Sangosanya, Taofeek Adeyemi1 ; Saraih, Ummi Naiemah2 ; Bakar, Rosni3
1-3 School of Business Innovation & Technopreneurship, Universiti Malaysia Perlis
This study focuses on cosmetics industry in Malaysia, considering the rapid growth in both consumption and the expenditure on cosmetics products across Malaysia. This signifies a wide market for cosmetic products and paving way for the emergence of new entrepreneurs in the industry. Considering the failure rate of the new emerging entrepreneurs in the cosmetics industry and the limited number of studies that considered behavioural factors as the determinants of entrepreneurial success, this study emerges to examine the effect of career commitment as a behavioural factor on both extrinsic and intrinsic success of entrepreneurs in the Malaysian cosmetic industry. The sample for this study is derived from the total population of registered cosmetics manufacturers obtained from the National Pharmaceutical Regulatory Agency (NPRA). The population size is found to be 3014 and a sample of 301 is utilized for this study. The Partial Least Squares Structural Equation Modelling (PLS-SEM) modelling technique is used for testing the study hypotheses. The results indicated that there was a positive relationship between career commitment and extrinsic entrepreneurial success (β = 0.544, t= 15.892, P< 0.000) as well as intrinsic entrepreneurial success (β= 0.299, t= 6.335, p<0.000). Thus, this study suggests that career commitment among cosmetics entrepreneurs in Malaysia will positively influence the success of both types of entrepreneurial success (i.e. the extrinsic and intrinsic goals of entrepreneur.
Keywords: Entrepreneur; Career Commitment; Extrinsic Success; Intrinsic Success; Cosmetics Industry