Fear Of Failure And Entrepreneurial Intentions: Mediating Role Of Social Context

Abstract

The economic boom is a phenomenon of national relevance that is crucial for various developmental activities and projects. One important factor contributing to economic growth is entrepreneurship, which is recognized as a leading driver of economic development. Entrepreneurship provides individuals with opportunities to utilize available resources and skills to establish and grow businesses. Higher education institutions play a significant role in promoting entrepreneurship and socio-economic development. This study examined the relationships between fear of failure, social context, and entrepreneurial intentions. The research objectives were to explore the dimensions of fear of failure, investigate the influence of social context on entrepreneurial intentions, and examine the mediating role of social context in the relationship between fear of failure and entrepreneurial intentions. The study employed a quantitative research design and collected data from 291 participants. The findings revealed significant positive correlations between fear of failure and social context, fear of failure and entrepreneurial intentions, as well as social context and entrepreneurial intentions. Mediation analysis demonstrated that social context partially mediated the relationship between fear of failure and entrepreneurial intentions. These results suggest that individuals with higher levels of fear of failure tend to perceive a less supportive social context, which in turn influences their entrepreneurial intentions. The study contributes to the existing literature by highlighting the importance of considering both individual psychological factors and the social environment in understanding entrepreneurial intentions. The implications of the findings are discussed in relation to policymakers, educators, and practitioners involved in promoting entrepreneurship. Future research recommendations include replication in different contexts, longitudinal studies, qualitative research, examination of additional mediators and moderators, intervention studies, comparative studies, and mixed-methods research. By addressing these recommendations, we can enhance our understanding of the relationships between fear of failure, social context, and entrepreneurial intentions, and develop effective strategies to support individuals in pursuing entrepreneurial endeavors.