Causal modelling of failure fears for international entrepreneurs in tourism industry: a hybrid Delphi-DEMATEL based approach

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Abstract

Purpose

This paper aims to recognise and identify fears of failure in the international entrepreneurship ecosystem and find the effects of these fears on each other to reduce these increasing effects and minimise the mental barriers for potential entrepreneurs. Therefore, this research is beneficial to strengthen international entrepreneurial personality and to reduce the shadows of fears on entrepreneurs’ minds. To address this purpose the international tourism industry has been investigated in the emerging economy of Iran.

Design/methodology/approach

This paper is organised based on experts' opinions, and then factors are identified by literature review and are finalised through the Delphi method with a panel of practical and academic experts. These fears are categorised using a questionnaire and factor analysis (FA) technique. The respondents were entrepreneurship students and tourism entrepreneurs. Subsequently, the effect and importance of fears of failure are scored and ranked by some experts. These fears were analysed through decision-making trial and evaluation laboratory (DEMATEL) method. The results presented the effects of fears of failure in the international entrepreneurial in the tourism industry and the relationship amongst them.

Findings

The first two fears are respectively “fears of future” which are caused by the unclear situation; and “fear of losing credit” that is due to the importance of “personal relationships” in Iranians culture. As pointed out by results, “fear of future” is the most effective group of factors that may lead to other fears too. This fear seems important in the international entrepreneurial tourism industry because of future ambiguity.

Originality/value

This study indicates the relations between groups of fears and offers some practical and applicable solutions to reduce these effects. To the best knowledge of the authors, analysing the relationship between fears amongst the entrepreneurs has not been investigated previously.

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Most cited references 59

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The Delphi technique: a worthwhile research approach for nursing?

H P McKenna (1994)

Since its introduction as a research approach in the late 1940s the Delphi technique has had over 1000 published research utilizations. Most of these have been in the field of social policy. However, a review of contemporary nursing literature suggests that it is becoming a popular choice among nurse researchers. With its focus on maximizing participant's judgements and decision-making abilities the Delphi technique is a useful tool in the research armoury of a young profession. However, questions remain about its scientific respectability. This paper gives an overview of what the Delphi technique is, the criteria for selecting it as a research approach, the studies where it has been used and its advantages and disadvantages.

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Startups in times of crisis – A rapid response to the COVID-19 pandemic

Andreas Kuckertz, Leif Brändle, Anja Gaudig … (2020)

Research summary The discovery of the coronavirus (SARS-CoV-2) and the spread of COVID-19 have led many governments to take drastic measures. The lockdown of large parts of society and economic life has come as an exogenous shock to many economic actors, not least innovative startups. This rapid response research combines a qualitative research design informed by entrepreneurial ecosystem actors with an analysis of policy measures called for, announced, and reportedly implemented in the international press. Interviews from an entrepreneurial ecosystem offer a first-hand account of the adversity startups face during a crisis and how by utilizing bricolage responses they cope, and the analysis of policy measures can serve as an inspiration to design support initiatives to protect startups from the consequences of the current lockdown and to alleviate the effects of future crises. Managerial summary The lockdown measures as a response to the spread of the new coronavirus threaten the existence of many innovative startups. Our rapid response research first illustrates the challenges entrepreneurs face as a consequence of the crisis. Second, we illustrate how entrepreneurs are dealing with the effects of the crisis and what they are doing to protect their ventures. Finally, we present measures that could be utilized by policymakers to assist entrepreneurs facing challenges. The research conducted suggests that while startups are successfully leveraging their available resources as a first response to the crisis, their growth and innovation potential are at risk. Therefore, policy measures should not only provide first aid to startups by alleviating the pressure caused by constrained cashflow, but also involve long-term measures embedded in and supported by the wider entrepreneurial ecosystem to ensure rapid recovery and growth.