Does entrepreneur's self-compassion improve the family-owned small business's performance?
The present study intends to investigate the influence of entrepreneurs' self-compassion (i.e., self-judgment, selfisolation, and mindfulness) on family-owned small business (F-OSB) performance during the pandemic. A conceptual model with self-judgment, self-isolation, mindfulness (formative co...
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| Main Authors: | , , , |
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| Format: | Article |
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SCMS Group of Educational Institutions
2022
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| Subjects: | |
| Online Access: | http://eprints.um.edu.my/44120/ |
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| Summary: | The present study intends to investigate the influence of entrepreneurs' self-compassion (i.e., self-judgment, selfisolation, and mindfulness) on family-owned small business (F-OSB) performance during the pandemic. A conceptual model with self-judgment, self-isolation, mindfulness (formative constructs), and F-OSB performance (reflective construct) was based on three hypotheses. Primary data (n=227) was collected from entrepreneurs designated as CEO, Chairman, or managing directors in F-OSBs in Pakistan. The study used Partial Least Square Structural Equation Modelling (PLS-SEM) through Smart-PLS software version 3.3.2. First, the reliability and validity of the constructs were tested. In the next step bootstrapping to test the hypothesis was implemented. Selfcontrol theory is used to explain the conceptual model. Results revealed that self-judgment and self-isolation have a significant negative while mindfulness has a significant positive association with F-OSB performance. The research contributed to literature and theory and has a post-pandemic practical contribution. First, the study filled a research gap by investigating the relationship between self-compassion and F-OSB performance. Second, this study contributed to the self-control theory by explaining the aforementioned relationship in the F-OSB context. Third, the results implied that, along with vaccination and financial support by the governments, F-OSB entrepreneurs must be provided psychological training sessions to cope with the negative effects of self-judgment and self-isolation due to lockdowns. Thus, F-OSB entrepreneurs not only perform well after COVID and become psychologically strong to take vigilant and calculated initiative for their businesses' and families' betterment. © 2022 SCMS Group of Educational Institutions. All rights reserved. |
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