Psychological Determinants of Entrepreneurial Success and Life-Satisfaction

Abstract

The presented study focused on different stages of the entrepreneurial process. The first group comprised those starting a new business and the second group those who have been through the whole process of creating a new business and have now been operating in the market. The general aim of the article was to examine the relationship between action orientation, hope, goal commitment, entrepreneurial success, and life satisfaction, and to determine the role of psychological characteristics (hope, action orientation) in the entrepreneurial process. The hypotheses were tested on a sample of 344 potential entrepreneurs in the prelaunch stage and 127 actual entrepreneurs in the post-launch stage. To analyze these relationships, multiple-group analysis was conducted.

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