Mediating Effect of Opportunity Recognition Among Entrepreneurial Alertness, Mentoring, & Number of Mentoring on New Ventures' Performance

기업가적 기민성과 멘토링 및 멘토링 횟수와 기업성과 관계에서 기회인지의 매개효과 영향

  • 박미정 (세명대학교 교양대학/ 창업지원단) ;
  • 이선호 (벤처박스) ;
  • 황보윤 (국민대학교 글로벌창업벤처대학원)
  • Received : 2021.05.10
  • Accepted : 2021.08.16
  • Published : 2021.08.31

Abstract

The Korean government is currently expanding the business startup incubator support program and funds for new ventures with innovative technology in order to spread the second venture boom. However, despite the fact that entrepreneurial education and mentoring that entrepreneurs should have are important parts for the sustainable growth of the startup, some companies selected for government support programs are reluctant to participate in programs such as entrepreneurship education and mentoring for the sole purpose of funding commercialization. This research addressed the effects of entrepreneurial alertness with opportunity awareness as its medium and the small business mentoring service along with the number of times the mentoring has taken place, on the corporate performances. The results of empirical research are as follow: the first one is that scanning-search and evaluation-judgment can influence a company's performance (financial, non-financial) through opportunity recognition, with the exception of association-connection, which is a sub-factor of entrepreneurial alertness. Secondly, it was found to affect a company's financial and non-financial performance through opportunity recognition for financing mentoring, technical support mentoring, and management support mentoring. Thirdly, it was found that the number of mentoring also affects the financial and non-financial performance of a company through opportunity recognition. The implications of this study are that it should be revisited that program managers consider rooms that do not violate the startup founder's strategic decision-making opportunities when designing and operating the program as entrepreneurial alertness sub-factor association-connection does not affect corporate performance through opportunity recognition. This study also emphasizes the need for customized mentoring to meet the outcome goals of each startup, as it has been empirically clarified that the mentoring provided to the startup by the government's support is important. The contribution of this research is that entrepreneurial alertness and opportunity recognition that are treated as important components in research for entrepreneurship, and the factors of mentoring and mentoring frequency that are recognized as important elements in the practical aspect of startup business are clarified theoretically and empirically as an influential factor in corporate performance. And this study also provide a rationale for the startup business support agency supplying mentoring.

최근 정부는 제2 벤처 붐 확산을 위해 창업지원 프로그램을 확대하고 지원 규모도 늘리고 있다. 그러나 창업기업의 지속적인 성장을 위해서는 창업가가 갖추어야 할 기업가정신 교육이나 멘토링이 중요한 부분임에도 불구하고 정부 지원프로그램에 선정된 기업 중 일부에서는 사업화 자금만을 목적으로 하고 기업가정신 교육이나 멘토링 등의 프로그램 참여를 기피하는 현상이 나타나고 있는 실정이다. 본 연구는 정부 창업지원사업에 선정된 창업기업을 대상으로 제공되고 있는 멘토링의 내용과 횟수, 그리고 기업가적 기민성이 기회인지를 매개로 기업의 성과에 미치는 영향에 관해 연구함으로써 기업가적 기민성과 멘토링 프로그램의 중요성을 강조하고자 한다. 본 연구 실증분석에 따르면 첫째, 기업가적 기민성의 하위요인인 연합-연결력을 제외하고는 관찰-탐색력과 평가-판단력은 기회인지를 매개로 기업의 성과(재무, 비재무)에 영향을 미치는 것으로 나타났다. 둘째, 자금조달, 기술지원, 경영지원 멘토링은 기회인지를 매개로 기업의 재무 및 비재무성과에 영향을 주는 것으로 나타났다. 셋째, 멘토링 횟수 또한 기회인지를 매개로 기업의 재무, 비재무성과에 영향을 주는 것으로 나타났다. 본 연구의 시사점은 기업가적 기민성 하위요인 중 연합-연결력이 기회인지를 매개로 기업성과에 영향을 주지 않는 것으로 볼 때 프로그램 운영자들이 프로그램 설계와 운영시 창업자의 전략적 의사결정 기회를 침해하지 않는 방안에 대해 고려해야 한다는 것을 재점검해 볼 필요가 있다. 또한, 정부 창업지원 사업에서 창업기업에 제공되는 멘토링이 중요하다는 것이 실증적으로 규명된 만큼 각 창업기업의 성과목표에 맞는 맞춤형 멘토링이 필요하다는 것을 강조할 수 있다. 본 연구의 기여점은 기업가정신에 관한 연구에서 핵심 구성 요소로 다루어지고 있는 기업가적 기민성과 기회 인지, 그리고 실무적 측면에서 창업기업 성과에 중요한 요소로 인식되는 멘토링과 멘토링 횟수에 대한 요인들을 기업성과 영향 요인으로 이론적 실증적으로 규명하였다는 점이다. 아울러 멘토링을 지원하는 창업기업 지원 기관들에게 논리적 근거를 제시하였다는 것이다.

Keywords

References

  1. Adomako, S., Danso, A., Boso, N. & Narteh, B.(2018). Entrepreneurial alertness and new venture performance: Facilitating roles of networking capability. International Small Business Journal, 36(5), 453-472. https://doi.org/10.1177/0266242617747667
  2. Ahn, S. G.(2016). A Study on the Factors Affecting the Performance of Technology, Seoul, Korea Institude of S&T Evaluation and planning.
  3. Ardichvili, A., Cardozo, R. N., & Ray, S.(2003). A Theory of Entrepreneurial Opportunity Identification and Development, Journal of Business Venturing, 18(1), 105-123. https://doi.org/10.1016/S0883-9026(01)00068-4
  4. Bang, H. M., & Jeon, I. O.(2015). A study on the Effect of Mentoring Skills and Mentoring Functions on Initial Start-up Performance and Satisfaction. The Journal of the Korea Contents Association, 15(5), 444-454. https://doi.org/10.5392/JKCA.2015.15.05.444
  5. Baron, R. A.(2006). Opportunity Recognition as Pattern Recognition: How Entrepreneurs Connect the Dot to Identify New Business Opportunities, Academy of Management Perspectives, 20(1), 104-119. https://doi.org/10.5465/amp.2006.19873412
  6. Baron & Kenny(1986). The Moderate-mediator variable distinction in social psychological research: conceptual, strategic, and statistical consideration, Journal of Personality and Social Psychology, 51, 1173-1182. https://doi.org/10.1037/0022-3514.51.6.1173
  7. Bird, B.(1988). Implementing Entrepreneurial Ideas: The Case for Intention, Academy of Management Review, 13(3), 442-453. https://doi.org/10.5465/AMR.1988.4306970
  8. Busenitz, L. W.(1996). Research on entrepreneurial alertness. Journal of Small Business Management, 34(4), 35-44.
  9. Choi, M. J., & Park, J. W.(2017). The Effect of Entrepreneurship Education on Opportunity Recognition and Evaluation: A Focus on Small Business Entrepreneurs, Asia-Pacific Journal of Business Venturing and Entrepreneurship, 12(3), 135-146. https://doi.org/10.16972/apjbve.12.3.201706.135
  10. De Koning, A.(1999). Conceptualizing Opportunity Recognition as a Socio-Cognitive Process, Sweden. Centre for Advanced Studies in Leadership, Stockholm,
  11. Gaglio, C. M., & Katz, J. A.(2001). The psychological basis of opportunity identification: Entrepreneurial alertness. Small Business Economics, 16(2), 95-111. https://doi.org/10.1023/A:1011132102464
  12. George, N. M., Parida, V., Lahti, T., & Wincent, J.(2016). A Systematic Literature Review of Entrepreneurial Opportunity Recognition: Insights on Influencing Factors, International Entrepreneurship and Management Journal, 12(2), 309-350. https://doi.org/10.1007/s11365-014-0347-y
  13. Govindarajan, V.(1984). Appropriateness of accounting data in performance evaluation: an empirical examination of environmental uncertainty as an intervening variable. Accounting, Organizations and Society, 9(2), 125-135. https://doi.org/10.1016/0361-3682(84)90002-3
  14. Guardians mentorship(2016). Mentoring Guidebook1.0, Seoul; Youth Business International.
  15. Jo, J. H., & Park, J. Y.(2017). The Development and Validation Study of the Entrepreneurial Mentoring Scale. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 12(5), 66-77.
  16. Kaish, S., & Gilad, B.(1991). Characteristics of opportunities search of entrepreneurs versus executives: sources, interests, general alertness, Journal of Business Venturing, 6(1), 45-61. https://doi.org/10.1016/0883-9026(91)90005-X
  17. Kang, B. O., & Kim J. S.(2010). An Empirical Study on the Influence of Franchisors Company Owned Outlet before Franchising to Franchisors Current Performance, Journal of the Korea Academia-Industrial cooperation Society, 11(9), 3210-3222. https://doi.org/10.5762/KAIS.2010.11.9.3210
  18. Kang, J. H., & Yang, D. W.(2016). A Study on Effect of the University Student's Entrepreneurship on Entrepreneurial Self-efficacy and Entrepreneurial Intention: Focusing on Mediating Effect of Opportunity Recognition, Journal of the Korea Academia-Industrial cooperation Society, 17(1), 493-507. https://doi.org/10.5762/KAIS.2016.17.1.493
  19. Kim, B. J.(1990). The influence of strategic adaptability to market dynamism on performance in Korean consumer packaged goods markets. Doctoral Dissertation, Graduate School of Korea University.
  20. Kim, C. K.(2011). A study on the operating performance factor of the BI's tenant. The Proceedings of Academic Conference ot the Korean Academic Association of Business Administration, 171-190.
  21. Kim, K. H., & Kim, Y. T.(2014). Effects of Start-up Mentoring Educational Factors on Satisfaction with Start-up Education and Start-up Intention. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 9(5), 33-41.
  22. Kim, M. O.(2002). Designing e-Mentoring System for Office Professionals, Journal of Secretarial Sciences, 123-134.
  23. Kim, R. H., & Kim, E. K.(2019). The Impact of Perception of Entrepreneurial Opportunity on the Entrepreneurial Intention of University Students: Focusing on the Moderating Effect of Global Mindset. Journal of the Korean Entrepreneurship Society, 14(2), 57-83.
  24. Kim, W. Y., Kim, H. G., & Hwang, B. Y.(2018). Impact Factors of Entrepreneurial Alertness, Asia-Pacific Journal of Business Venturing and Entrepreneurship, 13(1), 1-10. https://doi.org/10.16972/apjbve.13.1.201802.1
  25. Kim, Y. M., & Kim, S. J.(2013). Role of Initial Assets: Entrepreneurs' Attempts to link the Startup Firms to the Environment and their Impacts on firm Survival. Journal of Strategic Management, 16(2), 1-22. https://doi.org/10.17786/jsm.2013.16.2.001
  26. Kirzner, I. M.(1973). Competition and entrepreneurship. Chicago, The University of Chicago Press.
  27. Kirzner, I. M.(1979). Perception, opportunity, and profit, Chicago, The University of Chicago Press.
  28. Kirzner, I. M.(1999). Creativity and/or alertness: a reconsideration of the Schumpeterian entrepreneur. Review of Austrian Economics, 11(1), 5-17. https://doi.org/10.1023/A:1007719905868
  29. Korea Institute of Startup & Entrepreneurship Development(2011). 「Development of analysis models and indicators related to revitalization of local start-up ecosystem and performance indicators of local start-up infrastructure establishment and operation」, Daejeon, Korea, Ministry of SMEs and Startups
  30. Korea Institute of Startup & Entrepreneurship Development(2019). 「A Study on the Promotion of Global Start-ups」, Daejeon, Korea,, Ministry of SMEs and Startups
  31. Kram, K. E.(1983). Phases of the mentor relationship, Academy of Management Journal, 26(4), 608-625. https://doi.org/10.2307/255910
  32. Kwak, D. S., & Jung, C. H.(2020). Effects of Mentor's Competency and Mentoring Functions on Multi-Dimensional Trust and Entrepreneurship Intention. Journal of the Korean Entrepreneurship Society, 15(2), 119-137.
  33. Lee, H. G., & Lee, I. H.(2017). The Impact of CEO's Alertness to Opportunity on Product Innovation : Moderating Effect of Experience and Firm Age. Journal of the Korean Entrepreneurship Society, 12(4), 27-49.
  34. Lee, S. T.(2006). Effects of the Technology Innovation and the Market Orientation on the Management Performance in Small and Medium Inno-Biz Enterprises. Doctoral Dissertation, Graduate School of Changwon University.
  35. Lee, W. J., Son, J. S., & Oh, H. M.(2018). Relationship between Entrepreneurial Education and Entrepreneurial Opportunity Recognition: Focused on the Entrepreneurship Major College Students. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 13(3), 71-83. https://doi.org/10.16972/apjbve.13.3.201806.71
  36. Levinson, D. J.(1978). The seasons of a man's life, Random House Digital.
  37. McMullen, J. S., & Shepherd, D. A.(2006). Entrepreneurial Action And The Role Of Uncertainty In The Theory Of The Entrepreneur, Academy of Management Review, 31(1), 132-152. https://doi.org/10.5465/AMR.2006.19379628
  38. McNair, C. J., Lynch, R. L., & Cross, K. F.(1990). Do financial and non-financial measures have to agree? Management. Accounting, 72(5), 28-36.
  39. Ministry of Science, ICT and Future Planning(2017). A study of policy for continuing start-up activation and completing local economy ecosystem, Seoul, Korea, Ministry of Science, ICT and Future Planning
  40. Ministry of SMEs and Startups(2019). A Survey on Mentoring Start-up Education, Korea Institute of Startup & Entrepreneurship Development, Daejeon, Korea, Korea Institute of Startup & Entrepreneurship Development
  41. Mintzberg, H.(1990). Strategy formulation: School Of thought. in. W. Frederickson(ed), Perspectives on strategic Management, New York, Harper Business.
  42. Mitchell, R. K., Busenitz, L., Bird, B., Gaglio, C. M., McMullen, J., Morse, E. & Smith, B.(2007). The central question in entrepreneurship cognition research. Entrepreneurship Theory and Practice, 31(1), 1-27. https://doi.org/10.1111/j.1540-6520.2007.00161.x
  43. Mok. S. C.(2020). The Effect of Entrepreneurial Alertness on Opportunity Recognition : A Focus on the Moderating Effect of Regulatory Focus. Master's thesis Dongguk University,
  44. Mok, Y. D., & Choi, M. G.(2012). A Study on the Entrepreneurship Curriculum Development Model to Systemize Entrepreneurship Education in Undergraduate School. Korea Journal of Business Administration, 25(2), 833-857.
  45. Moon, S. Y., & Hwang, B. Y.(2011). An Empirical Study on Start-up Opportunity Sources Analysis and Opportunity Search of Korean Young Entrepreneurs - Focused on a participants of Seoul Young Entrepreneurs 1000 Project. The proceedings of Conference of the Korean Society of Business Venturing, 103-126.
  46. Murphy, P. J.(2011). A 2×2 conceptual foundation for entrepreneurial discovery theory. Entrepreneurship Theory and Practice, 35(2), 359-374. https://doi.org/10.1111/j.1540-6520.2010.00368.x
  47. Park, H. Y.(2018). The effects of entrepreneurial alertness of cultural ventures on firm performance ; Moderating effect of government policy. Doctoral Dissertation, Graduate School of Hanyang University.
  48. Park, Y. H.(2004). Tasks for the Promotion of Entreneurship Education in Vocational High Schools. The Journal of Vocational Education Research, 23(3), 83-110.
  49. Park, Y. H., & Kim, Y. T.(2014). A Study on the Effect of Mentoring on the Entrepreneurial and Management Performance. The Journal of Business Education, 28(5), 513-528.
  50. Ray, S., & Cardozo, R.(1996). Sensitivity and creativity in entrepreneurial opportunity recognition: a framework for empirical investigation, Presented at the Sixth Global Entrepreneurship Research Conference, London, Imperial College.
  51. Sarasvathy, S. D., Dew, N., Velamuri, S. R. & Venkataraman, S.(2003). Three Views of Entrepreneurial Opportunity, in Handbook of Entrepreneurship Research, Boston, MA.
  52. Shane, S.(2000). Prior Knowledge and the Discovery of Entrepreneurial Opportunities, Organization Science, 11(4), 448-469. https://doi.org/10.1287/orsc.11.4.448.14602
  53. Shane, S., & Nicolaou, N.(2015). Creative Personalty, Opportunity Recognition and The Tendency to Start Business: A Study of Their Genetic Predispositions, Journal of Business Venturing, 30(3), 407-419. https://doi.org/10.1016/j.jbusvent.2014.04.001
  54. Shane, S., & Venkataraman, S.(2000). The Promise of Entrepreneurship as a Field of Research, Academy of Management Journal, 25(1), 217-226.
  55. Shane, S.(2003). A General Theory of Entrepreneurship: The Individual-opportunity Nexus. Cheltenham, U.K.: Edward Elgar.
  56. Shin, G. S., Yang, Y. S., & Kim, M. S.(2017). The Influence on the Level of Satisfaction Performance by Incubating Service on the Stage Growth of Firms, The proceedings of Conference of the Korean Society of Business Venturing, 43.
  57. Sour, R., & Rasmussen, S.(2003). Butterfly Power in the Art of Mentoring Deaf and Hard of Healing College Students, Mentoring and Tutoring, 11(2), 255-272.
  58. Statistics Korea(2018). Corporate Death Administrative Statistics, , Daejeon, Korea, Statistics Korea.
  59. St-Jean, E.(2011). Mentor Functions for Novice Entrepreneurs, Academy of Entrepreneurship Journal, 17(1), 65-84.
  60. St-Jean, E., & Mathieu, C.(2015). Developing Attitudes toward an Entrepreneurial Career through Mentoring: The Mediating Role of Entrepreneurial Self-Efficacy, Journal of Career Development, 42(4), 325-338. https://doi.org/10.1177/0894845314568190
  61. Tang, J., Kacmar, K. M., & Busenitz, L.(2012). Entrepreneurial alertness in the pursuit of new opportunities, Journal of Business Venturing, 27(1), 77-94. https://doi.org/10.1016/j.jbusvent.2010.07.001
  62. Uy, M. A., Chan, K. Y., Sam, Y. L., Ho, M. H. R., & Chernyshenko, O. S.(2015). Proactivity, adaptability and boundaryless career attitudes: The mediating role of entrepreneurial alertness, Journal of Vocational Behavior, 86, 115-123. https://doi.org/10.1016/j.jvb.2014.11.005
  63. Venkataraman, S.(1997). The Distinctive Domain of Entrepreneurship Research, in Advances in Entrepreneurship, Firm Emergence, and Growth, 3, Katz, J.A. ed., Greenwich, CT: JAI Press.
  64. Wang, Y., Ellinger, A. D., & Wu, Y. J.(2013). Entrepreneurial Opportunity Recognition: An Empirical Study of R&D Personnel, Management Decision, 51(2), 248-266. https://doi.org/10.1108/00251741311301803
  65. Wasdani, K. P., & Mathew, M.(2014). Potential for Opportunity Recognition: Differentiating Entrepreneurs, International Journal of Entrepreneurship and Small Business, 23(3), 336-362. https://doi.org/10.1504/IJESB.2014.065526
  66. Won, J. H.(2016). The Effect on Entrepreneurial Characteristics of Small Business Management Performance. Journal Finance and Accounting Information, 10(1), 16-17.
  67. Yang, Y. S.(2015). The Policy Alternative of Launching Micro VC Fund in Korea Against an Overwhelmed 'Series A Crunch' Issues as to the Early Venture Investment at Startup Stage. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 10(4), 39-47. https://doi.org/10.16972/apjbve.10.4.201508.39
  68. You, S. O.(2019). The Influence of the Characteristics of Start-ups on the Performance of Start-up Firms : Based on the Mediated Effects of Start-up Behavio. The Journal of the Korea Contents Association, 9(10), 165-178.
  69. Yun, H. B.(2015). The Effects of Enterprise Characteristics in Technology-based Startups on Business Performance. Doctoral Dissertation, Graduate School of Joong-Ang University.
  70. Yun, H. S., & Shin, J. H., Kim, G. J., & Kim, C. Y.(2013). A Study on the Effects of Core Ability of Golf Club and the Appropriateness of Competitive Strategy on the Business Outcome. Journal of The Korean Data Analysis Society, 15(4), 2245-2255.