International Journal of Research Studies in Management
CollabWritive Special Issue
2023 Volume 11 Issue 7
Available Online: 25 August 2023
Author/s:
Wang, Zixuan
Graduate School, Lyceum of the Philippines University – Batangas, Philippines
Abstract:
In today’s economic society, startups have become an important force for national economic development. However, in the post-pandemic era, the growth of startups is not optimistic. Some startups are unable to overcome the various challenges they encounter, leading to failure. This article conducts in-depth research on the growth of startups. It constructs a framework and system for the growth mechanism of Chinese startups based on entrepreneurial ability and entrepreneurial orientation. This framework serves as an important practical foundation for startups to overcome challenges. This paper utilized the descriptive research method and the questionnaire as the source of data collection. Specifically, assessed the entrepreneurial abilities of the respondents in terms of organization improvisation, resource bricolage, and dynamic capability. The entrepreneurial orientation was determined based on innovativeness, proactiveness, and risk-taking. The challenges faced by new startups were described in terms of marketing, funding, talent hiring, and innovation. All respondents agreed with the content reflected in the questionnaire. Correlation analysis was used for statistical analysis of the data. The research shows that there is a significant correlation between entrepreneurial ability and entrepreneurial orientation, and the stronger entrepreneurial ability, the more it affects entrepreneurial orientation. At the same time, entrepreneurial ability has a highly significant correlation with the challenges of new startups. The stronger entrepreneurial ability, the newer startups can make full use of existing resources, break through resource constraints, respond to sudden problems in a timely manner, develop flexibly, and dynamically adapt to changes in internal and external environment, the newer startups can overcome challenges and improve growth. Then, entrepreneurial orientation has a highly significant correlation with the challenges of new startups. High entrepreneurial orientation encourages new startups to prioritize innovation strategies, take the lead in responding to changes in the external environment, and take calculated risks to seize fleeting business opportunities. Therefore, the more challenges they can overcome, the more can improve business performance. Finally, a framework for improving the growth mechanism of Chinese new startups is given, and relevant opinions and suggestions on the growth and development of new startups are put forward.
Keywords: entrepreneurial ability, entrepreneurial orientation, new-startup challenges, startup growth mechanism framework
DOI: https://doi.org/10.5861/ijrsm.2023.1092
Cite this article:
Wang, Z. (2023). Entrepreneurial ability, entrepreneurial orientation and new-startup challenges: Basis for Chinese startups growth mechanism framework. International Journal of Research Studies in Management, 11(7), 163-180. https://doi.org/10.5861/ijrsm.2023.1092