Personality Characteristics And Entrepreneurial Capabilities: A Path To Success For Women-Led Businesses, Examined Via Covariance-Based Sem
Keywords:
Women entrepreneurship, Business success, Personality traits, Entrepreneurial competenciesAbstract
The global landscape of entrepreneurship increasingly recognizes the vital contributions of women, yet they often face unique challenges in establishing and growing their ventures. This study explores the critical pathways through which specific personality characteristics and entrepreneurial capabilities contribute to the business success of women entrepreneurs. Drawing upon the resource-based view (RBV) theory, which posits that distinctive internal resources are key to sustained competitive advantage, this research investigates how individual-level traits and competencies serve as valuable assets for female business owners. A quantitative approach was adopted, utilizing a survey administered to 450 women entrepreneurs. Data were analyzed using Covariance-Based Structural Equation Modeling (CB-SEM) via AMOS, a robust statistical technique suitable for examining complex relationships among latent constructs. Findings indicate that Conscientiousness and Openness to Experience among the Big Five personality traits significantly predict entrepreneurial success [7, 10]. Furthermore, innovation competency and strategic competency emerged as powerful drivers of business success [4, 6, 20]. The study highlights the critical interplay between dispositional traits and developed skills, suggesting that while certain personality characteristics provide a foundational advantage, deliberate cultivation of specific entrepreneurial capabilities is paramount for overcoming barriers and achieving sustainable business growth [1, 17]. Practical implications include tailored training and mentorship programs for women entrepreneurs, focusing on enhancing both psychological resilience and strategic skill development to bolster their ventures' long-term viability and success.
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ASEAN Entrepreneurship Journal (AEJ) | Vol 10 No 2; 20-31, 2024 | ISSN: 2637-0301.
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Copyright (c) 2024 Prof. Fatima Al-Mutairi, Dr. Lillian A. Nyambura
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