Running Successful Small Businesses in India: A Comparison Between Novice and Established Entrepreneurs

Authors: Nandana Priya Kamasani

Pages: 30-36

Abstract:

Entrepreneurs in this study are understood as individuals who create multiple opportunities where others do not, and who attempt to utilize those opportunities through various modes to making substantial profit. This is a comparative study and the aim is to find out the differences, if any, on tolerance for ambiguity and cognitive style among novice and established entrepreneurs. The sample for this study consisted of 31novice entrepreneurs and 31established entrepreneurs. The tools used for this study are The Ambiguity for Tolerance Scale, which is developed by Herman, Stevens, Bird, Mendenhall and Oddou (2009) and Cognitive Style Index, developed by Allinson and Hayes (2012). The data was analysed using an independent ‘t’test and Pearson product-moment correlation coefficient. Results of the study show that there are no significant differences in tolerance for ambiguity among novice and established entrepreneurs. However, there were significant differences in the cognitive style among novice and established entrepreneurs. There existed no relationship between tolerance for ambiguity and cognitive style among novice and established entrepreneurs. Implications of the study are discussed