Development of Antecedent Factors for Malaysian Women’s Entrepreneurial Resilience Framework: A Fuzzy Delphi Method
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Sep 10, 2023
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Abstract
This study assesses the antecedent factors of entrepreneurial resilience and the underlying criteria to develop a Malaysian women’s entrepreneurial framework based on the expert linguistic consensus to identify potential strategies to empower women entrepreneurship sector in Malaysia. The Delphi Fuzzy (FDM) method is used to obtain expert consensus on the important factors that stimulate and encourage entrepreneurial resilience based on a review of previous literature. The judgment sampling technique was used to develop a survey and distributed it to 20 experts. The linguistic consensus of experts is analyzed using Fuzzy Set Theory and Triangular Fuzzy Numbers (TFN). This study confirms the strategic factors that can foster the development of resilient women entrepreneurs and identifies key resilience criteria that play a vital role in boosting the business longevity of women-owned SMEs. Importantly, religion and psychological capital are key to developing entrepreneurial resilience among women entrepreneurs. In addition, technology skills should be leveraged to deal with an increasingly complex market environment and create opportunities in a crisis. This study focuses on the context of Malaysian women entrepreneurs, who may not represent other countries. This study highlights the importance of entrepreneurial psychological traits (i.e., cognitive, and behavioural) for theoretical and managerial implications in fostering the ability of women entrepreneurs to adjust to new circumstances and thereby contribute to the long-term sustainability of their businesses. Upcoming studies are recommended to test the resilience factor of these entrepreneurs on a sample of the female entrepreneur population through exploratory studies using questionnaire instruments.
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References
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[54] Vasconcelos, A. F. 2021. "Individual spiritual capital: meaning, a conceptual framework and implications." Journal of Work-Applied Management, 13(1): 117–141.
[55] Wang, P., Chen, X., Gong, J. and Jacques-Tiura, A. J. 2014. "Reliability and Validity of the Personal Social Capital Scale 16 and Personal Social Capital Scale 8: Two Short Instruments for Survey Studies." Social Indicators Research, 119(2): 1133–1148.
[56] Welsh, D. H. B., Kaciak, E. and Shamah, R. 2018. "Determinants of women entrepreneurs’ firm performance in a hostile environment." Journal of Business Research, 88(June): 481–491.
[2] Alharbi, M. G. and Khalifa, H. A. E.-W. 2021. "Enhanced Fuzzy Delphi Method in Forecasting and Decision-Making." Advances in Fuzzy Systems, 2021.
[3] Badzaban, F., Rezaei-Moghaddam, K., and Fatemi, M. 2021. "Analysing the individual entrepreneurial resilience of rural women." Journal of Global Entrepreneurship Research, May.
[4] Becker, T.E. and Kabongo, J.D. 2020. "The Resilience of Entrepreneurs in Developing Economies." Research Handbook on Organizational Resilience (E.H. Powley, B. Barker Caza and A. Caza (Eds.) : 116–130. Edward Elgar Publishing.
[5] Bui, T. D., Tsai, F. M., Tseng, M.-L., and Ali, M. H. 2020. "Identifying sustainable solid waste management barriers in practice using the fuzzy Delphi method." Resources, Conservation and Recycling, 154(August 2019): 104625.
[6] Bullough, A. and Renko, M. 2013. "Entrepreneurial resilience during challenging times." Business Horizons, 56(3): 343–350.
[7] Chang, P. L., Hsu, C. W. and Chang, P. C. 2011. "Fuzzy Delphi method for evaluating hydrogen production technologies." International Journal of Hydrogen Energy, 36(21): 14172–14179.
[8] Chipfunde, D., Yahaya, S. N., and Othman, N. A. 2021. "The determinants influencing the performance of women entrepreneurs in malaysia: A conceptual framework." Estudios de Economia Aplicada, 39(4).
[9] Chhabra, S., Raghunathan, R. and Rao, N. V. M. 2020. "The antecedents of entrepreneurial intention among women entrepreneurs in India." Asia Pacific Journal of Innovation and Entrepreneurship, 14(1): 76–92.
[10] Coates, G., Wright, N.G., McGuinness, M., Guan, D., Harries, T. and McEwen, L. 2016. SESAME: Improving small and medium enterprises’ operational response and preparedness to flood events (S. Syngellakis (ed.); Management). WIT Press.
[11] Corsetti, G. and Pesenti, P. 2001. "Welfare and macroeconomic interdependence." The Quarterly Journal of Economics, 116(2): 421–445.
[12] Department of Statistics. 2021. "Number of establishments by SME." Interactive Malaysia Statistical Business Register (i-MSBR).
[13] Doern, R. 2017. "Strategies for resilience in entrepreneurship: Building resources for small business survival after a crisis." Creating ResilientEconomies: Entrepreneurship, Growth and Development in Uncertain Times, 11–27.
[14] Duchek, S. 2018. "Entrepreneurial resilience: a biographical analysis of successful entrepreneurs." International Entrepreneurship and Management Journal, 14(2):429–455.
[15] Duchek, S. 2020. "Organisational resilience: a capability-based conceptualisation." Business Research, 13(1): 215–246.
[16] Fang, S., Prayag, G., Ozanne, L. and Vries, H. 2020). "Psychological capital, coping mechanisms and organisational resilience: Insights from the 2016 Kaikoura earthquake, New Zealand." Tourism Management Perspectives, 34(March 2019): 100637
[17] Fegert, J. M., Vitiello, B., Plener, P. L. and Clemens, V. 2020. "Challenges and burden of the Coronavirus 2019 (COVID-19) pandemic for child and adolescent mental health: A narrative review to highlight clinical and research needs in the acute phase and the long return to normality." Child and Adolescent Psychiatry and Mental Health, 14(1): 1–11.
[18] Gregurec, I., Tomičić Furjan, M., and Tomičić-Pupek, K. 2021. "The impact of covid‐19 on sustainable business models in SMEs." Sustainability (Switzerland), 13(3): 1–24.
[19] Habibi, A., Jahantigh, F. F. and Sarafrazi, A. 2015. "Fuzzy Delphi Technique for Forecasting and Screening Items." Asian Journal of Research in Business Economics and Management, 5(2): 130.
[20] Hedner, A. and Klofsten M., T. 2011. "Entrepreneurial resilience." Annals of Innovation and Entrepreneurship, 2(1).
[21] Herbane, B. 2019. "Rethinking organisational resilience and strategic renewal in SMEs." Entrepreneurship and Regional Development, 31(5–6): 476–495.
[22] Ishikawa, A., Amagasa, M., Shiga, T., Tomizawa, G., Tatsuta, R. and Mieno, H. 1993. "The max-min Delphi method and fuzzy Delphi method via fuzzy integration." Fuzzy Sets and Systems, 55(3): 241–253.
[23] James, E. H. 2000. "Race-Related Differences in Promotions and Support: Underlying Effects of Human and Social Capital." Organization Science, 11(5): 493–508.
[24] Junusi, R. El and Mubarok, F. K. 2020. "Islamic Entrepreneur Resilience Model: Retail Business Survives During Crisis." Journal of Digital Marketing and Halal Industry, 2(2): 89.
[25] Karimi, Y.M., Karimi, H. and Iranzadeh, S. 2022 "Women's Ventures Resilience and COVID-19 Crisis: A Lesson to Success in Time of Crisis." Journal of Women's Entrepreneurship and Education, 1(2): 1–18.
[26] Khan, F. R. 2015. "Women Entrepreneurship in Chennai, India – Factors Trigger and Prevent." International Journal of Management, Innovation and Entrepreneurial Research, 1(1): 22–31.
[27] Lazić, M., Jovanović, O. and Lazarević-Moravčević. M. 2021. "Women’s Entrepreneurship in the Wake of the Covid19 Crisis: The Case of Serbia." Journal of Women's Entrepreneurship and Education, 1(2): 56–69.
[28] Luthans, F., Avolio, B.J., Avey, J.B. and Norman, S.M. 2007. "DigitalCommons @ University of Nebraska - Lincoln Positive Psychological Capital : Measurement and Relationship with Performance and Satisfaction Positive Psychological Capital : Measurement and Relationship with Performance and Satisfaction." Personnel Psychology, 60:541–572.
[29] Mahdipour, F. 2022. "Instagram as a Means of Empowering Iranian Women by Focusing on Home-based Businesses." Journal of Women's Entrepreneurship and Education, 3(4): 223–245.
[30] Masten, A. S. 2001. "Ordinary magic: Resilience processes in development." American Psychologist, 56(3):227–238.
[31] Matharu, S. K., and Juneja, D. 2021. "Factors Impacting Resilience of Women Entrepreneurs in India in the Face of COVID-19." Vision. https://doi.org/https://doi.org/10.1177/09722629211043299
[32] Morales, J., Montes, R., Zermeño, N., Duran, J. and Herrera, F. 2018. "The use of fuzzy linguistic information and fuzzy Delphi method to validate by consensus a questionnaire in a blended-learning environment." Communications in Computer and Information Science, 855(Ml): 137–149.
[33] Nichter, S., and Goldmark, L. 2009. "Small firm growth in developing countries." World Development, 37(9): 1453–1464.
[34] Nyabwanga, R. N., Ojera, P., Lumumba, M., Odondo, A. J., and Otieno, S. 2012. "Effect of working capital management practices on financial performance: A study of small scale enterprises in Kisii South District, Kenya." African Journal of Business Management, 6(18): 5807–5817.
[35] Nunnally, J.C., and Bernstein, I.R. 1994. "Psychometric theory (3ed)." McGraw-Hill, New York.
[36] OECD. 2020. "Forthcoming OECD policy brief: Women at the core of the fight against COVID-19." 1–30. https://read.oecd-ilibrary.org/view/?ref=127_127000-awfnqj80meandtitle=Women-at-the-core-of-the-fight-against-COVID-19-crisis%0Ahttp://www.oecd.org/coronavirus/en/
[37] OECD. 2021. "SME and Entrepreneurship Outlook 2021." In OECD Publishing.
[38] Paliwoda, S.J. 1983. "Predicting the future using Delphi." Management Decision, 21 (1): 31–38.
[39] Pergelova, A., Manolova, T., Simeonova-Ganeva, R. and Yordanova, D. 2019. "Democratising Entrepreneurship? Digital Technologies and the Internationalisation of Female-Led SMEs." Journal of Small Business Management, 57(1): 14–39.
[40] Qalati, S. A., Li, Y., and Bhayo, S. H. 2023. "Antecedents of entrepreneurial resilience." In W. J. Aloulou (Ed.), Handbook of Research on Entrepreneurship and Organizational Resilience during unprecedented Times. ISI Global.
[41] Quagrainie, F A. 2020. "Are small women entrepreneurs resilient? Highlighting the roles of entrepreneurial competencies and motivation." International Journal of Business and Globalisation, 25(3): 361–377.
[42] Rakošec, Ž., Mikšić, Š., Juranić, B. and Batinić, L. 2015. "Psychometric characteristics of croatian version of the daily spiritual experience scale." Religions, 6(2): 712–723.
[43] Ranatunga R.V.S.P.K., Priyanath H.M.S., and Megama R.G.N. 2020. "Digital Literacy, Business Uncertainty and EconomicPerformance: An Empirical Study of Small Businesses in SriLanka." International Journal of Academic Research in Business and Social Sciences, 10(5), 50–76.
[44] Rani, N. S. A., Krishnan, K. S., Suradi, Z., and Juhdi, N. 2019. "Identification of critical components of resilience during and after economic crises: The case of women food operators in Kuala Lumpur." Asian Academy of Management Journal, 24: 111–126.
[45] Salamzadeh, A., Mortazavi, S., Hadizadeh, M. and Braga, V. 2023. "Examining the Effect of Business Model Innovation on Crisis Management: The Mediating Role of Entrepreneurial Capability, Resilience and Business Performance." Innovation and Management Review, 20(2): 132–146.
[46] Salamzadeh, A., Radovic Markovic, M. and Salamzadeh, Y. 2022. "The Economic Resilience-Entrepreneurship Nexus." Journal of Entrepreneurship and Business Resilience, 5(1): 7–12.
[47] Salignac, F., Marjolin, A., Reeve, R. and Muir, K. 2019. "Conceptualising and Measuring Financial Resilience: A Multidimensional Framework." Social Indicators Research, 145(1): 17–38.
[48] Selvanayaki, S., Sivakumar, S.D., Rohini, A. and Mani, K. 2016. "Financial Management Practices and Profitability of Modern Rice Milling Firms in Kangayam Cluster, Tamil Nadu." Agricultural Economics Research Review, 29(2): 297.
[49] Shamaki, H., Ibrahim, U.A. and Philemon, N.A. 2022. "Evaluating the Influence of Digital Technology on the Performance of Female-Owned Enterprises in Nigeria." Journal of Women's Entrepreneurship and Education, 1(2): 39–60.
[50] SME Corp Malaysia 2021. "Entrepreneurs risk closing down if MCO prolonged." https://www.smecorp.gov.my/index.php/en/resources/2015-12-21-10-55-22/news/4357-entrepreneurs-risk-closing-down-if-mco-prolonged-says-wan-junaidi
[51] Soleymani, A., Yaghoubi Farani, A., Karimi, S., Azadi, H., Nadiri, H. and Scheffran, J. 2021. "Identifying sustainable rural entrepreneurship indicators in the Iranian context." Journal of Cleaner Production, 290, 125186.
[52] Steininger, D. M. 2019. "Linking information systems and entrepreneurship: A review and agenda for IT-associated and digital entrepreneurship research." Information Systems Journal, 29(2): 363–407.
[53] Sultan, S. and Sultan, W. I. M. 2020. "Women MSMEs in times of crisis: challenges and opportunities." Journal of Small Business and Enterprise Development, 27(7): 1069–1083.
[54] Vasconcelos, A. F. 2021. "Individual spiritual capital: meaning, a conceptual framework and implications." Journal of Work-Applied Management, 13(1): 117–141.
[55] Wang, P., Chen, X., Gong, J. and Jacques-Tiura, A. J. 2014. "Reliability and Validity of the Personal Social Capital Scale 16 and Personal Social Capital Scale 8: Two Short Instruments for Survey Studies." Social Indicators Research, 119(2): 1133–1148.
[56] Welsh, D. H. B., Kaciak, E. and Shamah, R. 2018. "Determinants of women entrepreneurs’ firm performance in a hostile environment." Journal of Business Research, 88(June): 481–491.