Factors Modulating Entrepreneurial Mindset: An Empirical Analysis of Small Traders in Odisha
Sidhant Mohanty1, Srinibash Dash2
1Sidhant Mohanty, Ph.D. Scholar in School of Commerce and Management, G.M.University, Amruta Vihar, Sambalpur, Odisha.
2Srinibash Dash, Faculty of School of Management, G.M. University SAMBALPUR, Odisha, India.

Manuscript received on November 11, 2019. | Revised Manuscript received on November 20 2019. | Manuscript published on 30 November, 2019. | PP: 10784-10796 | Volume-8 Issue-4, November 2019. | Retrieval Number: D4349118419/2019©BEIESP | DOI: 10.35940/ijrte.D4349.118419

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Abstract: Generally the entrepreneurship is the process of utilizing the allocated resources in such a way that it makes profit maximization without incurring any loses. It depends to the skill, ability, leadership quality and the mid set of the entrepreneur toward new ventures. The proposed study is an explorative on to measure the real of mindset of the small traders and factors influence the mind set for set up new business. To map mind set of entrepreneur, standard questionnaire has been used added 34 variables with the aid and advice of the expertise in this field followed by the well structured research methodology. Further, to carry out the study, descriptive statistics informed the data consistency and outlier of data and Cronbach’s Alpha score informed the data reliability and sensitivity of the added variables. In this context, the all hypothesis of the study rejected h ANOVA techniques. In the preliminary discuss It has been found that learning ability, problem solving ability/logical thinking, ability to analyze market, ability to manage complex tasks and ability to engage stakeholder’s factors are excellent whereas others factors such that curiosity, creation of value and ability to anticipate technology having lots of scope for further developemnt for influencing the mid set of entrepreneur. In contrary, multivariate analysis suggested that entrepreneurial mindset is not a one-dimensional concept but is made up of several “factors” and hence it is considered multi-dimensional factors for positively push forward the perception of entrepreneur mind. Finally, it is suggested that action to satisfy by curiosity rather than sit ideal, and creation of the value is possible for the care of the customer and stakeholders of the business. Through learning ability, the entrepreneurs modify existing knowledge, skill and behavior which positively influence the mindset of a person. It has been suggested that entrepreneurs solve their problems in adverse situation by applying problem solving ability/logical thinking’. Whereas ability analyze market help entrepreneur to collect and analyze market information, evaluate alternatives and make the most suit able decision that will suit the prevailing market conditions. Apart from that through multivariate analysis, it has been suggested that the small traders in odisha would like to give priority of the following components such that 1) problem solving ability/logical thinking, 2) learning ability, 3) creation of value, 4) ability to manage complex tasks, 5) ability to engage stakeholders, 6) ability to analyze market, 7) criosity and 8) ability to anticipate technology for better way manage their business. Key Words:
Keywords: Curiosity and Creation of Value Through Learning Ability, Logical Thinking and Ability To Manage Complex Tasks, Stakeholders and Anticipate Technology.
Scope of the Article: Predictive Analysis.