چكيده به لاتين
Startups play a key role in enhancing innovation, employment and the competitive advantages throughout the whole country. However, the rate of failure or entrepreneurial opt-outs is high in the businesses and consequently there is an economic, social, mental and psychological costs that are imposed on entrepreneurs and the society individuals. This study, is going to analyze the different dimensions of the entrepreneurs’ failure as - objective and subjective failures at the corporate level (Firm objective and Firm subjective) and at the individual level (Individual objective and Individual subjective) – the research introduces the concept of failure and its variables for each dimension. This study presents a range of different interpretation of the failure concept according to the business management’s beliefs and also illustrates a better and refined definition for the ‘Failure’ concept in ‘Entrepreneurship’ literature review. This study highlights a structural model that reflects the relationships among the different dimensions of entrepreneurial failure. With respect to the model’s data gathering, the Quantitative approach (Questionnaire/Survey method) is utilized. As this research main aim is to investigate the internal connection of different aspects of start-up’s failure, thus for Data Analysis, the Structural Equation Modeling (SEM) approach has been applied. The study focuses on 105 individuals as research participants. By applying the ‘Smart PLS’ software, the validity of assumptions and the significance of relationships are studied. Through initial conceptual model, there are 5 routes between four dimensions of failure. The weight coefficient is a significant on each route and it reveals the level of impact of entrepreneurial failure’s dimensions on each other. The two connectivity between Firm-Obj to Firm-Sub and also between Firm-Obj to Ind-Sub have the highest meaningful coefficient. This means that if the company experiences revenue reduction and the cost increment, and at the same time is unable to attract new capitals; then it has a direct and significant impact on firm-level’s mental failure and causes an evident poor business performance. In addition, when an objective failure occurs in a firm, the entrepreneur directly endures costs in terms of financial, social and psychological perspectives. The significant route between Firm-Sub to Ind-Sub illustrates that when a mental breakdown occurs at the firm-level, the firm shows a poor performance and reveals an enduring financial, social and psychological consequences on individuals. Two other routes between Firm-Obj to Ind-Obj and also between Ind-Obj to Ind- Sub are eliminated from the conceptual model regards to the different interferer which affects those routes and resulted as meaningless relationships, so after removing those routes the conceptual model refined and finalized. The early identification of any evidence of failure dimensions and their interrelated relevance will help to address entrepreneurial failure sooner supports the entrepreneurs to search for an emergent and immediate opt-outs or solutions, which prevents the individuals and businesses to avoid further loss consequences.
