom and .ractical knowledge wit$ t$e learner. :% including t$eir c$ildren in t$eir #irm4 business owners .rovide t$e o..ortunit% to gain entre.reneurial knowledge t$at will become valuable in #uture business start@u.s 6"te.$ens et al.4 2,,!7. 0rucker 61* 57 called entre.reneurs$i. an Ainnovative act4 w$ic$ includes endowing e2isting resources #or new wealt$@.roducing ca.acit%.B 6?artner 1* 57 described it as t$e Acreation o# a new organi8ation.B It is im.ortant to note4 $owever4 t$at entre.reneurs$i.4 a .rimar% source o# innovation4 ma% involve t$e develo.ment o# new visions and business met$ods #or establis$ed com.anies as well as t$e creation o# new organi8ations 6Carnier4 1**!7. ($ere#ore4 entre.reneurs$i. can be a..lied to all kinds o# organi8ations including non@.ro#it institutions. Alt$oug$ man% studies assert t$at entre.reneurs are di##erent #rom nonCentre.reneurs4 t$ere is no uni#ied de#inition descri.tion o# entre.reneurs. Instead4 sc$olars $ave develo.ed various de#initions o# entre.reneurs 6:rock$aus41* ,7. Doungsters are more energetic and ent$usiastic. ($e% are usuall% innovators and risk takers4 t$e% want to take lead in an% given set@u.. "o as our to.ic suggests #res$ graduates !

are more like to take initiative on t$eir own to kick o## new businesses and entering into t$e market as entre.reneurs. )actors t$at in#luence intentions entering entre.reneurial market de.end u.on di##erent situations. ?artner 61* 57 attem.ted to #ind di##erences in .ersonalit% and background between entre.reneurs and non@entre.reneursEnamel%4 t$at entre.reneurs are cultivated b% cultural4 economic4 social4 .olitical4 and educational backgrounds t$at are #undamentall% di##erent #rom t$ose o# non@entre.reneurs and t$at eac$ entre.reneur $as $isF$er uni9ue motivation4 goals4 and talents #or venture creation according to $isF$er uni9ue background. 6($andi4 "$arma4 2,,47 e2.lains t$e #ew #actors in#luencing decision o# a graduate to be a entre.reneur knowledge4 skills4 attitude and e2.erience. ?reene and "aridakis 62,,37e2amined graduate entre.reneurs$i. over a #our@%ear .eriod between 1*** and 2,,34 and #ound t$at sel#@em.lo%ment rate increased steadil% as #res$ graduates built u. labour market e2.erience. ($e researc$ identi#ied various #actors t$at in#luence graduate entre.reneurs$i.. In 5ersonal c$aracteristics t$e ?raduates t$at are older4 male and $ave .arents wit$ .rior e2.erience o# entre.reneurs$i. are most likel% to become graduate entre.reneurs. ($e researc$4 $owever4 did not #ind statisticall% signi#icant di##erences between t$e social class background or t$e et$nicit% o# t$e em.lo%ed and t$e sel#@em.lo%ed graduates. In "kills t$e Com.arison between graduate entre.reneurs 62,,37 and em.lo%ed graduates in t$e Class o# >** data set reveals t$at bot$ grou.s received muc$ t$e same t%.e o# skills develo.ment w$ilst in $ig$er education. )urt$ermore4 amongst t$e current graduate entre.reneurs4 t$e skills t$e% develo.ed in $ig$er education $ad made no di##erence to c$oosing sel#@em.lo%ment. ($e researc$4 $owever4 #ound t$at entre.reneurial skills learnt during $ig$er education do a..ear to $ave a long run im.act on #uture entre.reneurial intentions. In Attitudes4 ?reene and "aridakis 62,,37 re.orted t$at entre.reneurs are most likel% to see t$emselves as being e2tremel% ambitious. 3$en asked about t$eir long term values4 t$e% .lace less em.$asis on career develo.ment and #riends com.ared to t$e em.lo%ed4 and do not seem overl% concerned wit$ #inancial issues des.ite t$e initial attraction o# entre.reneurs$i. being t$e .ossibilit% o# an attractive salar%. "imilarl%4 earlier researc$ b% Rae and 3oodier 62,,!7 re.orted t$at graduates w$o $ave embarked success#ull% on sel#@em.lo%ment tend to dis.la% $ig$ career commitment4 intrinsic motivation and single mindedness.)indings #rom t$e ?reene and "aridakis 62,,37 re.ort suggested t$at t$e graduate entre.reneurs in t$e Class o# >** stud% tend to be motivated b% non@#inancial #actors. In #act4 com.ared to t$e em.lo%ed4 #our %ears a#ter graduation4 graduate entre.reneurs re.orted lower income levels but $ig$er levels o# satis#action. Alt$oug$ t$ere is a minorit% w$o $ave done well economicall%4 t$e ma'orit% o# graduate entre.reneurs are #ound to be relativel% .oor but $a..%."ources o# su..ort ?reene and "aridakis62,,37 re.orted t$at t$e most likel% sources o# advice and guidance #or graduate entre.reneurs are in#ormal sources suc$ as #amil%4 social networks and work colleagues. Com.ared to t$e graduate em.lo%ees4 entre.reneurs were more likel% to make use o# academics4 but less likel% to make use o# t$eir careers service w$ilst at universit% and less likel% to make use o# careers .ublications and recruitment agencies. 7

CONTRIBUTION
($is researc$ will $el. to understand t$e intentions o# graduates t$at w$at makes t$em to acce.t t$e c$allenging task o# being a ca.italist or an entre.reneur. 3$at risks are involved w$en t$e% decide to start@u. t$eir own business. ($is researc$ will $el. graduates o# di##erent #ields understand t$e 5ros and Cons o# entre.reneurs$i.. ($is stud% will also contribute b% $el.ing t$e graduates #or caste t$eir #uture .lans #or entre.reneurs$i. and $ow s$ould t$e% .lan and a..roac$ eac$ ste.. ($is .a.er will be o# s.ecial interest to researc$ers w$o want to conduct an% kind o# investigation on Gintentions o# #res$ graduates #or #orming an enter.rise>. ($is researc$ will cater t$e .roblems o# t$ose students w$o $ave recentl% com.leted t$eir studies and interested to #orm new venture or want to select t$eir career. ($is researc$ .a.er will also .rovide #acts and #igures based on dee. and t$oroug$ researc$ to t$ose w$o want to com.are t$e salaried based 'obs wit$ t$at o# #orming t$eir own business. ($is .a.er mig$t $el. government o##icials i.e. /inistr% o# "mall and /edium =nter.rise4 to #orm or en$ance t$eir .olicies according to t$e trend in #orming new ventures.

*ITERATURE RE+IE,
)ollowing is a ver% brie# review o# some #indings on #actors in#luencing entre.reneurs$i. and some work done on entre.reneurs$i. and tertiar% education. <eel% 62,,37 .resented G)ive (enets o# =ntre.reneurs$i.>. "ome as.ects on $is #irst tenet suggested items #or t$e 9uestionnaire and #or t$e anal%sis. ".eci#icall%4 <eel% 62,,37 .osited t$at entre.reneurial tendencies are in#luenced b% a number o# #actors ($andi4 "$arma 62,,474 includingH 5ersonal values and c$aracteristics C =ntre.reneurs tend to be ac$ievement@oriented4 en'o% taking res.onsibilit% #or .ro'ects and decisions and $ate work involving re.etitive tasks. ($e% welcome c$ange4 regarding it as a source o# o..ortunit%. ($e% are #le2ible4 individualistic and o..ortunistic. C$ild$ood environment and role models C A dis.ro.ortionatel% large .ercentage o# entre.reneurs $ave sel#@em.lo%ed or entre.reneurial .arents 6es.eciall% #at$ers7. Also4 .arents w$o encouraged inde.endence4 ac$ievement and res.onsibilit% tended to instil t$e desirabilit% o# entre.reneurial .ursuits in t$eir c$ildren. A.art #rom .arents4 siblings4 relatives and ot$er entre.reneurs were also im.ortant in#luences4 es.eciall% w$ere t$e% .la%ed a mentoring role during and a#ter t$e launc$ o# t$e business. =ducation C =ntre.reneurs tend to be less educated t$an t$e general .o.ulation4 t$oug$ t$is is b% no means t$e Gnorm>. ($oug$ <eel% #elt t$at Ga #ormal education is b% no means necessar%>4 education was im.ortant #or success#ul entre.reneurs$i.4 #or it $el.s entre.reneurs deal wit$ t$e c$allenges and obstacles encountered along t$e wa%. Age C =ntre.reneurial careers were .ursued between t$e ages o# 22 and 45. <eel% said t$at t$e e2ce.tions re9uired Ga degree o# e2.erience4 #inancial backing and s$eer energ% not o#ten #ound outside t$is grou.>4 $e adds t$at t$ere are Gmilestone> ages C 254 3,4 354 4, and 45 C at w$ic$ entre.reneurs are most likel% to embark on t$eir #irst endeavour. =2.erience C :% a..l%ing e2.erience and insig$ts #rom .revious ventures to new ones4 some entre.reneurs become serial entre.reneurs4 launc$ing or bu%ing a number o# businesses4 t$ereb% $oning t$eir entre.reneurial skills. /arket knowledge C A working knowledge o# t$e market enables entre.reneurs to G$it t$e ground running>. 3ork $istor% C <ascent entre.reneurs are ver% o#ten dissatis#ied wit$ .aid em.lo%ment. -owever4 in t$eir own ventures4 t$e% use t$e e2.erience gained in #inance4 marketing4 distribution and .roductFservice develo.ment. ?overnment .olic% C ($is can be .roactive b% .roviding entre.reneurial su..orting activities and #unding4 as well as encouraging commercialisation o# researc$ in universities and government #unded laboratories. Iane ?ut$rie4 managing editor o# t$e 1ansas Cit% "mall :usiness /ont$l%4 believed t$at most entre.reneurs s$ared a number o# .articular drivers. "$e cited several Gdrivers t$at #uel entre.reneurs>4 including inde.endence4 risk taking4 ego4 vision4 instinct4 energ%4 lure o# wealt$4 initiative4 control4 c$allenges4 .assion and #amil% tradition. "aras 0. "arasvat$% 62,,174 a :usiness 5ro#essor at ;niversit% o# 3as$ington4 acknowledged t$at Gt$ere is somet$ing di##erent about entre.reneurs. ($e% t$ink a *

.articular wa% or t$ere>s somet$ing about t$e% wa% t$e% a..roac$ .roblems>. "$e set out to discover c$aracteristics4 $abits4 and be$aviours t$at make entre.reneurs tick. )or $er stud%4 entitled 3$at /akes =ntre.reneurs =ntre.reneurial4 s$e met wit$ 25 #ounders o# com.anies wit$ revenues between J2,, million and J!.5 billion. "$e #ound t$at entre.reneurs were #le2ible in t$eir t$inking and creative ($andi4 "$arma 62,,47. ($andi4 "$arma 62,,47 collegial discussions at t$e Australian ?raduate "c$ool o# =ntre.reneurs$i.4 "winburne ;niversit% o# (ec$nolog% intimated t$at certain #actors eit$er .ull or .us$ one towards entre.reneurs$i.. ($e G.ull> #actors include management e2.erience4 #amil% $istor% o# entre.reneurs$i.4 .rior sel#@em.lo%ment4 and #unctional skills suc$ as #inanced and marketing. G5us$> #actors include being unem.lo%ed. =ducation and motivation could be eit$er a .ull or .us$ #actor. 3$en stud%ing t$e entre.reneurial c$aracteristics o# undergraduate students in a "out$ A#rican ;niversit%4 Louw et al. 61**77 #ound t$atH Awareness o# t$e im.ortance o# entre.reneurs$i. was $ig$er among t$ird %ear :usiness /anagement res.ondent. Awareness o# t$e im.ortance o# entre.reneurs$i. was $ig$er among :usiness /anagement. ($ere was a tendenc% towards risk aversion des.ite t$e im.ortance o# risk taking in entre.reneurial activities. ?ender o# res.ondent did not a##ect res.onses. Researc$ b% 0rnovsek and ?las 62,,17 at a "lovenian ;niversit% s$owed t$atH ?raduate students in /aster o# "cience .rogramme in entre.reneurs$i.4 rat$er t$an t$e /:A graduates4 were more likel% on average to start u. a new #irm. ?raduate students wit$ longer working e2.erience are on average more likel% to start u. a new #irm. ?raduate students o# entre.reneurs$i. and /:A students do not di##er on sel#@.erceived entre.reneurial sel#@e##icac%. Lankard 61**17 made a case t$at educational institutions> curricula s$ould include tec$ni9ues #or $el.ing students develo. entre.reneurial skills. -e $%.ot$esised t$at vocational education could #oster a number o# entre.reneurial c$aracteristics suc$ as being action oriented .eo.le and believing t$at working smart and $ard is t$e ke% to success. -e also said t$at entre.reneurs $ad a $istor% o# being enter.rising4 earning mone% t$roug$ bab%sitting4 .a.er routes etc. =ntre.reneurs also o#ten came #rom #amilies w$ere one or bot$ .arents $ave owned t$eir business. In order to .roduce entre.reneurial graduates4 Lan%ard made some recommendations #or curriculum c$anges in terms o# vocational and tec$nical education in t$e ;". -e advocated em.$asis on business .lanning4 com.uter a..lications4 managing ca.italFcas$ #low4 marketing skills and accounting skillsK .romotion o# t$e involvement o# vocational .rogramme instructors in an% business management instruction initiatives across all .rogramme areasK and em.$asis on o..ortunities #or entre.reneurs$i. education strategies including t$e s.ecial needs o# targeted .o.ulations and t$e .romotion o# vocational e9uit% #or all students. C$o 61** 7 also maintained t$at i# entre.reneurial talent were innate and could not be built u. .ostnatall%4 entre.reneurs$i. education would lose its signi#icance and t$at entre.reneurial talent s$ould t$ere#ore not be .erceived as innate. )urt$ermore4 C$o>s 61** 7 stud% reveals t$at entre.reneurs$i. education .romotes t$e intention o# venture creation because entre.reneurs$i.@related knowledge and skills stimulate an individual>s motivation to create a new venture. 1,

"everal .revious studies indicated t$at intentions4 including entre.reneurial intentions4 are one o# t$e best .redictor o# .lanned be$avior. 1rueger et al. 62,,,7 =ntre.reneurs$i. /gt. 62,,!7 #ound t$at .ersonal and situational variables a##ect entre.reneurial attitudes and motivation. Role models a##ect entre.reneurial intentions b% c$anging attitudes and belie#s. =2ogenous in#luences4 suc$ as .erce.tions o# resource availabilit%4 can c$ange intentions to launc$ a business. Intentions e2.lain w$% some entre.reneurs decide to start a business be#ore t$e% scan #or o..ortunities. 1rueger et al. 62,,,7 asserted t$at intentions .redict entre.reneurs$i. better t$an .ersonalit% traits and situations and t$at Aa strong intention to start a business s$ould result in an eventual attem.t4 even i# immediate circumstances... ma% dictate a long dela%B. ($e% concluded t$at role models could a##ect entre.reneurial intentions i# t$e% c$anged attitudes and belie#s about a .erson>s .erceived abilit% to be success#ul in a new venture. 1rueger 62,,,7 .osited t$at intentions were a #unction o# .erceived desirabilit% and #easibilit% o# an act4 and asserted t$at .erce.tions related to desirabilit% are learned. 0ouglas and "$e.$erd 62,,17 suggested t$at risk4 need #or inde.endence4 and income .otential are im.ortant #actors a##ecting career decisions. Risk and inde.endence are es.eciall% im.ortant #or t$ose intending entre.reneurial careers. ($e% #ound t$at income was not a determining #actor leading toward t$e intention to start a business. ?oals4 motivations4 and intentions are intertwined in .redicting t$e entre.reneurial decision. 1uratko4 -ornsb%4 and <a##8iger 61**77 suggested t$at individuals starting businesses $ave .ersonall% relevant goal sets to w$ic$ t$e% as.ire. =2trinsic goals t$at concentrate on wealt$ and .ersonal income and intrinsic goals4 suc$ as recognition4 c$allenge4 autonom%4 #amil% securit%4 and e2citement were im.ortant #or sustaining entre.reneurs$i.. =ntre.reneurs$i.4 along wit$ strong intent4 is t$e two basic re9uirements #or success#ul venture creation. Launc$ing ventures wit$out relevant knowledge is reckless even w$en t$ere is strong intention #or venture creation. ($us4 a..ro.riate entre.reneurs$i. education is a .recondition #or bringing u. t$e rig$t .erce.tion and intention about entre.reneurs$i. Lee4 C$ang4 Lim 62,,57. ".eci#icall% in terms o# graduate start@u. su..ort4 t$e <C?= re.ort #ew use#ul studies wit$in a ;1 conte2t w$ic$ Ae2.licitl% com.are and contrast t$e t%.es o# su..ort used b% graduates engaging wit$ entre.reneurial activitiesB 6I":A Consortium4 2,,47. ($ere is a lack4 t$e% suggest4 o# com.arative studies relating to advice and consultanc%4 business su..ort4 and #inancial su..ort4 #or graduate entre.reneurs. An e2ce.tion is (acke% and 5err%man 61***7 w$o suggest4 #or t$eir researc$4 t$at graduates rel% on a variet% o# sources #or su..ort and business4 bot$ wit$in and outside t$e universit% and t$at t$e% value t$e in#ormal more t$an t$e #ormal. A somew$at similar .icture is evident in relation to t$e wider issue o# enter.rise education and training. -annon4 Collins and "mit$ 62,,574 argue t$at current su..l% reveals Acon#usion about t$e .ur.oses and im.act o# entre.reneurs$i. educationB4 w$ilst t$e <C?= acknowledge t$at entre.reneurs$i. education and training is c$aracteri8ed b% ambiguit% and uncertaint% about w$at and $ow enter.rise s$ould be taug$t. Again4 e2ce.tions do e2ist. -enr% et al. 62,,374 on t$e basis o# a rigorous stud% tracking t$e .rogress4 .ost .rogramme4 o# 35 as.iring entre.reneurs over a t$ree %ear .eriod4 conclude t$at suc$ .rogrammes can be e##ective and %ield signi#icant bene#its #or as.iring entre.reneurs. It is t$e use o# control grou.s and longitudinal designs4 t$e% suggest4 w$ic$ ensures a level and 9ualit% o# evaluation t$at can o##er a real contribution to .olic% develo.ment. 11

SI NIFICANCE OF STUD($e .ur.ose o# t$is researc$ is to e2.lore and anal%8e criticall% t$e im.ortance o# entre.reneurs$i. in t$e broad conte2t o# t$e market4 w$at are t$e ke% #actors w$ic$ a##ect t$e decision o# #res$ graduates to come into t$is .articular #ield rat$er t$an going #or a normal salaried 'ob. =stablis$ment o# enter.rise in a societ% is ver% use#ul in man% di##erent .ers.ectives i.e. it contributes a lot in econom% o# a countr% to make it more stable4 t$en it .romotes t$e $ealt$% com.etition wit$ in t$e market4 last but not t$e least it $el.s in %ou in attaining and retaining t$e knowledge workers4 it mig$t also be $el.#ul to a societ% in a wa% t$at it gives %ou brilliant minds and big business t%coons like :ill ?ates4 ($omas I. 3atson4 Iams$ed'i (ata4 :aldev 0as :irla4 3illiam 6:ill7 -ewlett4 0avid 60ave7 5ackard and /ic$ael 0ell etc. Are entre.reneurs born or are t$e% groomedL C$o 61** 7 mentioned t$at i# entre.reneurial talent were innate and could not be built u. e2ternall% or nurtured4 entre.reneurs$i. education would lose its signi#icance and t$at entre.reneurial talent s$ould t$ere#ore not be .erceived as innate. )urt$ermore4 C$o>s 61** 7 stud% reveals t$at entre.reneurs$i. education .romotes t$e intention o# venture creation because entre.reneurs$i.@related knowledge and skills stimulate an individual>s motivation to create a new venture. Lee and 5eterson 62,,,7 state t$at even t$ose individuals w$o are motivated b% suc$ #actors as #inancial rewards4 ac$ievement4 social4 career4 and individual #ul#ilment need a national culture t$at su..orts and encourages entre.reneurial activit%. 6Lee4 C$ang et al.4 2,,57 =ntre.reneurs$i.4 along wit$ strong intent4 is t$e two basic re9uirements #or success#ul venture creation. Launc$ing ventures wit$out relevant knowledge is reckless even w$en t$ere is strong intention #or venture creation. ($us4 a..ro.riate entre.reneurs$i. education is a .recondition #or bringing u. t$e rig$t .erce.tion and intention about entre.reneurs$i..

12

OB.ECTI+ES OF STUD($e main .ur.ose o# t$e researc$ is to e2.lore and criticall% e2amine in a descri.tive and anal%tical manner t$e relevance o# #res$ graduates> intent on becoming entre.reneurs. a7 b7 c7 d7 (o e2.lore4 stud% and anal%8e criticall% t$e #actors4 .$iloso.$% and decision .attern in#luencing a student w$en $e or s$e $olds graduate degree. (o e2amine and e2.lore t$e role o# t$e culture4 #amil% $istor%4 skills4 #inancial im.lication in t$e wa% o# deciding $is or $er career w$en $e or s$e is entering t$e 'ob market. (o stud% and e2amine t$e im.act o# #res$ ?raduates intent on start@u. a new venture. (o discuss criticall% t$e environment #orecasted e##ect o# $is or $er carrier decision.

THEORETICA* FRAME,OR/
A#ter com.leting a literature surve% and de#ining .roblem a t$eoretical #ramework is develo.ed a t$eoretical #ramework is a conce.tual model o# $ow one t$eori8es or makes logical sense o# t$e relations$i.s among t$e several #actors t$at $ave been identi#ied as im.ortant to t$e .roblem. It o##ers t$e conce.tual #oundation to .roceed wit$ t$e researc$ and it is none ot$er t$an identi#%ing t$e network o# relations$i.s among t$e variables considered im.ortant to t$e stud% o# an% given .roblem situation. ($e t$eoretical #ramework is t$e #oundation on w$ic$ t$e entire researc$ .ro'ect is based. It is a logicall% develo.ed4 described and elaborated network o# associations among t$e variables deemed relevant to t$e .roblem situation and identi#ied t$roug$ suc$ .rocesses as interviews4 observations and literature surve%. =2.erience and intuition also guide in develo.ing t$e t$eoretical #ramework. A good t$eoretical #ramework identi#ies and labels t$e im.ortant variables in t$e situation t$at are relevant to t$e .roblem de#ined. It logicall% describes t$e interconnections among t$ese variables. ($e relations$i.s among t$e inde.endent variables t$e de.endent variables and i# a..licable t$e moderating and intervening variables are elaborated.

13

+ARIAB*ES
0e.endent +ariables Inde.endent +ariable

1nowledge Attitude Role /odel

=ntre.reneur Actuali8ation

HYPOTHESIS
($e ke% 9uestion being .osed or $%.ot$esis tested in t$e t$esisK in t$is stud% we are going to #rame t$e #ollowing $%.ot$esesH H01 It is e2.ected t$at #res$ graduates will $ave better understanding o# t$e im.ortance o# entre.reneurs$i. education. H21 It is e2.ected t$at #res$ ?raduates based on t$eir skills will $ave .ositive attitude towards starting@u. t$eir own business. H31 It is e2.ected t$at role model will $ave a greater in#luence on intentions o# #res$ graduates to start u. business venture.

14

METHODO*O Popu$!tion ($is is a descri.tive4 9uantitative and $%.ot$esis testing stud% conducted on t$e Aintent o# entre.reneurs$i. in #res$ graduatesB. A total o# 1 , res.ondents were contacted and 151 res.onses were received. ($e rate o# res.onse was 3. M. ($e sam.le was taken #rom t$e ;niversities o# Islamabad suc$ as Islamic International4 I9ra ;niversit%4 Comsats. Me!sure)ent In t$is stud% we #ocused on t$e actuali8ation o# entre.reneurs$i.4 including t$e #ollowing #acts4 1nowledge4 Attitude4 Role /odel. ($ese conce.ts were measured as #ollowsH /no'$e"(e1 (o measure t$is we re#erred to 6?artner4 1* 57 and used #ive items #or our 9uestionnaire. In t$is scale we used rating o.tions categori8ed as 5N strongl% agree 4N agree 3Nneutral 2Ndisagree 1N strongl% disagree. Res.ondents scored 0.721 alpha on this
motive.

Attitu"e1 (o measure t$is we re#erred to 6A'8en O /adden4 1* !7 and used #ive items #or our 9uestionnaire. In t$is scale we used rating o.tions categori8ed as 5N strongl% agree 4N agree 3Nneutral 2Ndisagree 1N strongl% disagree. Res.ondents scored 45674 !$ph! on this )oti8e5 Ro$e Mo"e$1 (o measure t$is we re#erred to 6"c$erer et al@"c$erer4 Adams4 and 3iebe4 1* *7 and used #ive items #or our 9uestionnaire. In t$is scale we used rating o.tions categori8ed as 5N strongl% agree 4N agree 3Nneutral 2Ndisagree 1N strongl% disagree. Res.ondents scored 45640 !$ph! on this )oti8e5

15

DATA ANA*-SIS
A#ter data collection and coding4 t$e a..ro.riate data anal%tical tec$ni9ues including descri.tive and multivariate anal%sis will be carried out kee.ing in view t$e ob'ectives o# stud% b% using latest available version o# "5"".
Motive Knowledge Attitude Role Model Number o !uestionnaires 151 151 151 "ronba#h$s %lpha 0.721 0.740 0.701

According to <unnall% 61*7*74 o.erationall%4 reliabilit% is ade9uate in t$e earl% stages o# develo.ing a measure i# ,.7, or $ig$er is attained.

Test of Re$i!#i$it9 of D!t!

/no'$e"(e-T!#$e
"ase Pro#essin& Summar'
N Cases Valid Excluded a! "otal 151 0 151 % 100.0 .0 100.0

A #ist wise deletion $ased on all %a&ia$les in t'e (&ocedu&e.

(eliabilit' Statisti#s
C&on$ac')s Al('a .721 N o* +te,s 5

1!

T)Test Table
One)Sample Statisti#s
N K1 K2 K1 K4 K5 151 151 151 151 151 Mean 4.21/5 4.1457 4.0227 1.70/0 4.1/54 -td. .e%iation ./012/ ./15/4 ./1210 1.17524 ./15/2 -td. E&&o& Mean .07025 .00/02 .0000/ .02504 .00/02

One)Sample Test
"est Value 3 0 25% Con*idence +nte&%al o* t'e .i**e&ence t 00.04/ 00.24/ 01.1/0 1/.777 01.522 d* 150 150 150 150 150 -ig. 24tailed! .000 .000 .000 .000 .000 Mean .i**e&ence 4.21/54 4.14570 4.02272 1.70/01 4.1/541 #owe& 4.0727 4.0111 1.2010 1.5120 4.0510 5((e& 4.1574 4.2/01 4.2245 1./270 4.112/

K1 K2 K1 K4 K5

*no+le,&e)-ar "harts

*1

50

40

Per#ent

10

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

*1

17

*2

50

40

Per#ent

10

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

*2

*.

50

40

Per#ent

10

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

*.

*/

40

10

Per#ent

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

*/

*0

50

40

Per#ent

10

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

*0

1*

Attitu"e-T!#$e
"ase Pro#essin& Summar'
N Cases Valid Excluded a! "otal 151 0 151 % 100.0 .0 100.0

A #ist wise deletion $ased on all %a&ia$les in t'e (&ocedu&e. (eliabilit' Statisti#s
C&on$ac')s Al('a .740

N o* +te,s 5

T-Test
One)Sample Statisti#s
N A1 A2 A1 A4 A5 151 151 151 151 151 Mean 4.0122 1.2071 1.1172 1.1207 1.1177 -td. .e%iation 1.00752 1.2147/ 1.1027/ 1.0252/ 1.05127 -td. E&&o& Mean .0/0/7 .1004/ .02011 .0/211 .0/555

One)Sample Test
"est Value 3 0 25% Con*idence +nte&%al o* t'e .i**e&ence t 40.271 1/.//4 10.71/ 1/.041 12.015 d* 150 150 150 150 150 -ig. 24tailed! .000 .000 .000 .000 .000 Mean .i**e&ence 4.012/7 1.2072/ 1.117// 1.12071 1.11775 #owe& 1./4/2 1.70/7 1.1124 1.2140 1.10/7 5((e& 4.1215 4.105/ 1.4201 1.500/ 1.500/

A1 A2 A1 A4 A5

2,

Attitu"e B!r-Ch!rts

%1

50

40

Per#ent

10

20

10

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%1

%2

50

40

Per#ent

10

20

10

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%2

21

%.

40

10

Per#ent

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

%.

%/

40

10

Per#ent

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

%/

22

%0

50

40

Per#ent

10

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

%0

23

Ro$e-Mo"e$ T!#$e
"ase Pro#essin& Summar'
N Cases Valid Excluded a! "otal 151 0 151 % 100.0 .0 100.0

A #ist wise deletion $ased on all %a&ia$les in t'e (&ocedu&e.

(eliabilit' Statisti#s
C&on$ac')s Al('a .701 N o* +te,s 5

T-Test
One)Sample Statisti#s
N R1 R2 R1 R4 R5 151 151 151 151 151 Mean 1.0//7 4.0205 1.2272 1.7151 1./541 -td. .e%iation 1.02102 .71//2 .//702 .22101 .//240 -td. E&&o& Mean .0/102 .00011 .07224 .07500 .071/1

One)Sample Test
"est Value 3 0 25% Con*idence +nte&%al o* t'e .i**e&ence t 44.125 00.201 54.101 42./02 51.075 d* 150 150 150 150 150 -ig. 24tailed! .000 .000 .000 .000 .000 Mean .i**e&ence 1.0//74 4.02042 1.22715 1.71510 1./5410 #owe& 1.5240 1.2077 1.7/44 1.5/02 1.7124 5((e& 1./522 4.1451 4.0022 1.//11 1.2202

R1 R2 R1 R4 R5

24

Ro$e Mo"e$ B!r-Ch!rt

(1

40

10

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20

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(1

(2

00

50

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10

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(2

25

(.

00

50

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10

20

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(.

(/

50

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10

20

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(/

2!

(0

50

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10

20

10

0 -t&ongle .isag&ee .isag&ee Neit'e& ag&ee no& disag&ee Ag&eed -t&ongl6 Ag&eed

(0

27

1is#ussion
($e .resent stud% is based on t$eoretical #ramework on Intent o# entre.reneurs$i. in #res$ graduates. It drew 151 content anal%8ed wit$ intent o# entre.reneurs$i. o# #res$ graduates wit$ 3 variables. ($ese were 1nowledge4 Attitude4 Role@model. All variables $ave been com.ared wit$ one anot$er wit$ eac$ o# t$e res.ondent. H01 In .resent stud% our $%.ot$esis on 1nowledge was con#ormed and knowledge was establis$ed to be a strong #actor in venture Creation. ($e mean in table 1 s$ows t$at graduates agreed t$at knowledge contributes towards venture creation. Res.ondents scored 45620 !$ph! on this )oti8e5 H21 In .resent stud% our $%.ot$esis on Attitude was con#ormed and attitude was establis$ed to be a strong #actor in venture Creation. ($e mean in table 2 s$ows t$at graduates agreed t$at attitude contributes towards venture creation. Res.ondents scored 45674 !$ph! on this )oti8e5 H31 In .resent stud% our $%.ot$esis on Role@model was con#ormed and role@model was establis$ed to be a strong #actor towards venture Creation. ($e mean in table 3 s$ows t$at graduates agreed t$at role model contributes towards venture creation. Res.ondents scored 45640 !$ph! on this )oti8e5

CONC*USION
A#ter a..l%ing (@test we reac$ed to t$e #ollowing conclusion t$at our #irst $%.ot$esis on knowledge was con#irmed and t$at knowledge was establis$ed to be a strong #actor contributing towards venture creation. ($e mean in table 1 s$ows t$at graduates agreed t$at knowledge contributes towards venture creation. &ur second $%.ot$esis on Attitude was con#irmed and it was establis$ed to be a vital #actor in starting u. own business. ($e mean in table 2 s$ows t$at graduates agreed t$at attitude contributes towards venture creation. &ur t$ird $%.ot$esis on Role@model was con#irmed and it was establis$ed to be a strong #actor in venture creation. ($e mean in table 3 s$ows t$at graduates agreed t$at role model contributes towards venture creation. At t$e end on t$e bases o# t$is researc$ we can sa% t$at t$ere is a relations$i. between =ntre.reneurial actuali8ation and 1nowledge4 Attitude4 Role@model. In t$e lig$t o# t$is stud% we can sa% t$at 1nowledge4 Attitude4 Role@model $ave .ositive .erce.tion and relation towards =ntre.reneurial actuali8ation.

Referen%e
.&no%se78 M. 9 :las8 M. 2001!. Ent&e(&eneu&ial +ntentions o* Nascent Ent&e(&eneu&s; A Case o* -tudents in Ent&e(&eneu&s'i( and M<A =&og&a,s8 a (a(e& (& Con*e&ence +nte&nationalising Ent&e(&eneu&s'i( Education and "&aining8 K&uege& =a&78 -out' A*&ica. Ma7i8 K. 1222!. Moti%ation *o& Ent&e(&eneu&s'i( A,ong Acade,ics. -,all <usiness +nstitute8 <usiness Resea&c' and .e%elo(,ent Cent&e8 "u&7u -c'ool o* Econo,ics and <usiness Ad,inist&ation. "u&7u8 >inland -ee 'tt(;??www.s$ae&.uca.edu?Resea&c'?1222?+C-<?22ics07/.'t, -a&aswat'68 -... 2001!. @'at Ma7es Ent&e(&eneu&s Ent&e(&eneu&ialA -eattle @A8 5-A;5ni%e&sit6 o* @as'ington -c'ool o* <usiness. "'andi8 B. 9 -'a&,a8 R. 2002!. M<A -tudents =e&ce(tions o* Ent&e(&eneu&ial -7ills; An Aust&alian -tud6 o* +ntentions and C((o&tunities *o& Actualisation. -elected =a(e&s *o& t'e 2002 -EAA+R >o&u,8 Kuala #u,(u&8 Mala6sia8 Ccto$e&. -ee also; 'tt(;??www.seaai&.in*o?(d*?a$st&act.(d* Autio8 E.8 Keele68 R.8 Klo*sten8 M.8 =a&7e&8 :. and Ba68 M. 2001!8 DEnt&e(&eneu&ial intent a,ong students in -candina%ia and in t'e 5-AE8 Ente&(&ise and +nno%ation Manage,ent -tudies8 Vol. 2 No. 28 ((. 145400 Bis&ic'8 R.8 Mic'ael8 =.8 9 -'e('e&d8 .. 2005!. Ent&e(&eneu&s'i( 0t' ed.!8 <oston8 MA. K&uege&8 N. 2000!. "'e cogniti%e in*&ast&uctu&e o* o((o&tunit6 e,e&gence. Ent&e(&eneu&s'i( "'eo&6 and =&actice8 24 1!8 5F24. K&uege&8 N.8 9 <&aGeal8 .. 1224!. Ent&e(&eneu&s'i( (otential and (otential ent&e(&eneu&s. Ent&e(&eneu&s'i( "'eo&6 and =&actice8 12 1!8 21F104. K&uege&8 N.8 Reill68 M.8 9 Ca&s&ud8 A. 2000!. Co,(eting ,odels o* ent&e(&eneu&ial intentions. Hou&nal o* <usiness Ventu&ing8 158 411F412.
2*

Ku&at7o ..8 9 Bodgetts8 R. 2004!. Ent&e(&eneu&s'i( 0t' ed.!. Mason8 C'io; "'o,(son -out'weste&n. Ku&at7o8 ..8 Bo&ns$68 H.8 9 Na**Gige&8 .. 1227!. An exa,ination o* owne&Is goals in sustaining ent&e(&eneu&s'i(. Hou&nal o* -,all <usiness Manage,ent8 15 1!8 24F11. Bis&ic'8 R.8 Mic'ael8 =.8 9 -'e('e&d8 .. 2005!. Ent&e(&eneu&s'i( 0t' ed.!8 <oston8 MA. K&uege&8 N. 2000!. "'e cogniti%e in*&ast&uctu&e o* o((o&tunit6 e,e&gence. Ent&e(&eneu&s'i( "'eo&6 and =&actice8 24 1!8 5F24. K&uege&8 N.8 9 <&aGeal8 .. 1224!. Ent&e(&eneu&s'i( (otential and (otential ent&e(&eneu&s. Ent&e(&eneu&s'i( "'eo&6 and =&actice8 12 1!8 21F104. K&uege&8 N.8 Reill68 M.8 9 Ca&s&ud8 A. 2000!. Co,(eting ,odels o* ent&e(&eneu&ial intentions. Hou&nal o* <usiness Ventu&ing8 158 411F412. Ku&at7o ..8 9 Bodgetts8 R. 2004!. Ent&e(&eneu&s'i( 0t' ed.!. Mason8 C'io; "'o,(son -out'weste&n. Ku&at7o8 ..8 Bo&ns$68 H.8 9 Na**Gige&8 .. 1227!. An exa,ination o* owne&Is goals in sustaining ent&e(&eneu&s'i(. Hou&nal o* -,all <usiness Manage,ent8 15 1!8 24F11. .&uc7e&8 =. >. 12/5. +nno%ation and ent&e(&eneu&s'i(. New Jo&7; Ba(e& 9 Row. :a&tne&8 @.<. 12/5. A conce(tual *&a,ewo&7 *o& desc&i$ing t'e ('eno,enon o* new %entu&e c&eation. Acade,6 o* Manage,ent Re%iew8 10; 020F700. #ee8 -.M. 9 =ete&son8 -. 2000. Cultu&e8 ent&e(&eneu&ial o&ientation8 and glo$al co,(etiti%eness. Hou&nal o* @o&ld <usiness8 15; 401F410.

3,

APPENDI:
APuestionnaireB Q17 3ould %ou .lease let us know w$ic$ age bracket %ou #all inL
17 27 37 47 2,@25 %ears 2!@3, %ears 31@35 %ears. 3!@4, %ears.

Q27 ?ender
17 27 /ale )emale

Q37 3$at is t$e $ig$est level o# %our educationL

17 Intermediate. 27 :ac$elor. 37 /asters. 47 /. 5$il. 57 5-0.

Q47 3$at is %our disci.line o# stud%L

17 :usiness /anagement 27 "ocial "ciences 37 =ngineering. 47 /edicine.

117 0o %ou agree t$at =ducation .romotes t$e intention o# venture creationL
617 "trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed.

127 0o %ou agree t$at knowledge stimulate an individual>s motivation to create a new ventureL
617 "trongl% disagree 627 0isagree 637 <eit$er agree nor disagree 31

647Agreed

657

"trongl% agreed.

137 0o %ou t$ink t$at entre.reneurs$i. education .la%s an e##ective role on venture creationL
617 "trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed.

147 0oes %our ;niversit% .la% a role to #oster entre.reneurial initiative among its studentsL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

157 0o %ou t$ink t$at availabilit% o# in#ormation is im.ediment t$at needs to be addressedL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

A17 0o %ou t$ink t$at attitude .la%s an im.ortant role in becoming sel#@ em.lo%ed.
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

A27 0o %ou agree t$at Con#idence $as an im.act on success#ul venture creationL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

32

A37 3ould %ou give .re#erence to venture creation over getting a IobL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed.

A47 0o %ou agree t$at ?raduates $ave attitude towards venture creation be#ore ?raduationL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

A57 0o %ou agree t$at ?raduates $ave an attitude towards venture creation to overcome #ailureL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

R0) 0o %ou agree t$at graduates w$o are encouraged to 'oin #amil%

business $ave .ositive intentions towards venture creationL

617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

R27 0o %ou agree t$at graduates w$o are taug$t $ow to manage business $ave better intentions towards +enture creationL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

R37 0o %ou agree t$at ?raduates w$o are told about t$e advantages and disadvantages o# business b% role models will carr% better intentions towards +enture creationL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

R47 0o %ou t$ink ?raduates w$o are discussed #amil% business will $ave better intentions towards +enture creationL
33

617"trongl% disagree 627 647Agreed 657

0isagree

637

<eit$er agree nor disagree

"trongl% agreed

R57 0o %ou agree t$at assum.tion o# #ollowing #amil% business will $ave im.act on graduates intentions towards +enture creationL
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree "trongl% agreed

34

-17 It is e2.ected t$at #res$ graduates will $ave better understanding o# t$e im.ortance o# entre.reneurs$i. education.
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree

"trongl% agreed

-27 It is e2.ected t$at #res$ ?raduates based on t$eir skills will $ave .ositive attitude towards starting@u. t$eir own business.
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree

"trongl% agreed

-37 It is e2.ected t$at role model will $ave a greater in#luence on intentions o# #res$ graduates to start u. business venture.
617"trongl% disagree 627 647Agreed 657 0isagree 637 <eit$er agree nor disagree

"trongl% agreed

35