Entrepreneurial intentions: Applying the theory of planned behaviour

Abstract

Understanding and predicting new venture initiation requires research using theory-driven models that adequately reflect the complex perception-based processes underlying intentional, planned behaviours such as new venture initiation. We discuss exactly such a model, widely used in social psychology, and demonstrate its applicability to the entrepreneurship domain. Ajzen's intentions-centred ‘theory of planned behaviour’ is parsimonious, well grounded in theory, and robustly predicts a wide variety of planned behaviours. Intentions are the single best predictor of such behaviour, both conceptually and empirically. Intentions formation depends; on attitudes toward the target behaviour which, in turn, reflect beliefs and perceptions. Intentions-based models of entrepreneurial activity are compatible with existing research results and open new approaches to studying venture initiation. Intentions models allow us to better understand the impact of various antecedents of organizational emergence; identifying not only what influences emergence, but also how.