Being and becoming an entrepreneur: A narrative study on the development of entrepreneurial mindset in Pakistan

Abstract

Objective: The study aims to explore the journey of the development of an entrepreneurial mindset among Pakistani entrepreneurs. The continuous economic instability in the country has resulted in an unpredictable future and reduced job opportunities. Therefore, being and becoming an entrepreneur has gained great importance. The study used the self-narratives of twelve entrepreneurs.

Research Design & Methods: This qualitative exploratory study utilized interpretivism as a research paradigm. Using the grounded theory approach, this study employed content analysis to analyze qualitative data. Interviews were conducted to collect data, which was subsequently transcribed, coded, and analyzed before developing the themes.

Findings: The research revealed that entrepreneurship is a mindset, not an occupation or business. Entrepreneurs must be agile, knowledgeable, capable of learning, and have analyzing powers to take a risk. Social networking and online business make the business substantial. Furthermore, successful business stories inspire people to start their businesses.

Implications & Recommendations: The findings of this study are valuable for young people and entrepreneurs who are inclined towards starting a business rather than pursuing a job, which has become more difficult, competitive, and restrictive in terms of income opportunities and the application of innovative ideas. Moreover, government institutions and policymakers can formulate policies to increase entrepreneurial activities based on the research findings.

Contribution & Value Added: This could be one of the first studies conducted in Pakistan to identify the elements that lead to the formation of an entrepreneurial mindset, and themes obtained from the research can be utilized for the benefit of entrepreneurial development. Existing research gaps were filled by the contribution of this study. In addition, this study provides practical insights to being and becoming entrepreneurs.

Keywords

becoming entrepreneur, being entrepreneur, entrepreneurial development, mindset, Pakistan

Author Biography

Syed Aamir Alam Rizvi

Syed Aamir Alam Rizvi*

Ph.D. Scholar, Institute of Business Management, Karachi, Pakistan

Std_29235@iobm.edu.pk

*Corresponding author

Dr. Muhammad Azeem Qureshi

Assistant Professor, Institute of Business Management Karachi, Pakistan.   azeem.qureshi@iobm.edu.pk

Quratulain Nazeer

Lecturer, Sindh Madressatul Islam University, Karachi, Pakistan

qnazeer@smiu.edu.pk

Mohsin Ali

 Lecturer, National Textile University, Karachi campus, Sindh, Pakistan

 mohsinali@ntu.edu.pk 

Biographical notes: Syed Aamir Alam Rizvi is currently pursuing his Ph.D. in Business Management from the Institute of Business Management in Karachi, Pakistan. He holds three master's degrees. He has compiled three books. He has a wide range of experience working in the audit & accounts, management, and project management fields. He has actively researched various subjects of management and the public sector with peers. His research interests include entrepreneurship, audit & accounts, management, and the public sector.

Dr. Muhammad Azeem Qureshi is an Assistant Professor in the Department of Management & HR at the Institute of Business Management in Karachi, Pakistan. He is an HEC-approved Ph.D. supervisor and associate editor of the Pakistan Business Review (PBR). He is a postdoctoral research fellow at the University of Malaysia Perlis. He holds a Ph.D. degree in the field of Business Management and was awarded the Certification of Merit for distinguished performance during his Ph.D. He was awarded an MS degree in Management Sciences with a Gold Medal for securing a 4.00 CGPA and Summa Cum Laude Award for outstanding academic performance. His research areas encompass Business Management, Organizational Behavior, and specifically, Leadership, Ethics, and Layoff Survivor Sickness. He has published several research papers in HEC-recognized national and international peer-reviewed journals. He has also presented his research work at several national and international conferences. He has supervised PhDs and several MS/Mphil candidates. Before joining IoBM, he had been in various administrative and academic positions in different institutions.

Quratulain Nazeer Ahmed is serving as a lecturer at the Department of Accounting, Banking & Finance, Sindh Madressa-tul-Islam University, Pakistan. Along with this, she is also perusing a Ph.D. in Business Management from the Institute of Business Management in Karachi, Pakistan. Her main areas of research are sustainability, Islamic finance, and entrepreneurship.

Mohsin Ali is working as a lecturer in the Textile Department at National Textile University Karachi. He is also perusing a Ph.D. in business management from the Institute of Business Management in Karachi, Pakistan. His research interests are operational resilience and efficiency, lean practices, and big data analytics.