GROWTH ASPIRATIONS AS A FUNCTION OF ENTREPRENEURIAL PERCEPTIONS AND MOTIVATION

This research examines why entrepreneurs seek growth for their ventures. We develop and test a motivation perspective to determine if the motivation to improve one's life through greater income or independence is associated with an entrepreneur's aspirations for growth. We also develop an opportunity perspective to test whether characteristics of the opportunity can impact an entrepreneur's judgment about the growth potential for the venture. We build and test hypotheses based on this research question, drawing on data from 196 entrepreneurs participating in the 2008 Global Entrepreneurship Monitor survey in the Republic of Korea. Our research finds that growth requires greater challenges. And growth aspirations are also associated with the belief that efforts will lead to successful outcomes.