New Venture Creation: Entrepreneurship for the 21st Century

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Cooper, A. C., & Bruno, A. V. (1977). Success among high-technology firms. In Business Horizons. https://doi.org/10.1016/0007-6813(77)90096-9 This Recognition of Prior Learning may allow for:• Accelerated access to further learning at this or higher levels on the NQF

Schlaegel, C., & Koenig, M. (2014). Determinants of entrepreneurial intent: A meta-analytic test and integration of competing models. Entrepreneurship Theory and Practice, 38(2), 291–332. https://doi.org/10.1111/etap.12087 H 6 In nascent entrepreneurs, structural social capital is positively associated with new venture intention or creation. Terblanche, N.S.; Keyter, L. (1997). Creative Entrepreneurship. Pretoria, South Africa. Kagiso TertiaryAjzen, I. (1987). Attitudes, traits, and actions: Dispositional prediction of behavior in personality and social psychology. Advances in Experimental Social Psychology. https://doi.org/10.1016/S0065-2601(08)60411-6

Tendering opportunities are identified and pursued according the new venture capacity and resources. Capelleras, J., Greene, F. J., & Kantis, H. (2010). Growth: Evidence from South America. Journal of Small Business Management, 48(3), 302–324. Furthermore, considering the idea presented in the study carried out by Obschonka ( 2011), Venessar et al. ( 2014) on age and entrepreneurial education, and the paper on risk-taking by Shook et al. ( 2003b), Basinska and Daderman ( 2018) develop an experiment to examine in young adults during entrepreneurship-related education the relationships between risk-taking and self-efficacy, and the mediating effects of emotions and attitudes (resilience, self-confidence, attentiveness). The method used by the authors was applied to 153 individuals (mean age 22 years), collecting information on risk-taking, general self-efficacy, attitudes, and emotions through questionnaires. The study used a bootstrap analysis with single and multiple mediators, controlled for gender, to estimate the indirect effects of attitudes and emotions on risk-taking and self-efficacy. The authors found that risk-taking was significantly correlated with self-efficacy. The attitudes of resilience and self-confidence, but not attentiveness, were complete mediators of the relationship between risk-taking and self-efficacy. Based on these findings, the authors argue that self-efficacy may be strengthened in young adults during entrepreneurship-related education and that emotions can lead to an attentive use of resources, including self-efficacy (Newman et al., 2019; Schmitt et al., 2018). In conclusion, these factors may encourage young people to be brave and try new experiences.

In this study, venture creation acts as a dependent variable, directly associated with the constructs of social capital, entrepreneurial self-efficacy, and person-entrepreneurship fit. Entrepreneurial self-efficacy (ESE) The structure of this Unit Standard based Qualification makes the Recognition of Prior Learning possible. Learner and Assessor will jointly decide on methods to determine prior learning and competence in the knowledge, skills, values and attitudes implicit in the Qualification and the associated Unit Standards. Recognition of Prior Learning will be done by means of an Integrated Assessment. Subsequently, Bird ( 1988) developed a model based on a discovery-oriented study, which attempts to explain the behavior of entrepreneurial ideas. Through 20 interviews with entrepreneurs (seven in service, eight in manufacturing, and five in marketing, with between 4 and 20 years of experience as entrepreneurs), she was able to identify distinct patterns of thinking and behavior. Subsequent analysis of transcripts and observer notes suggests that these patterns are relatively consistent across the entrepreneurs. Bird ( 1989) develops a second model to complement this study. This second model analyses the interaction between the personal and social context with rational and intuitive thinking while intending to create businesses or new values for existing businesses. According to Bird, the social context comprises the individual’s social, political, and economic environment (Turner et al., 1994; Webster & Ward, 2011), while the personal context is constructed through their personal history, personality development, and abilities (Bandura, 2002a; Noonan, 2019). In her conclusion, she argues that an entrepreneur's new intentions will be steeped in uncertainty and result from rational, analytical, and cause-and-effect thought processes or intuitive, holistic, and contextual thinking; these new intentions ultimately become entrepreneurial actions (Lubada et al., 2021; Urban, 2020). Marketing and selling processes are defined in accordance with requirements outlined in basic market research.

Aragon-Mendoza, J., del Val, M. P., & Roig-Dobón, S. (2016). The influence of institutions development in venture creation decision: A cognitive view. Journal of Business Research, 69(11), 4941–4946. https://doi.org/10.1016/j.jbusres.2016.04.056 Therefore, by associating entrepreneurial self-efficacy with new venture creation, after conceptualizing its dimensions, the following hypotheses are established: Pricing and costing principles are established in line with market needs and financial requirements. Bird, B. (1989). Entrepreneural behavior. Engineering Management Journal. https://doi.org/10.1080/10429247.1989.11414550

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Casas, C., & González-Ramírez, A. X. (2016). Productivity measures for the colombian manufacturing industry. Borradores de Economía; No. 947. https://doi.org/10.32468/be.947 Based on this theoretical framework, as well as Kannadhasan et al. ( 2018) findings that relational capital is not significant in venture creation intention, the following hypotheses are postulated:

Fueglistaller, U., Klandt, H., & Halter, F. (2006). International Survey on Collegiate Entrepreneurship 2006. European Business School/ University of St. Gallen (Eds.). Typical assessments may include, but is not restricted to: in-class exercises, written and oral assignments, quizzes, examinations, group project tasks, oral presentation, and other assessment deemed appropriate to show attainment of the learning outcomes set for the course. Further details will be made available via the Class Summary. (100) [LO 1,2,3,4,5,6] Based on the literature review, a theoretical model of relations between entrepreneurial self-efficacy, social capital, person-entrepreneurship fit, and venture creation was developed. To be registered as an assessor with the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA New Venture Creation builds insights and skills in the tools and processes by which new business ventures are created by entrepreneurs. The course introduces participants to the process of identifying new business opportunities, researching and developing an innovative business concept and business model, and analysing the resources and strategies necessary to implement it in the form of a new venture.

Research has indicated that people working with their own new ventures at this level need the following competencies:• Acquisition of an entrepreneurial profile which includes an innovation orientation Noonan, H. W. (2019). Personal identity. In Personal Identity. https://doi.org/10.4324/9781315107240 In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. All recognition of Prior Learning is subject to quality assurance by the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA.