Applying “attribution theory” to determine the factors that lead to the failure of entrepreneurial ventures in Colombia (original) (raw)

Journal of Small Business and Enterprise Development, 2017

Abstract

Purpose The purpose of this paper is to use attribution theory to identify the factors that contribute to the failure of entrepreneurial ventures in Colombia. Design/methodology/approach The research study upon which this paper is based involved an online survey. A total of 324 Colombian entrepreneurs who had experienced business failure answered this survey. The study included six factors (financial, organizational, marketing, external environment, operational, and human resources) with their respective attributions as well as a personality test and segmentation questions. Two multivariate techniques were used (principal component analysis and a multinomial distribution model) to analyze the results of the survey. Findings The results showed that the principal attributions of failure for Colombian entrepreneurs were financial and organizational issues, the external environment, and marketing. Specific sub-issues included insufficient income generated to maintain the business, lack ...

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