What is it about?
Business owners can gain competitive advantage if they deal effectively with the demands related to owning and running a business. Their responses depend on individual appraisals of demands as challenging, hindering or threatening. This study provides an in-depth, contextualized and dynamic view of the factors underlying business owners appraisals of demands. The results imply that appraisals can be influenced by societal context, life events, processes of formal and informal learning, personal growth and aging.
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Why is it important?
Improving the performance of small and medium sized enterprises remains of utmost importance, given their key role in driving national and local economies. The way business owners appraise their situation influences the way they run their business. From a psychological point if view, stimulating cognitive reappraisal may seem a viable entrance point for improving business owners' performance via improving their motivation, decision making and proactive (entrepreneurial) behavior. However, the results of this study emphasize that individual appraisals are a function of business owners’ resource levels and ecological conditions, which are anchored in an objective reality.
Perspectives
This manuscript fits in my line of research on psychological aspects of entrepreneurship, in which I aim to provide new insights into how processes on the individual level, business level and societal level interact. With my work I aim to provide a clearer understanding of processes across different levels of investigation.
Marjan Gorgievski
Erasmus Universiteit Rotterdam
Read the Original
This page is a summary of: Understanding business owners' challenge and hindrance appraisals, Journal of Managerial Psychology, November 2020, Emerald,
DOI: 10.1108/jmp-11-2019-0661.
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