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Title Development and Validation of Professional Development Inventory for Young Entrepreneurs in Pakistan

Author(s) Hafiz Haseeb Nisar

Abstract This research project was designed to develop and validate the Entrepreneurial Professional Development Inventory for Young Entrepreneurs in Pakistan and to examine the predictive relationships between professional development and other variables with the entrepreneurial orientation of young entrepreneurs. The primary objective of this study is to identify the key characteristics and factors that contribute to an entrepreneur's success. In the context of Pakistan, where entrepreneurship is still in its early stages, various theoretical paradigms, from trait theories to behavioral motivation perspectives, have sought to explain its significance. Despite facing ongoing challenges in economic development and growth, Pakistan's need to enhance productivity has become increasingly urgent. In this scenario, entrepreneurs play a crucial role in driving the country's overall economic progress. To achieve these objectives, a mixed-method approach was employed, comprising three studies conducted in multiple phases. Study I was qualitative, utilizing a phenomenological exploratory approach to investigate the professional development of successful Pakistani entrepreneurs. A purposive sampling technique was applied, targeting 25 successful entrepreneurs (18 men and 7 women, aged 40 to 60) from Islamabad, Lahore, Rawalpindi, and Karachi. Semi-structured Interviews were used to explore the experiences of successful Pakistani entrepreneurs. The obtained data was transcribed using a simple transcription method by Kuckarz (2014). The information was narrowed down to only relevant factors and characteristics. Thematic analysis was used to analyze the data manually and develop descriptive, organizing, and global themes (Clarke et al., 2015). Six major themes emerged from the thematic analysis of ix data. The themes included Business Obstacles/Troubles, Personality Characteristics/Traits, Business Ethics and conduct, Competencies and skills, Antecedents of Success, and Guidelines/Road Map for Young Entrepreneurs. Study II was a quantitative investigation conducted in three phases. Phase I focused on the development of the instrument for the study. Following the confirmation of construct fidelity and content validity, the inventory items underwent principal axis factoring using the oblimin rotation method on a sample of 350 young business graduates (261 men, 89 women, aged 23 to 30). This analysis resulted in the retention of 35 items, organized into a well-defined five-factor structure: Entrepreneurial Traits, Entrepreneurial Acumen, Entrepreneurial Values, Managerial Skills, and Leadership Skills. Together, these factors accounted for 66.80% of the variance. The outcome of this process was the development of the indigenous Entrepreneurial Professional Development Inventory for Young Entrepreneurs (EPDI). Phase II involved conducting a confirmatory factor analysis on a sample of 300 young entrepreneurs (222 men, 78 women, aged 30-60) using AMOS. This analysis resulted in a refined Entrepreneurial Professional Development Inventory (EPDI) comprising five factors and 32 items, which met all the model fit standards (CFI = .95, GFI = .94, RMSEA = .05). Phase III focused on establishing convergent validity, revealing a significant positive relationship between the EPDI and related entrepreneurial scales. Study III aimed at testing the EPDI. A purposive sample of 300 young entrepreneurs from various cities in Pakistan was selected to evaluate the study hypotheses and correlations. Data were collected using a demographic datasheet and several scales, including the Entrepreneurial Professional Development Inventory for Young Entrepreneurs, the Scale for Perceived Risk & Barrier (SPRB), The Mini-IPIP6, The x German Ethical Culture Scale (GECS), the Entrepreneurial Knowledge, Skills, Competencies and Performance Scale (EKSCP), the Entrepreneurial Self-Efficacy Scale (ESFS), and the Entrepreneurial Orientation Scale (EOS). Pearson correlation analysis showed that the EPDI had a significant positive relationship with all scales except the Mini-IPIP6. The EPDI demonstrated reliability, and the data were analyzed using SPSS-27. Group differences were assessed through t-tests and ANOVA, revealing significant differences in EPDI scores based on gender, age, marital status, family system, and educational background. The findings provide valuable insights for young entrepreneurs, startups, and educational institutions, emphasizing the importance of developing specific traits, characteristics, and skills for professional growth. Additionally, current entrepreneurs and business professionals can use these insights to identify and address gaps in their practices, enhancing their chances of success and growth.

Type Thesis/Dissertation PhD

Faculty Social Sciences

Department Psychology

Language English

Publication Date 2024-10-02

Subject Psychology

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