Entrepreneurial passion, entrepreneurial perseverance, and new enterprise performance: Evidence from China
When I was a graduate student at Harvard University, one of my professors was David C. McClelland, who played a significant role in early research on need achievement and the rise and fall of nations. This was to lead to my strong academic and personal interest in entrepreneurship.
The economic well-being of nations around the world, and quality of life for millions, depends upon entrepreneurship. We need people with the passion, knowledge, flexibility, and persistence to start and maintain enterprises that provide the services and goods that we each depend upon to conduct our lives.
With the disruption caused by the current worldwide pandemic, this flexibility of entrepreneurs to adapt to changing circumstances becomes particularly vital.
In this study, the authors focused on 228 new enterprise owners in three Chinese cities: Wuhan, Chengdu, and Zhengzhou. They specifically investigated entrepreneurial passion and new enterprise performance. Their results showed the importance of passion, perseverance, and competence for entrepreneurial success.
Given the importance of entrepreneurship to society, the authors argue that policy makers should establish policies to create a positive environment for innovation and entrepreneurship, and a cultural milieu that encourages this..
Robert A. C. Stewart | Editor-in-Chief