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

Jean-Louis van Gelder, Reinout E. de Vries, Michael Frese, Jan-Peter Goutbeek
2007 Journal of Small Business Management  
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
more » ... hat 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.
doi:10.1111/j.1540-627x.2007.00219.x fatcat:j7u4d4q7bfhdhiz3ciim3qoesq