Get Instant Help From 5000+ Experts For
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing:Proofread your work by experts and improve grade at Lowest cost

And Improve Your Grades
myassignmenthelp.com
loader
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!
Free Quote
wave
The Role of Government in Supporting Entrepreneurship through Psychological Support: A Case Study of

Executive Summary

Entrepreneurs are often thought of as national assets to be refined, motivated, and remunerated to the greatest possible extent. However, governments can play important role in terms of supporting entrepreneurial projects. As government is in the lead of the establishment, sponsorship, and administration of most support programmers especially in the developing countries, a proclamation from the government as it relates to entrepreneurship will go a long way to ensuring the sustainability and positive entrepreneurial practice. Thus, it will bring economic development through SME development, job creation as well as wealth creation.

The study focuses on how existing of psychological support on entrepreneurial projects by government policy (UAE) can benefit entrepreneurs, government, and employees. This research explores the identified major source of psychological challenges entrepreneurs and team member mostly faced during projects, how to benefiting them by having psychological department in entrepreneurial projects during this challenges, hiring procedure, creating motivation as well as identification of mental disorders, which can lead to physical disorders and how government can get benefit from issuing this policy by having more outcomes from projects and attracting more entrepreneurs globally. The major research question that the research aims to answer is, can issuing policy from United Arab Emirates government by having phycological department help entrepreneurs, employees, and government in the long term?

The study relies on data collected through an open-ended question in interview involving two expert entrepreneurs and a psychologist in UAE which helped to addressed mental support needs from both point of views. The study finds that entrepreneurial projects in developing countries face many different sources of mental pressures which mostly ended entrepreneurs and employees to suffer from psychological and physical disorders, which by having support from psychologist could be cure or easier to solve. These disabilities are not only effect on less outcomes from project and having less projects during professional life but affect on their private life as well.

The entrepreneurial job involves creating new ventures and growing them into successful and sustainable enterprises. Each stage of the entrepreneurial process, however, presents daunting challenges; coupled with a dynamic competitive work environment and the risks undertaken (Baron, Franklin, & Hmieleski, 2016; Umukoro & Okurame, 2017). These can grossly affect several entrepreneurial outcomes including performance, entrepreneur’s satisfaction, and wellbeing; consequently, reducing the potential for persisting in entrepreneurial activities. It is particularly the case for micro-enterprises in developing countries, where there are high rates of failure. On average, only about 34% of self-employed or micro-entrepreneurs are considered successful (Gindling & Newhouse, 2014).

Whereas most of the challenges entrepreneurs are confronted with are external, such as economic conditions, therefore are outside the control of the entrepreneur (Albuquerque, Filho, Nagano, & Junior, 2016); unsuccessful owners of small businesses tend to share similar characteristics (Gindling & Newhouse, 2014). This suggests that entrepreneurs’ abilities to cope with the demands of entrepreneurship play a critical role in achieving success. Having psychological support in entrepreneurial activities could help cope with the challenging role of entrepreneurship, thereby enhancing chances of success. Baron (2000) suggested that successful entrepreneurs tend to demonstrate high levels of mental and social competences.

From a psychological perspective, ability is one of the important factors of individual psychological phenomena. Individual ability, individual cognition, and individual emotion are interdependent and together form a person’s psychology. In the process of handling a business for entrepreneurship team members, there is no doubt that entrepreneurs must face pressure from various parties, such as lack of experience in new work environment, interpersonal limitations, shortage of funds and so much more issues. Therefore, entrepreneurs must be able to always maintain stress resistance to face difficulties and unknown risks in the process of entrepreneurship. Only by maintaining a stable entrepreneurial mood team member are unwavering willingness to follow up business, support individual entrepreneurial goals and implement entrepreneurial behaviours. (Yin, Yang and Liu, 2020)

In terms of issuing psychological and mental support, government can play an important role by impact policies for entrepreneurial projects to come up with psychological department in terms of protect entrepreneurs and employees in entrepreneurial projects from mental and psychological issues which create from uncertainty in entrepreneurial projects, thereby making the risk of project failure inherently high, also this policies can help projects to hire right people based on analysing their behaviours and visions.in this paper The UAE government will be an ideal government for issuing this psychological support because it serves as an excellent case in point underscoring the important role played by entrepreneurship as measured by its effects on two indices of economic growth: cumulative national output non-oil GDP sectors as well as overall GDP.

(Hamdan, 2019) In recent report from Global entrepreneurship monitor (GEM) UAE taking advance position on the entrepreneurial environment scoreboard'', by ranking as one of the most supportive and favourable environment for entrepreneurial activities (Sikdar and Prakash Vel, 2011).

Despite the usefulness of psychological capital to business, it has been suggested that such intangible resources are poorly managed among developing countries and micro enterprises, hence the need to continuously highlight the essentiality of these resources (Hormiga, Batista-Canino, & Sánchez-Medina, 2011).

Research question

In the present study, we focused on in which way psychological department can help entrepreneurs and team members to deal with challenges and  further strengthens the likelihoods of achieving superior entrepreneurial outcomes. We particularly focus on subjective outcomes including performance, entrepreneur’s satisfaction, their wellbeing, and commitment to the entrepreneurial role. Whereas literature emphasizes objective entrepreneurial outcomes, it has been noted that entrepreneurs seek more than economic benefits from their work.

While several studies have been conducted on the need of psychological resources in entrepreneurial projects and need of entrepreneurs of having mental support and cure, there is no significant research on developing countries discussed of implication governmental policy regarding this issue.in, there is a limited research discussed regrading role of government to support intangible resources (such as psychological support) in entrepreneurial projects.

This research explores this identified opportunity to implementing intangible support of UAE government by providing certain policies for benefit of entrepreneurs, team members and government itself.

It propose solution to have better income for future of entrepreneurial projects by adopting psychological department which monitoring activities and challenges with team members and help them to overcome or improve mental health in professional and personal life which directly affect to have  better outcome in their business.

How existing of psychological department can benefited entrepreneurial projects by support of UAE government during their practices? ''

Literature Review:

As government is in the lead of the establishment, sponsorship, and administration of most support programmers especially in the developing countries, a proclamation from the government as it relates to entrepreneurship will go a long way to ensuring the sustainability and positive entrepreneurial practice. Thus, it will bring economic development through SME development, job creation as well as wealth creation.

Some sort of supporting such as increasing scope for finance, reducing the regulatory burden on entrepreneurs, developing IT tools, and helping entrepreneur's access network. (Obaji, 2014) As part of future economic planning of the UAE government, it has been the objective of the government to depend more on non-oil resources and development projects (small scale and large scale) as a basis of economic growth.

One of the pioneering attempts made by the government includes Sheikh Rashid Establishment for Young Business Leaders for developing entrepreneurs in the UAE. (Ramavarman, 2009) A recent study by Global Entrepreneurship Monitor (GEM) on the entrepreneurial activities in the UAE has placed the UAE in an advanced position on the "Entrepreneurial Environment Scoreboard", rating it as one of the most supportive environments for entrepreneurial activities.

Literature Review

 (Sikdar and Prakash Vel, 2011) A number of extraordinary steps have been taken by policymakers in UAE government to have extra support for entrepreneurs more than other governmental support , including providing consultations and online training to help SMEs overcome the crisis; providing water and electricity subsidies in Dubai and Abu Dhabi;

the suspension of government fees for commercial leases and hospitality; the reduction of government fees, access to finance in the entrepreneurial ecosystem by requiring the Emirates Development Bank to contribute no less than 10% of its total annual financing facilities to SMEs. (Entrepreneurship in United Arab Emirates, 2021)

This paper will work on create another policy by UAE government which needs to concern rather than other rules, to support psychological and mental health of entrepreneurs and employees whose work with them by having psychological department in every projects.

 In today’s world entrepreneurs perceive success not only financially but also psychologically. For entrepreneurs, non-monetary incentive has become more fulfilling, while monetary gains do not always bring the greatest satisfaction. Thus, entrepreneurial success needs to be re-conceptualized because it has been suggested to be more than just financially termed. Entrepreneurial success is dynamic because it depends on the fluctuation of psychological states, which determine behaviours amidst uncertainties, difficulties, changes, and challenges in the environments. Entrepreneurial success is highlighted to comprise not only financial gains but also psychological measures of success, such as satisfaction, feeling of gratitude, and preparedness (Tresita Paul V. and Uma Devi, 2018).

however there is studies which claim that entrepreneurs personally need to have certain personality to become successful entrepreneurs or entrepreneurs at the first place which is make them able to overcome by challenges, for instance, Brandstätter believes readiness for innovation, proactive personality,

generalized self-efficacy, stress tolerance, need for autonomy, locus of control) have high significant correlations with business creation and business success for entrepreneurs. (Brandstätter, 2011) or SUHAIB ASLAM have faith of entrepreneurial personality includes extraversion, emotional stability, agreeableness, conscientiousness, and openness to experience (ASLAM, 2016)  which is partly correct but in this paper focuses are more on, if this personal abilitie are good enough to run and handle all challenges in Entrepreneurial project or not.

For an entrepreneur to survive and thrive amid the economical, operational, and personal challenges, it requires more than traditional resources, human capital, and social capital. Entrepreneurs need to capitalize on their psychological capital to be able to withstand business challenges and uncertainty (Luthan, Youssef, & Avolio, 2007). It is obvious that financial, human, and social capital are still certainly essential, but they are no longer enough in this environment.

Psychological capital is an important aspect of entrepreneurial success (Paul & Dr. Devi, 2018), in which it provides entrepreneurs with the mental and emotional strengths needed to meet the emotional challenges that are part of the entrepreneurial process, therefore, psychological capital may be a critical reason in answering why some entrepreneurs can persevere and develop successful ventures with limited resources, while others do not (Hmieleski & Carr, 2008).

The vulnerability of entrepreneurs to encounter the mental blocks become high when there is:

  • Lack of self-care to manage the stress
  • Tackle the revolving uncertainty with the business
  • Unexpected social isolation
  • A barrier to seeking professional help 

(The Importance of Entrepreneurial Mental Health - JungleWorks, 2021)

It's also Important to concern that interactions are likely to exist between entrepreneurs' particular set of “existential” or “life issues” (the thorny issues that are the legacies of developmental stages in which an individual experienced frustration and in which his or her coping abilities were severely tested) and the content of “objective” strategic issues to which they choose to allocate both personal and organizational resources. Based on the psychodynamic literature and its clinical

findings that while they may be enacted over a wide range of diverse behaviours and activities, entrepreneurs' life issues are anchored in their characters and therefore stable over time and that these issues underlie the set of strategic priorities they enact in their firms. (Kisfalvi, 2002)

Having psychological department in entrepreneurial projects can have many positive effects. The main aim can be helping entrepreneur and employees to face their mental issues and try to solve it for having better life quality, also improve team member's bottom line by resolving issues that may be hindering productivity, growth, problem-solving abilities and employee morale. (What Are the Benefits of Organizational Psychology Within the Workplace?, 2021) in addition, psychologists can help entrepreneurs, their support organisations, and policy makers to realise the “bright side” of entrepreneurship such as creating jobs, introducing innovation, lifting people out of poverty, working towards environmental sustainability, and individual happiness. 

(Gorgievski and Stephan, 2016) According to this study, approximately one half (49%) of entrepreneurs suffer from at least one form of mental health condition during their lifetimes. These include ADHD, bipolar disorder, and a host of addictive disorders which fortunately most of them are having a chance to be cure or taking under control by recognizing from an expert people or psychologists, these mental issues are not only control their personal life but it can toxic workplace and their final professional outcomes. (There is a mental health crisis in entrepreneurship. Here’s how to tackle it, 2021) So, UAE as the region seeks a more diversified and sustainable economy, entrepreneurs need to be supported as the main driver of innovation for a sustainable and prosperous future. Furthermore, entrepreneurs can elevate the standard of living of the people by providing new solutions, which in turn enhance the general happiness and well-being of their communities.

Most importantly, entrepreneurs can be agents of social change. (Entrepreneurs to drive UAE's future economic growth, 2021) This care can be done through supporting mental and psychological health drive for them by creating policy for all entrepreneurial projects to have psychological department in their organization.

Research design:

 The research study will follow a primary qualitative research methodology, interviewing entrepreneurs regarding their experiences and idea to have psychological department during entrepreneurial projects as well as an expert psychologist with more than 20 years professional experience in UAE to understand their identifications regarding mental and emotional health in case of entrepreneurs or team members whose work with them.

In terms of understanding needs of implication governmental policies about psychological support in entrepreneurial project will be qualitative in nature. A qualitative research design is ideal due to the depth of research question and the lack of certainty regarding psychological support in entrepreneurial projects by governmental policies in developing countries and specifically United Arab Emirates.

To fully understand the probability of success from psychological support, an interview will be used to collect information from both side of entrepreneurs and psychologists. The factors that affect the successful outcome from entrepreneurial project by having mental support analysed from literature review as secondary data. The secondary data are from researches within the last two decades and reports on the need of psychological capital, effects of extraordinary pressure or challenges during projects and consequences of them in future, brought together to help develop a framework that can be utilized to ensure that the psychological department would be successful in entrepreneurial project.

This report gathers data and information from various sources due to the importance in research, as it increases the validity of the information that will be used in the formulation of opinions. Relying on a qualitative research design helped in the fast completion of the research, as information was collected first-hand. Additionally, the results of the research helped in coming up with definitive conclusion about the possibility of using UAE government policies for having psychological department can benefit entrepreneurs, team members and government to have better outcome.

Data Collection:

The study employed qualitative data collection. Having virtual interviews through zoom by entrepreneurs (entreapener1 &entrepreneur 2) and face to face interview by expert psychologist. This interview provided the research with information on how this policy by UAE government can help entrepreneurial projects, which discussed by both entrepreneurs and psychologist to come up with ideas in different point of views. Entrepreneurs' past outcomes was including two big entrepreneurial projects inside UAE and out side of UAE.

Entreapener1 experiences was on having high tech and sustainable construction inside UAE as the first sustainable project in country by providing sustainable city with 500 villas with special features and technology as well as sustainable services and facilities which is located on it such as buffer zone, farm, sustainable plaza, solar car park and so much more. Entrepreneur 2 experiences is regarding building smart city with Tesla and MIT, which entrepreneur still working on middle of the project. On the other side interviewing by expert psychologist inside UAE with experience more than 20 years helped research to have better vision on psychological aspects.

It will be important to rely on open-ended questions to collect significant and valuable information from the interview. Open-ended questions for the interview gave the interviewee an opportunity to discuss related subjects, which were important in the research.  

Entrepreneurs was chosen for participation in the study due to their experiences with entrepreneurial projects and all challenges it might happened during project as well as psychologist whose consult entrepreneurs during professional lifetime to cure. Notably, psychological aspects played significant role in decision making and work place environment and so much more factors which can directly affect on better outcome and increasing number of entrepreneurial projects in society.

Therefore, the data from both interviewee will help in understanding the current state of importance of existing policy for psychological department in entrepreneurial projects. The collection of data for the study through the interview was arranged on Zoom meetings and face to face with both interviewee by asking request to their assistance to select an appropriate time when the interview was conducted. There is two different form of questions was asked from interviewee some questions for entrepreneurs and some questions from psychologist.

1. What do you think about failing in entrepreneurial projects?

2. What is your approach regarding overcome from failing in projects?

3. What kind of emotional pressures you faced during projects generally?

4. How you and your team members could handle and overcome from pressures or project failings?

5. What are the consequences of mental or physical issues which happen at the end of the projects?

6. How long mostly it takes for you to become emotionally and physically stable to start new project?

7. What do you think about having psychological support during entrepreneurial projects?

8. What do you think about having governmental policy to have psychological department in all entrepreneurial projects?

1. How work pressures and challenges can affect on private and professional life of entrepreneurs in short and long term?

2. Do you think having mental aspect such as risk taking, tolerance ambiguity or hardworking which is mostly appeared in entrepreneurs can be able them to overcome from all challenges and failing during their projects?

3. How psychological features of entrepreneurs and team members can play a role on their cooperation?

4. What do you think about monitoring psychological and mental issues by having psychological department in entrepreneurial projects?

5. What are other channels exist which help entrepreneurs and team members to get psychological support?

6. The interview questions were ideal because they increased the understanding of real challenges which faced by entrepreneurs and having deep understanding of psychological points which might affect on them in short or long term. Therefore, These interview questions provided an insight into mental challenges as well as an understanding needs of psychological support for entrepreneurial projects.

The analysis of collected data from the interview to answer the study's research question involved a content/thematic analysis. The interview was writing down as a note during interview for analysing purpose. In specific, patterns of themes from the interview data were identified for classification of information. Three major themes emerged. To analyse the broad information captured, notes was analysed and content were clustered under related theme to produce a clear catalogued result of the interview, which are presented in the result section of this paper.

For the purpose of presenting the results from the interview, the three parties who participated will be referred to as Entreapener1, Entreapener2 and psychologist. The identified three major themes from the open-ended interview were challenges face by entrepreneurs and team members, advantage of psychological monitoring and benefit of psychological department in entrepreneurial projects, which are hereby presented;

Challenges face by entrepreneurs and team members

support
Whatsapp
callback
sales
sales chat
Whatsapp
callback
sales chat
close