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Transgenerational entrepreneurship and survivability in rural economy

Transgenerational entrepreneurship is the new theoreticalperspective that introducing the family capability to transfer entrepreneurship for generations. This paper investigates the relationship between family business, entrepreneurship and the rural economy. 18 entrepreneurial families in Langkawi...

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Main Authors: M. Puzi, M. A., Ismail, Hairul Nizam, S. Jaafar, S. M. R.
Format: Conference or Workshop Item
Language:English
Published: 2020
Subjects:
HB615-715 Entrepreneurship. Risk and uncertainty. Property
Online Access:http://eprints.utm.my/id/eprint/91405/1/HairulNizamIsmail2020_TransgenerationalEntrepreneurshipandSurvivabilityinRural.pdf
http://eprints.utm.my/id/eprint/91405/
http://dx.doi.org/10.1088/1755-1315/447/1/012070
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spelling my.utm.914052021-06-30T12:16:07Z http://eprints.utm.my/id/eprint/91405/ Transgenerational entrepreneurship and survivability in rural economy M. Puzi, M. A. Ismail, Hairul Nizam S. Jaafar, S. M. R. HB615-715 Entrepreneurship. Risk and uncertainty. Property Transgenerational entrepreneurship is the new theoreticalperspective that introducing the family capability to transfer entrepreneurship for generations. This paper investigates the relationship between family business, entrepreneurship and the rural economy. 18 entrepreneurial families in Langkawi island were selected because this community capability to develop the island to be a tourism destination in Malaysia. Data collected through in-depth interviews and thematic analysis was applied. As a result, transgenerational tourism entrepreneurship dimensions were created which are; survivability mindset, smallness, family cumulative entrepreneurship experience, entrepreneurship molding and goal achievement. The first dimension is the survivability mindsetwhere business life is the family life-line. Smallness is the second dimension that emphasizes the size of the business that expands on the family capability. Following is the family cumulative family entrepreneurship experience from the founder to the young generation. The next dimension, entrepreneurship molding for entrepreneurship nurture and retirement. Lastly, family goalsare to achieveresiliency and new generation expansion. Hence, the family prefers long term plan with a low-risk investment to create sustainable economic development. Development planning for the economy should not treat the local community as the second option but empowering them to be sustainable entrepreneurs. 2020-03-03 Conference or Workshop Item PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/91405/1/HairulNizamIsmail2020_TransgenerationalEntrepreneurshipandSurvivabilityinRural.pdf M. Puzi, M. A. and Ismail, Hairul Nizam and S. Jaafar, S. M. R. (2020) Transgenerational entrepreneurship and survivability in rural economy. In: 1st International Conference on Planning towards Sustainability, ICoPS 2019, 6 November 2019 - 7 November 2019, Surakarta, Central Java Province, Indonesia. http://dx.doi.org/10.1088/1755-1315/447/1/012070
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic HB615-715 Entrepreneurship. Risk and uncertainty. Property
spellingShingle HB615-715 Entrepreneurship. Risk and uncertainty. Property
M. Puzi, M. A.
Ismail, Hairul Nizam
S. Jaafar, S. M. R.
Transgenerational entrepreneurship and survivability in rural economy
description Transgenerational entrepreneurship is the new theoreticalperspective that introducing the family capability to transfer entrepreneurship for generations. This paper investigates the relationship between family business, entrepreneurship and the rural economy. 18 entrepreneurial families in Langkawi island were selected because this community capability to develop the island to be a tourism destination in Malaysia. Data collected through in-depth interviews and thematic analysis was applied. As a result, transgenerational tourism entrepreneurship dimensions were created which are; survivability mindset, smallness, family cumulative entrepreneurship experience, entrepreneurship molding and goal achievement. The first dimension is the survivability mindsetwhere business life is the family life-line. Smallness is the second dimension that emphasizes the size of the business that expands on the family capability. Following is the family cumulative family entrepreneurship experience from the founder to the young generation. The next dimension, entrepreneurship molding for entrepreneurship nurture and retirement. Lastly, family goalsare to achieveresiliency and new generation expansion. Hence, the family prefers long term plan with a low-risk investment to create sustainable economic development. Development planning for the economy should not treat the local community as the second option but empowering them to be sustainable entrepreneurs.
format Conference or Workshop Item
author M. Puzi, M. A.
Ismail, Hairul Nizam
S. Jaafar, S. M. R.
author_facet M. Puzi, M. A.
Ismail, Hairul Nizam
S. Jaafar, S. M. R.
author_sort M. Puzi, M. A.
title Transgenerational entrepreneurship and survivability in rural economy
title_short Transgenerational entrepreneurship and survivability in rural economy
title_full Transgenerational entrepreneurship and survivability in rural economy
title_fullStr Transgenerational entrepreneurship and survivability in rural economy
title_full_unstemmed Transgenerational entrepreneurship and survivability in rural economy
title_sort transgenerational entrepreneurship and survivability in rural economy
publishDate 2020
url http://eprints.utm.my/id/eprint/91405/1/HairulNizamIsmail2020_TransgenerationalEntrepreneurshipandSurvivabilityinRural.pdf
http://eprints.utm.my/id/eprint/91405/
http://dx.doi.org/10.1088/1755-1315/447/1/012070
_version_ 1705056708910383104
score 13.211869

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