Exploring the cultural determinants of entrepreneurial success: The case of Malaysia

Abstract

This paper examines the cultural determinants of entrepreneurial success in Malaysia. Entrepreneurship is one of the main important drivers of a market nation and economists have underlined the crucial task acting in the market development. By employing describing the phenomenon of new venture creation and an interactive framework of entrepreneurship, this paper proposes a model that comprises four elements particularly in entrepreneurial culture and mindset influences. First the factor elements that lead to success in entrepreneurship are discussed together with the all four elements which are (1) presence of experienced entrepreneurs, (2) skills and knowledge of entrepreneurs, (3) cultural attitudes towards entrepreneurship and (4) proximity of entrepreneurial universities. Second, the main findings from the research are as follows; the elements of entrepreneurial culture and mindsets are the factors that contributed to the success in entrepreneurship. Third, this research will be practicable for academicians and the researchers who are concerned in examining the success factors on entrepreneurship. Finally, this study may conduce through the national or regional laws and regulation be changed to facilitate and retain the entrepreneurial movement. The future research may focus on the different physical region in Malaysia or within each of the other developing countries. (C) 2017 The Authors. Published by IASE. This is an open access article under the CC BY-NC-ND license.