Failure Factors among Young Entrepreneurs in Higher Education Institution: A Study from Telkom University
DOI:
https://doi.org/10.21512/tw.v19i2.4721Keywords:
failure factors, young entrepreneurs, higher education institutionAbstract
The purpose of this research was to determine factors that caused the failure of young entrepreneurs in Telkom University among the participants of 2016-2017 competition and exhibition. This research applied a quantitative method with a descriptive and explorative research type. Techniques of collecting data were using questionnaires. This research used the nonprobability sampling method that was saturated sampling because of all members of the population of 116 respondents in this research. Data analysis was using Principal Component Analysis (PCA). The results show the five new factors causing the failure among young entrepreneurs in Telkom University who participate in the Business Plan Competition and Creative Market Exhibition in 2017, are: (1) improper asset and marketing management, (2) unqualified entrepreneurial characteristics, (3) unwell anticipation of capital and regulation pressure, (4) financial and non-financial failures, and (5) ignored by the owner.
Plum Analytics
References
Afrianto, D. (2016, 24 February). Dalam 5 tahun, UKM di Surabaya tumbuh 300%. Retrieved November 12th 2017 from https://economy.okezone.com/read/2016/02/24/320/1320538/dalam-5-tahun-ukm-di-surabayatumbuh-300.
Alma, B. (2010). Kewirausahaan untuk mahasiswa dan umum. Bandung: Alfabeta.
Ant. (2016, 2 February). Mahasiswa kian gandrung berbisnis. Retrieved November 11th 2017 from https://news.okezone.com/read/2016/02/02/65/1302870/mahasiswa-kian-gandrung-berbisnis.
Arasti, Z., Zandi, F., & Bahmani, N. (2014). Business failure factors in Iranian SMEs: Do successful and unsuccessful entrepreneurs have different viewpoints? Journal of Global Entrepreneurship Research, 4(1), 1-14.
Atsan, N. (2016). Failure experiences of entrepreneurs: Causes and learning outcomes. Procedia-Social and Behavioral Sciences, 235, 435-442. http://doi.org/10.1016/j.sbspro.2016.11.054.
Bolinger, A. R., & Brown, K. D. (2015). Entrepreneurial failure as a threshold concept: The effects of student experiences. Journal of Management Education, 39(4), 452-475. http://doi.org/10.1177/1052562914560794.
Canidio, A., & Legros, P. (2015). The value of entrepreneurial failures: Task allocation and career concerns. New York: Mimeo.
Comptables, E. (2004). Avoiding business failure a guide for SMEs October 2004. Retrieved from http://www.cpaireland.ie/docs/default-source/business-resource/fee---avoiding-businessfailure.pdf?sfvrsn=2.
Cope, J. (2010). Entrepreneurial learning from failure: An interpretative phenomenological analysis. Journal of Business Venturing, 26(6), 604-623. http://doi.org/10.1016/j.jbusvent.2010.06.002.
Ekonomi, J. P., & Ganesha, U. P. (2015). Analisis faktor penyebab kegagalan usaha penerima program mahasiswa wirausaha (PMW) di Universitas Pendidikan Ganesha (Undiksha) tahun 2013. Jurnal Pendidikan Ekonomi Undiksha, 5(1), 1-11.
Fatir, D. (2016). LDII Sulsel luncurkan UMKM Center. Retrieved on November 20th 2016 from http://www.antarasulsel.com/berita/73688/ldii-sulsel-luncurkan-umkm-center.
Hamidi, D. Y., Wennberg, K., & Berglund, H. (2008). Creativity in entrepreneurship education. Journal of Small Business and Enterprise Development, 15(2), 304-320. http://doi.org/10.1108/14626000810871691.
Hattab, H. W. (2014). Impact of entrepreneurship education on entrepreneurial intentions of university students in Egypt. The Journal of Entrepreneurship, 23(1), 1-18. http://doi.org/10.1177/0971355713513346.
Jack, S. L., & Anderson, A. R. (2006). Entrepreneurship education within the enterprise culture: producing reflective practitioners. International Journal Entrepreneurial Behaviour & Research, 5(3), 110-125.
Jensen, B. J. (2016). Entrepreneurs’ percieved factors of success and barriers-to-entry for small business and farm operations in Rural Paraguay. Master's thesis. Utah: Utah State University.
Kew, J., Herrington, M., Litovsky, Y., & Gale, H. (2013). Generation entrepreneur? The state of global youth entrepreneurship. Retrieved from https://www.youthbusiness.org/wpcontent/uploads/2013/09/GenerationEntrepreneur.pdf.
Khelil, N. (2016). The many faces of entrepreneurial failure: Insights from an empirical taxonomy. Journal of Business Venturing, 31(1), 72-94. http://doi.org/10.1016/j.jbusvent.2015.08.001.
Lee, J., & Miesing, P. (2017). How entrepreneurs can benefit from failure management. Organizational Dynamics, 46(3), 157-164. http://doi.org/10.1016/j.orgdyn.2017.03.001.
Mihajlović, I., & Schulte, P. (2015). The reasons for SME’s failure, comparative analysis and research. In Proceedings of FIKUSZ Symposium for Young Researchers. Óbuda University Keleti Károly Faculty of Economics. pp 7-22.
Muhammad, N., McElwee, G., & Dana, L. (2017). Barriers to the development and progress of entrepreneurship in rural Pakistan. International Journal of Entrepreneurial Behavior & Research, 23(2), 279-295. http://doi.org/10.1108/IJEBR-08-2016-0246.
Oser, F., & Volery, T. (2012). «Sense of failure» and «sense of success» among entrepreneurs: The identification and promotion of neglected twin entrepreneurial competencies. Empirical Research in Vocational Education and Training, 4(1), 27-44.
Pruett, M., Shinnar, R., Toney, B., Llopis, F., & Fox, J. (2009). Explaining entrepreneurial intentions of university students: A cross-cultural study. International Journal of Entrepreneurial Behavior & Research, 15(6), 571-594. http://doi.org/10.1108/13552550910995443.
Rasmussen, E. (2011). Understanding academic entrepreneurship: Exploring the emergence of university spin-off ventures using process theories. International Small Business Journal: Researching Entrepreneurship, 29(5), 448-471. http://doi.org/10.1177/0266242610385395.
Sari, H. R. (2014, September 25). Jumlah umkm In-donesia 57,9 juta, terbanyak dibanding negara lain. Retrieved on February 7, 2016 from Merdeka: http://www.merdeka.com/uang/jumlahumkm-
indonesia-.
Setiawan, H. (2016). Kewirausahaan sebagai pendukung keberhasilan bisnis kontraktor di Indonesia. Jurnal Teknik Sipil, 14(1), 36-46.
Rezaei-zadeh, M., & Reilly, J. O. (2014). Using interactive management to identify, rank and model entrepreneurial competencies as universities’ entrepreneurship curricula. The Journal of Entrepreneurship, 23(1), 57-94. http://doi.org/10.1177/0971355713513353.
Sadi, M. A., & Henderson, J. C. (2010). Franchising and small medium-sized enterprises (SMEs) in industrializing economies: A Saudi Arabian perspective. Journal of Management Development, 30(4), 402–412. http://doi.org/10.1108/02621711111126855.
Shulman, J. M., Cox, R. A. K., & Stallkamp, T. T. (2012). The strategic entrepreneurial growth model. Competitiveness Review, 21(1), 29-47. http://doi.org/10.1108/10595421111106210.
Tha, S. (2017). Coping with fear of failure: Experiences of young start-up entrepreneurs. Doctoral dissertation. Aucland: Auckland University of Technology.
Thompson, J., & Downing, R. (2007). The entrepreneur enabler: Identifying and supporting those with potential. Journal of Small Business and Enterprise Development, 14(3), 528-544. http://doi.org/10.1108/14626000710773592.
Wajahat, S., & Naqvi, H. (2011). Critical success and failure factors of entrepreneurial organizations: Study of SMEs in Bahawalpur, Pakistan. Journal of Public Administration and Governance, 3(4), 96-100.
Walsh, G. S., & Cunningham, J. A. (2016). Business failure and entrepreneurshsip: Emergence, evolution and future research. Foundations and Trends in Entrepreneurship, 12(3), 163-285.
Welter, F. (2006). The environment for female entrepreneurship in Germany. Journal of Small Business and Enterprise Development, 11(2), 212-223. http://doi.org/10.1108/14626000410537155.
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
a. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License - Share Alike that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
b. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
c. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
USER RIGHTS
All articles published Open Access will be immediately and permanently free for everyone to read and download. We are continuously working with our author communities to select the best choice of license options, currently being defined for this journal as follows: Creative Commons Attribution-Share Alike (CC BY-SA)
