Identification and prioritizing influential factors on entrepreneurial success: A case study of SMES in Iran and Malaysia

Abstract

The purpose of this study aims at answering a question about the possibility of different values representing as influential factors on entrepreneurial success. The paper builds on the contributions of previous research in the areas of traits of entrepreneurs and entrepreneurial success and SMEs in the entrepreneurship development process. By using Delphi method and commends of the experts, 14 parameters are recognized. The MCDM method of this survey could be used for ranking and analysis of entrepreneurial success. Utilizing DEMATEL technique indices are classified into cause and effect sections. The results from DEMATEL show that the strong influence of the cause is Risk-Taking and the most effective factor for the effect group is Need for Achievement. Moreover, the weights relevant to each factor are determined by ANP method. Then by the VIKOR technique, the indices are prioritized. Furthermore, this study provides four critical factors to select the best alternatives of entrepreneurial success that “Risk-Taking, Passion, Self-Confident, and Locus of Control” are considered to be the best factors in this class. In addition, “Flexibility” is categorized as the weakest factor among the whole factors influencing entrepreneurial success index.