From the distribution of 254 questionnaires, a total of 239 completed questionnaires return with the yield of 94.1%. Cronbach’s alpha reliability test had been conducted on all dimensions which are entrepreneurial competency, social capital, past experience, knowledge, opportunity identification, and opportunity creation.
Results had indicated that all dimensions are within the acceptable range of 0.67 and above. The descriptive statistical analysis had shown that among all the factors identified, entrepreneurial competency had the highest mean value of 4.15. Hence this indicates that respondents had agreed with entrepreneurial competency. The lowest mean is shown by past experience with 3.40, but overall respondent had agreed on identified factors (Table 6.1).
In accordance with Table6.2, the descriptive statistics showed that continuous learning as the highest mean value of 4.34 for the entrepreneurial competency factor with the lowest standard deviation 0.653. In addition, other items such as self-confidence, risk taking, problem solving also have high mean value ranging from 4.04 to 4.15.
On the other hand, Table6.3has shown that the item communicate with other people had the highest mean score of 4.10 for the factor of social capital. In addition, the standard deviation for the item is 0.885. Likewise, mean value for other items is also above neutral which are near to agree ranging from 3.44 to 3.94.
The items are relationship with family, relationship with friends, social media engagement, and relationship with organization.
In Table6.4, the descriptive statistics on past experience factor indicated that previous working tasks item had the highest mean value of 4.08 with the lowest
Table 6.1 Descriptive
statistic analysis Descriptive statistics
Factors N Mean
Entrepreneurial competency 239 4.15
Social capital 239 3.80
Past experience 239 3.40
Knowledge 239 3.80
Total 239 3.78
Table 6.2 Entrepreneurial
competency factor Descriptive statistics
Items N Mean Std. Deviation
1. Understanding others 239 4.11 0.750 2. Self-confidence 239 4.15 0.700 3. Continuous learning 239 4.34 0.653
4. Risk taker 239 4.04 0.824
5. Solve problem 239 4.10 0.849
Total 239
standard deviation of 0.827 compared to other items. The other items which are specific product and service, part-time business, and business skills accorded the mean value of above 3.00 ranging 3.34 to 3.72. In contrast, previous business problems mean value is below 3.00 at 2.77 and standard deviation of 1.263.
With reference to Table6.5, descriptive statistics for the item formal learning in the knowledge factor indicated that the item formal learning had the highest mean Table 6.3 Social capital factor
Descriptive statistics
Items N Mean Std. Deviation
6. Relationship with family 239 3.44 0.976
7. Relationship with friends 239 3.79 0.878
8.Communicate with people 239 4.10 0.885
9. Social media engagement 239 3.94 0.939
10. Relationship with organization 239 3.74 0.975
Total 239
Table 6.4 Past experience factor Descriptive statistics
Items N Mean Std. Deviation
11.Previous working tasks 239 4.08 0.827
12. Specific product and service 239 3.72 0.864
13. Part-time business 239 3.29 1.173
14. Previous business problem 239 2.77 1.263
15. Business skills 239 3.34 1.159
Total 239
Table 6.5 Knowledge factor Descriptive statistics
Items N Mean Std. Deviation
16. Learning by interacting with others 239 3.99 0.775
17.Formal learning 239 4.06 0.742
18. Learning from my family 239 3.50 1.037
19. Learning from my friends 239 3.78 0.887
20. Learning from my mentor 239 3.64 1.154
Total 239
6 Factors that Contributes Towards Opportunity Creation… 61
value of 4.06 and the lowest standard deviation of 0.742. Nevertheless, the other items which are learning by interacting with others, learning from friends, learning from my mentor and learning from my family are above 3.00 ranging from 3.50 to 3.99 mean value.
Based on Table6.6, all correlation between the opportunity identification and the identified factors which are entrepreneurial competency, social capital, past experience and knowledge is positively significant. According to Guttmann rules of thumb, the correlation is positively significant, but the relationship is weak at p = 0.375 for entrepreneurial competency. However, for social capital and knowledge, relationship is moderately strong which are p = 0.461 and p = 0.494, respectively. On the other hand, the result shows the respondent experience has a strong and positive correlation relationship at p = 0.616 with opportunity identifi- cation. Hence, the result shows that there are strong tendency for the respondent to capitalize past experience to identify entrepreneurial opportunity. Baron (2006) indicated that individuals gain experience in a particular domain, their prototypes and other cognitive frameworks do indeed become more clearly defined, richer in content, and more focused on key attributes of that content domain (Fig.6.1).
Based on Table6.7, all correlation values between the opportunity creation and the identified factors which are entrepreneurial competency, social capital, past experience and knowledge are positively significant. According to Guttmann rules of thumb, the correlation for entrepreneurial competency is positively significance, but the relationship is weak at p = 0.313. In addition, the result also shows the respondent knowledge, social capital, and past experience have a moderate positive Table 6.6 Pearson’s correlation between opportunity identification and identified factors
Factors Correlation Opportunity identification
Entrepreneurial competency Pearson’s correlation 0.375a Sig. (two-tailed) 0.000
N 239
Social capital Pearson’s correlation 0.461a Sig. (two-tailed) 0.000
N 239
Past experience Pearson’s correlation 0.616a Sig. (two-tailed) 0.000
N 239
Knowledge Pearson’s correlation 0.494a
Sig. (two-tailed) 0.000
N 239
aCorrelation is significant at the 0.01 level (two-tailed)
relationship ranging from p = 0.506, p = 0.473 and p = 0.460 accordingly.
Kuivaniemi (2010) has mentioned that the idiosyncratic knowledge and information creates an individual knowledge corridor which it enables people to recognize and create opportunity (Fig.6.2).
Fig. 6.1 Framework of factors that contribute to opportunity identification
Table 6.7 Pearson’s correlation between opportunity creation and identified factors
Factors Correlation Opportunity creation
Entrepreneurial competency Pearson’s correlation 0.313a Sig. (two-tailed) 0.000
N 239
Social capital Pearson’s correlation 0.473a
Sig. (two-tailed) 0.000
N 239
Past experience Pearson’s correlation 0.460a Sig. (two-tailed) 0.000
N 239
Knowledge Pearson’s correlation 0.506a
Sig. (two-tailed) 0.000
N 239
aCorrelation is significant at the 0.01 level (two-tailed)
6 Factors that Contributes Towards Opportunity Creation… 63