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Entrepreneurial Resilience during Challenging Times Case Solution & Answer

How entrepreneurs and aspiring entrepreneurs to recover uncertainty and create businesses in difficult circumstances? Until recently, little was known about what drives business decisions in these difficult times. Our new study shows that specific personal factors are very important for the achievement of entrepreneurship, especially in times of adversity. Based on survey data from more than 500 entrepreneurs from the United States and abroad to answer this question, we find that entrepreneurial self-efficacy – defined as a belief in their ability to be an entrepreneur – and resistance are of particular importance. To strengthen self-efficacy and resilience, entrepreneurs and future entrepreneurs must (1) participate in the formation of business development to strengthen their belief in their business capacity (ie, the spirit of self-efficacy Business), (2 ) find networking events, special lectures and mentoring opportunities to learn from others who have shown modeling resilience in difficult times, and (3) be active in their business activities, business practicality, and seek the opinion of those they can be objective, critical and encouraging.
by
Ammanda Bullough,
Maija Renko
Source: Business Horizons
8 pages.
May 15 2013: release date. Prod #: BH534-PDF-ENG
Business resiliency solution for Case hard times

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