Analysis of Interest in Becoming Social Entrepreneurs Among the Millennials and Z Generation Using the Theory of Planned Behavior and Outcome Expectation: A Multigroup Analysis Approach
DOI:
https://doi.org/10.26668/businessreview/2023.v8i5.2193Keywords:
Social Entrepreneurial Intention, Theory of Planned Behaviour, Outcome Expectation, Multigroup Analysis, GenerationAbstract
Purpose: As one of the world's most populous countries, Indonesia is struggling with the composition of its people, the majority of whom are unemployed productive-age individuals with low education levels. Another issue is the high poverty rate, which is followed by issues of gender inequality. The government cannot solve these social issues on its own. There is a need for community support to solve these problems through sustainable social entrepreneurship activities.
Theoretical framework: Studying the factors that affect the intention to engage in social entrepreneurial activities is an important aspect of SE theoretical development (Yu et al., 2021). Thus, the study of what factors influence an individual's Social Entrepreneurial Intention (SEI) is still in its early stages, particularly in developing countries such as Indonesia, where the SE level is much lower than in developed countries. This study integrates the Theory of Planned Behavior with Outcome Expectation to determine the factors that influence the interest of the Z and Millennial generation in becoming social entrepreneurs. The outcome expectation variable was added because previous research has indicated that outcome expectations are crucial when making career decisions (Lent et al., 2002) and that people must believe that social entrepreneurship is an appropriate method to address social problems when compared to other options before deciding to build a social enterprise.
Design/methodology/approach: This study applied a quantitative approach with a judgmental sampling technique to a sample of Generation Z and Millennials who have ever participated in social activities but have not yet started their own business. The study gathered 210 respondents, who were then analyzed using the PLS-SEM method with multiple group analysis generation-based comparison.
Findings: According to the findings, the Millennial Generation's Attitude Toward Behavior, Subjective Norms, Perceived Behavioral Control and Outcome Expectation, all had a positive impact on Social Entrepreneurial Intention. Meanwhile, Subjective Norms had no effect on Social Entrepreneurial Intention in the Z Generation. Only attitude toward behavior, perceived behavioral control, and outcome expectation have a positive effect on the development of social entrepreneurial intentions. Furthermore, the findings of this study confirm that subjective norms influence attitude toward behavior and Perceived Behavioral Control in both Generation Z and millennials (generation Y) sample.
Research, Practical & Social implications: The results of this research can be used by stakeholders to formulate policies and programs that can encourage the creation of social entrepreneurial intentions among Generation Z and Generation Y because they have different needs and motivations for pursuing career aspirations as sociopreneurs.
Originality/value: The results of this research contribute to the enrichment of the study of social entrepreneurial intention, which currently attracts many scholars because of the economic and social impact it produces. Moreover, the study was conducted on samples of Generation Z and Generation Y in Indonesia, something that was rarely done in previous research in the Social Entrepreneurial Intention study.
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