‘Calculated Risk-Taking’: The Success Factors of Entrepreneurial Accountants
##plugins.themes.bootstrap3.article.sidebar##
##plugins.themes.bootstrap3.article.main##
Abstract
This study explored the ‘meaning’ of being a successful entrepreneurial accountant in Laguna, Philippines, using narrative analysis as a research design. Data were gathered from eight qualified entrepreneurial accountants. We based the analysis of data on the Codes-to-Theory Model proposed by Saldaña (2013), where data underwent a three-level analysis. The findings of the study revealed that the factors that contributed to the success of entrepreneurial accountants are the profound handling of the dynamic integration of the internal and external forces that affect their personal lives and professional endeavors. Specifically, these factors include their profile, personality traits, competencies, opportunities, resources, and business values. These factors are personal and organizational. The study recommends the formation of an association of accounting firms in Laguna to provide a flexible support system to the profession and the SME accounting industry as a whole. This study serves as a foundation on the instigation of further studies on the dynamic integration of professional/technical and entrepreneurial characteristics within a successful individual.
##plugins.themes.bootstrap3.article.details##
How to Cite
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
openAccess
Ardichvili, A., Cardozo, R., & Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing, 18(1), 105-123. https://doi.org/10.1016/S0883-9026(01)00068-4
Attkisson, A. (2019, February 27). 15 Great Jobs for introverts. Business News Daily. https://www.businessnewsdaily.com/5126-best-jobs-introverts.html
Barrett, L. (2019, February 21). 10 facts about the status of startups in the Philippines today. Manila Recruitment. https://manilarecruitment.com/manila-recruitment-articles-advice/facts-about-status-startups-philippines/
Barringer, B., & Ireland, R. (2015). Entrepreneurship: Successfully launching new ventures (5th ed.). Pearson.
Bénabou, R., & Tirole, J. (2003). Intrinsic and extrinsic motivation. The Review of Economic Studies, 70(3), 489-520. https://doi.org/10.1111/1467-937X.00253
Burrus, J., Mattern, K., Naomi, B., & Roberts, R. (2017). Building Better Students: Preparation for the Workforce. Oxford University Press. New York. ISBN 978-0-19-937322-2.
Caird, S.P. (1993). What Do Psychological Tests Suggest about Entrepreneurs?. Journal of Managerial Psychology, 8(6), 11-20. https://doi.org/10.1108/02683949310047428
Chan Kim, W., & Mauborgne, R. (2015). Blue Ocean Strategy. Harvard Business School Publishing Corporation, USA. ISBN: 978-1-62527-449.
Chandra, Y. (2018, January 4). Mapping the evolution of entrepreneurship as a field of research (1990–2013): A scientometric analysis. PLoS ONE, 13(1), 1-23. https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0190228
Creswell, J. W. (1998). Qualitative inquiry and research design: Choosing among five traditions. London: Sage. ISBN: 9781506381282
Damelio, R. (2011). The Basics of Process Mapping (2nd edition). CRC Press. Boca Raton, Florida. ISBN 9781439863183.
Deci, E. L., & Ryan, R. M. (2000). The ‘what’ and ‘why’ of goal pursuits: Human needs and the self-determination of behavior. Psychological Inquiry, 11(4), 227-268. https://doi.org/10.1207/S15327965PLI1104_01
Entrepreneur Asia Pacific. (2017, September 11). Do Extroverts Have an Advantage in Entrepreneurship? https://www.entrepreneur.com/article/299999
Diener, E. & Lucas, R. E. (2020). Personality traits. In R. Biswas-Diener & E. Diener (Eds), Noba textbook series: Psychology. Champaign, IL: DEF publishers. Retrieved from https://noba.to/96u8ecgw
Driver, S. (2017, September 19). 16 Entrepreneurs Share their Definitions of Success. Business News Daily. https://www.businessnewsdaily.com/8902-entrepreneurs-define-success.html
Drucker, P. (1985). Innovation and entrepreneurship. HarperCollins.
Feist, J., & Feist, G. (2008). Theories of personality (7th ed.). McGraw Hill.
Ferreira, M. P., Reis, N. R., & Miranda, R. (2015). Thirty years of entrepreneurship research published in top journals: Analysis of citations, co-citations and themes. Journal of Global Entrepreneurship Research, 5(1), 17. https://doi.org/10.1186/s40497-015-0035-6
Ferres, Z. (2015, May 11). The Human Element: Your Most Important Business Resource. Entrepreneur Asia Pacific. https://www.entrepreneur.com/article/245848
Ferriera, N. (2020, Jan 14). What is Entrepreneurship? Entrepreneur Definition and Meaning. Oberlo. https://www.oberlo.com/blog/what-is-entrepreneurship
Fetsch, E., Jackson, C., & Wiens, J. (2015, July 17). Women Entrepreneurs are Key to Accelerating Growth. Ewing Marion Kauffman Foundation. https://www.kauffman.org/resources/entrepreneurship-policy-digest/women-entrepreneurs-are-key-to-accelerating-growth/
Frese, M., & Gielnik, M. (2014). The Psychology of Entrepreneurship. Annual Review of Organizational Psychology and Organizational Behavior, 1(1), 413-438. https://www.researchgate.net/publication/275070998_The_Psychology_of_Entrepreneurship
Gaglio, C. M., & Katz, J. A. (2001). The psychological basis of opportunity identification: Entrepreneurial alertness. Small Business Economics, 16(2), 95-111. https://doi.org/10.1023/A:1011132102464
Ghosh, S. (2017). Startup Business Failure Rate by Industry. Statistic Brain Research Institute. https://www.statisticbrain.com/startup-failure-by-industry/
Gurven, M., Rueden, C., Massenkoff, M., Kaplan, H. & Lero Vie, M. (2013). How Universal Is the Big Five? Testing the Five-Factor Model of Personality Variation Among Forager–Farmers in the Bolivian Amazon. Journal of Personality and Social Psychology, 104(2), 354–370. https://www.apa.org/pubs/journals/releases/psp-104-2-354.pdf
Hedman, J., & Kalling, T. (2003). The business model concept: Theoretical underpinnings and empirical illustrations. European Journal of Information Systems, 12(1), 49-59. https://doi.org/10.1057/palgrave.ejis.3000446
Henry, P. (2017, February 18). Why some startups succeed (and why most fail). The Entrepreneur Asia Pacific. https://www.entrepreneur.com/article/288769
Husso, M., & Nyabakk, E. (2010). The importance of internal and external factors when adapting to environmental changes in SME sawmills in Norway and Finland: The manager’s view. Journal of Forest Products Business Research, 17, 14pp. https://www.semanticscholar.org/paper/Importance-of-Internal-and-External-Factors-when-to-Husso-Nybakk/2e482eb2fc7959c7cfd1b6c4a44927d0b3cdf28e
Indeed. (2020, March 12). 15 Best jobs for introverts. Indeed Career Guide. https://www.indeed.com/career-advice/finding-a-job/15-best-jobs-for-introverts
Jurevicius, O. (2013, September 26). Competitive Advantage. Strategic Management Insight. https://strategicmanagementinsight.com/topics/competitive-advantage.html
Kaplan, S. (2012). The Business Model Innovation Factory. Wiley. USA. ISBN 1118149564
Kauffman Foundation (2015, July 20). Women Entrepreneurs are Key to Accelerating Growth. Entrepreneurship Policy Digest, Kauffman Foundation. https://www.kauffman.org/wp-content/uploads/2019/12/women_entrepreneurs_are_key_to_accelerating_growth.pdf
Light, P. (2006). Research on social entrepreneurship: Understanding and contributing to emergent field. ARNOVA Occasional Paper Series, 1(3), 13-38. https://cdn.ymaws.com/arnova.site-ym.com/resource/resmgr/Publications/ARNOVA_Research_on_Social_En.pdf
Lincoln, Y. S. & Guba, E. G. (1985). Naturalistic Inquiry. Newbury Park, CA: Sage Publications.
Madhani, P. (2010, March 26). Resource Based View (RBV) of Competitive Advantage: An Overview. In Madhani, P, (Ed), Resource Based View: Concepts and Practices (pp. 3 -22). ICFAI University Press. https://www.researchgate.net/publication/45072518_Resource_Based_View_RBV_of_Competitive_Advantage_An_Overview
Marinoff, E. (2016, July 29). An introvert’s 5 tips for career success. Huffpost. https://www.huffpost.com/entry/an-introverts-5-tips-for-career-success_n_577eb908e4b0c590f7e8992a
McClelland, D. (1961). The Achieving Society. Martino Fine Books, USA. ISBN 1891396390.Miller, K. (2009). Organizational Communication: Approaches and Processes. Wadsworth Cengage Learning. ISBN 0- 495-56551-2.
Morato, E. (2018). Entrepreneurship. Rex Printing Company. ISBN 978-971-23-7810-2.
NICE Satmetrix (2018, June 12). What is net promoter?. NICE. https://www.nice.com/engage/press-releases/NICE-Satmetrix-Releases-US-Net-Promoter-Score-Benchmarks-for-2018-Revealing-Customer-Loyalty-Leaders-in-23-Industries-622/
Okpara, F. (2007, September). The value of creativity and innovation in entrepreneurship. Journal of Asia Entrepreneurship and Sustainability, 3(2), np. https://www.asiaentrepreneurshipjournal.com/AJESIII2Okpara.pdf
Padayao, P. (2019, April 26). Exploring the dynamics of contexts in the industrial canteen concession industry in Laguna, Philippines [Conference paper]. RSU International Research Conference 2019. https://rsucon.rsu.ac.th/proceeding/article/1614
Pannapacker, W. (2012, April 15). Screening out the introverts. The Chronicle of Higher Education. https://www.chronicle.com/article/Screening-Out-the-Introverts/131520
Patil, H. R. (2016). Accountaneur: The Entrepreneurial Accountant. CPA Trendlines Research. East Hampton, New York. ISBN 978-0692709092.
Pe-Pua, R., & Protacio-Marcelino, E. (2000). Sikolohiyang Pilipino [Filipino Psychology]: A legacy of Virgilio G. Enriquez. Asian Journal of Social Psychology, 3(1), 49-71. https://onlinelibrary.wiley.com/doi/pdf/10.1111/1467-839X.00054
Porter, M. E. (2008, January). The five competitive forces that shape strategy. Harvard Business Review, 79-93. https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy
Pupavac, D. (2015). Extroverted personality as an advantage in entrepreneurship. Obrazovanje za poduzetništvo - E4E [International Journal of Entrepreneurship Education], 5(2), 133-143. https://hrcak.srce.hr/149535
PwC Network (2017). 2017 Philippine Startup Survey. Off to a great start: The Philippine Startup ecosystem. https://www.pwc.com/ph/en/ceo-survey/2017/pwc-qbo-2017-philippine-startup-survey.pdf
Roberts, E. B. (1989). The personality and motivations of technological entrepreneurs. Journal of Engineering and Technology Management, 6(1), 5-23. https://doi.org/10.1016/0923-4748(89)90012-X
Ryan, R. & Deci, E. (2000). Intrinsic and Extrinsic Motivations: Classic Definitions and New Directions. Contemporary Educational Psychology, 25(1), 54–67. Retrieved from: http://selfdeterminationtheory.org/SDT/documents/2000_RyanDeci_IntExtDefs.pdf
Saint Thomas University (2018, May 8). What is Transactional Leadership? How Structure Leads to Results. STU Online. Retrieved from: https://online.stu.edu/articles/education/what-is-transactional-leadership.aspx
Saldaña, J. (2013). The Coding Manual for Qualitative Researchers. Sage. ISBN 9781473902497. Sansone, C. (2000). Intrinsic and Extrinsic Motivation. Academic Press.
Sapru, R. (2008). Development Administration. Sterling Publishers Private Limited. New Delhi, India. ISBN 81- 207-2413-5.
Schloemer, P. G. (2015). Personality Preferences and Success in Introductory Accounting. Business Administration Faculty Publications, 98(1), 1-9. https://digitalcommons.cedarville.edu/cgi/viewcontent.cgi?article=1097&context=business_administration_publications
Schumpeter, J. A. (1934). The Theory of Economic Development. Harvard University Press.
Senate Economic Planning Office (SEPO). (2012). The MSME Sector at a Glance. Senate of the Republic of the Philippines. https://www.senate.gov.ph/publications/AG 2012-03 - MSME.pdf
Sixvertical. (2018, March 26). 5 characteristics of successful entrepreneurs. Business Leadership. https://www.sixvertical.com/insights-blog-default/top-5-qualities-of-a-successful-entrepreneur
Sturgess, G. (2012, December 6). Skills vs Competencies. What’s the Difference? Talent Align. https://www.talentalign.com/skills-vs-competencies-whats-the-difference/
Sutevski, D. (2020). How to Make Effective Entrepreneurial Work-Life Balance. Entrepreneurship in a Box. https://www.entrepreneurshipinabox.com/1225/work-life-balance-entrepreneurs/
Tappi, D. (2005). Clusters, adaptation, and extroversion: A cognitive and entrepreneurial analysis of the Marche Music Cluster. European Urban and Regional Studies, 12(3), 289-307. https://doi.org/10.1177/0969776405056591
Top Four Indicators to Measure Business Success. (2016). Cutcher & Neale Accounting and Financial Services. https://www.cutcher.com.au/blog/large-enterprise/top-four-indicators-to-measure-business-success
Velasco, L., Castillo, P., Conchada, M., Gozum, B., Largoza, G., Perez, J., & Sarreal, E. (2017). Philippine Entrepreneurship Report 2015–2016. De La Salle University. ISBN 978-971-555-639-2.
Viloria, D. (2018). Exploring a Socially-Constructed Concept and Precursors of Employee Engagement in the Philippine Setting. Review of Integrative Business & Research, 7(4), 1-25. https://buscompress.com/uploads/3/4/9/8/34980536/riber_7-4_01k18-135_1-25.pdf
Wadhwa, V. Holly, K., Aggarwal, R., & Salkever, A. (2009, July 7). Anatomy of an Entrepreneur: Family Background and Motivation. Kauffman Foundation Small Research Projects Research. https://dx.doi.org/10.2139/ssrn.1431263
Zipkin, N. (2018, March 21). 35 Successful Entrepreneurs Share What Work-Life Balance Means to Them. Entrepreneur Asia Pacific. https://www.entrepreneur.com/slideshow/294417