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

Jean‐louis Van gelder, Reinout E. De vries, Michael Frese and Jan‐peter Goutbeek

Journal of Small Business Management, 2007, vol. 45, issue 3, 388-400

Abstract: 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 higher degree of human capital than failed entrepreneurs. The data were analyzed using discriminant analysis. Results confirmed the hypotheses regarding planning and goal specificity.

Date: 2007
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DOI: 10.1111/j.1540-627X.2007.00219.x

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