Firos et al.: Human capitalization towards entrepreneurship effectiveness
- 27 -
QUANTUM JOURNAL OF SOCIAL SCIENCES AND HUMANITIES 1(5): 27-32.
http://www.qjssh.com
© 2020 Quantum Academic Publisher
HUMAN CAPITALIZATION TOWARDS ENTREPRENEURSHIP
EFFECTIVENESS
FIROS, M.
1*
– SHARON, G.
2
– SAZLINA, Z.
3
1
Faculty of Economics and Administration, University of Malaya, Malaysia.
2
Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah, Malaysia.
3
Faculty of Information Management, Universiti Technology of MARA, Malaysia.
*Corresponding author
e-mail: phdum2020@gmail.com
(Received 24
th
October 2020; accepted 18
th
November 2020)
Abstract. With increased emphasis being placed on entrepreneurial thinking and acting in today's
businesses, human capitalization growing over the last two decades. The present study provides a
systematic review of the literature on the theoretical foundations, measurement, antecedents, and
outcomes of EA, ESE and social support. Based on the review, an agenda for future research is developed
and implications for entrepreneurship education and training highlighted. In doing so, the need to
consider alternative theoretical perspectives to improve understanding of how human capitalization
growing influences outcomes at different levels of analysis is highlighted. In addition, the review
identifies a need to examine the success factors which drive short-term fluctuations and long-term
changes in small business.
Keywords: human capital, self-efficacy, training, attitude, social support
Introduction
How individuals think and act in businesses is becoming an interesting matter for
scholars, educators and policy makers to know who seek help either individually or
inside the organizations on business success. In entrepreneurial research, the process of
discovery, creations, evaluation and use of opportunities for the development of product
and services is generally described as entrepreneurship. As individuals are increasingly
facing uncertain career paths, needed for attitude shaping, self-efficacy and social
support at the secure stage before entering entrepreneurial field (Yoon et al., 2020;
Zacher and Johnson, 2015; Antoncic and Hisrich, 2001). While researchers claim that
the positive impact of entrepreneurial success decreased and only the smaller percentage
of active entrepreneurial start-ups have the ability to generate employment opportunities
driven by effective resources allocation (Yoon et al., 2020). In addition,
entrepreneurship skills were highlighted as part of the overall skills required to succeed
in modern competitive occupations (Savickas et al., 2009), e.g. to handle your career in
an unpredictable setting and adapt to new technological changing opportunities.
In other words, entrepreneurial attitude and self-efficacy, which refers to an
individual's confidence in his/her ability to accomplish tasks and functions aimed at
entrepreneurial results might enable people to grow their personal and productive career
as a means to push significant societal changes (Yoon et al., 2020). Although
researchers have studied the overall impact of the success method (a global perception
of a capacity to solve any entrepreneurial tasks), most scholars believe that self-efficacy
is a domain and specific ability in entrepreneurial success factor (Yoon et al., 2020;