Results that show the negative effects of the Conceptual Skill and Decision Making Skill

Oct 13, 2025 by magicalceylontours.com 73 views

The Effect of Entrepreneur Skills on Business Success in the Faculty of Economics and Business, University of North Sumatra

Entrepreneurship plays a vital role in the progress of a country, and it is essential to provide entrepreneurial knowledge to students to help them understand the business world. The higher the knowledge of student entrepreneurship, the more open their insights about the business world. This study aims to analyze the effect of entrepreneur skills, consisting of managerial skills, conceptual skills, human skills, decision making skills, and time managerial skills, on the success of the business of students of the Faculty of Economics and Business, University of North Sumatra (USU).

Importance of Entrepreneurship Education

Entrepreneurship education is crucial for students to develop the skills and knowledge necessary to succeed in the business world. It takes at least 2% of entrepreneurs of the total population to make a country developed and independently. This makes the provision of entrepreneurial knowledge to students to be very important. The higher the knowledge of student entrepreneurship, the more open their insights about the business world. Entrepreneurship education can help students develop skills such as creativity, innovation, and risk-taking, which are essential for business success.

Methodology

This study uses an associative approach involving 40 USU Faculty of Economics and Business students who already have a business as a population and sample. The data used is primary and secondary data. Primary data are obtained through questionnaires and interviews, while secondary data are taken from literature, previous research, and other sources. Data analysis using multiple linear regression.

Results

The results showed that jointly, managerial skills, conceptual skills, human skills, decision making skills, and time managerial skills significantly influence the success of the business of students of the USU Faculty of Economics and Business. Partial test revealed that managerial skills, human skills, and time managerial skills have a positive and significant influence on business success. On the other hand, conceptual skills and decision making skills have a negative and significant influence on business success.

Deeper Analysis

*** Positive Effects: Mastery of Managerial Skills, Human Skills, and Time Managerial Skill shows the importance of the ability of students to manage resources, build good relationships with stakeholders, and manage time effectively. This ability helps students in carrying out business operations, motivating the team, and achieving the targets set.

*** Negative Influence: Results that show the negative effects of the Conceptual Skill and Decision Making Skill deserve serious attention. Chances are, students are too fixated on theory and are less able to apply it in practice. In addition, inappropriate decision making skills, such as being too careful or too rushed, can hamper business progress.

Recommendation

The USU Faculty of Economics and Business needs to increase learning material that focuses on the development of managerial skills, human skills, and time managerial skills.
Improve field practice and business simulation to help students hone practical skills.
Establish cooperation with practitioners to provide guidance and mentoring for students in developing businesses.
Facilitating student access to relevant resources and information to assist them in proper decision making.

Conclusion

It is essential to remember that the influence of entrepreneurial skills on business success is a complex process. Other factors such as economic conditions, market competition, and family support also play an important role. However, this research provides a clear picture of the important role of entrepreneurial skills in supporting the success of the business of students of the USU Faculty of Economics and Business.

Implications for Practice

The findings of this study have implications for practice in the field of entrepreneurship education. It highlights the importance of developing entrepreneurial skills, particularly managerial skills, human skills, and time managerial skills, in students. It also emphasizes the need for field practice and business simulation to help students hone practical skills. Furthermore, it suggests the importance of establishing cooperation with practitioners to provide guidance and mentoring for students in developing businesses.

Limitations of the Study

This study has several limitations. Firstly, the sample size is relatively small, which may limit the generalizability of the findings. Secondly, the study only focuses on the Faculty of Economics and Business, University of North Sumatra, which may not be representative of other universities or faculties. Finally, the study only examines the effect of entrepreneurial skills on business success, and does not consider other factors that may influence business success.

Future Research Directions

Future research can build on the findings of this study by examining the effect of entrepreneurial skills on business success in other contexts, such as small and medium-sized enterprises (SMEs) or start-ups. It can also investigate the role of other factors, such as economic conditions, market competition, and family support, in influencing business success. Furthermore, it can explore the development of entrepreneurial skills in students, particularly managerial skills, human skills, and time managerial skills.

References

[List of references cited in the study]

Appendix

[Appendix containing additional information, such as questionnaires, interview protocols, and data analysis procedures]

Note: The above article is a rewritten version of the original content, with improvements in readability, structure, and formatting. It includes headings, subheadings, and bullet points to make the content more accessible and engaging. The article also includes a conclusion, implications for practice, limitations of the study, and future research directions to provide a more comprehensive understanding of the topic.
Frequently Asked Questions (FAQs) about the Effect of Entrepreneur Skills on Business Success

Q: What is the importance of entrepreneurship education?

A: Entrepreneurship education is crucial for students to develop the skills and knowledge necessary to succeed in the business world. It takes at least 2% of entrepreneurs of the total population to make a country developed and independently.

Q: What are the key entrepreneurial skills that influence business success?

A: The key entrepreneurial skills that influence business success are managerial skills, conceptual skills, human skills, decision making skills, and time managerial skills.

Q: What is the role of managerial skills in business success?

A: Managerial skills play a crucial role in business success as they enable entrepreneurs to manage resources, build good relationships with stakeholders, and manage time effectively.

Q: What is the impact of conceptual skills on business success?

A: Conceptual skills have a negative impact on business success as they can make entrepreneurs too fixated on theory and less able to apply it in practice.

Q: What is the role of human skills in business success?

A: Human skills play a crucial role in business success as they enable entrepreneurs to build good relationships with stakeholders and motivate their team.

Q: What is the impact of decision making skills on business success?

A: Decision making skills have a negative impact on business success as they can lead to inappropriate decision making, such as being too careful or too rushed.

Q: What are the implications of this study for entrepreneurship education?

A: The study highlights the importance of developing entrepreneurial skills, particularly managerial skills, human skills, and time managerial skills, in students. It also emphasizes the need for field practice and business simulation to help students hone practical skills.

Q: What are the limitations of this study?

A: The study has several limitations, including a relatively small sample size, a focus on a single university, and an examination of only the effect of entrepreneurial skills on business success.

Q: What are the future research directions for this study?

A: Future research can build on the findings of this study by examining the effect of entrepreneurial skills on business success in other contexts, such as small and medium-sized enterprises (SMEs) or start-ups. It can also investigate the role of other factors, such as economic conditions, market competition, and family support, in influencing business success.

Q: What are the practical implications of this study for entrepreneurs?

A: The study provides practical implications for entrepreneurs, including the importance of developing entrepreneurial skills, particularly managerial skills, human skills, and time managerial skills, and the need for field practice and business simulation to help entrepreneurs hone practical skills.

Q: What are the policy implications of this study for governments?

A: The study provides policy implications for governments, including the need to provide entrepreneurship education and training programs that focus on developing entrepreneurial skills, particularly managerial skills, human skills, and time managerial skills.

Q: What are the implications of this study for business owners?

A: The study provides implications for business owners, including the importance of developing entrepreneurial skills, particularly managerial skills, human skills, and time managerial skills, and the need for field practice and business simulation to help business owners hone practical skills.

Q: What are the implications of this study for researchers?

A: The study provides implications for researchers, including the need to conduct further research on the effect of entrepreneurial skills on business success in different contexts and the role of other factors, such as economic conditions, market competition, and family support, in influencing business success.