<abstract xmlns="http://www.w3.org/1999/xhtml">
<p>Business performance is an urgent topic to explore because there are many aspects that influence it. One thing that can guarantee business performance is open-minded entrepreneurship, uncertain readiness, and entrepreneurial optimism. In this context, businesses in the form of Food and Beverage (F&amp;B) have become popular in the last few decades in Indonesia. From this research, it investigates the effects of open-minded entrepreneurs, uncertain readiness, and entrepreneurial optimism on business performance. Apart from that, it also dissects the relevance of open-minded entrepreneurship and uncertain readiness on business performance which is mediated by entrepreneurial optimism. The quantitative method was operated via an online survey involving cafe and restaurant owners (N = 128) spread across several big cities in Indonesia. Then, the data was analyzed using Structural Equation Modeling-Partial Least Square (SEM-PLS). As a result, of the five hypotheses developed, three were accepted. Open-minded entrepreneurship, uncertain readiness, and entrepreneurial optimism are proven to influence business performance. On the one hand, the other two hypotheses are rejected, where open-minded entrepreneurship or uncertain readiness have no impact on business performance through entrepreneurial optimism. By implication, the output of the research is interesting to highlight in the future. Optimism in too high a capacity can harm the business. This is triggered by the level of vigilance and actions of business owners in making decisions based on irrational emotions.</p>
</abstract>

Business performance is an urgent topic to explore because there are many aspects that influence it. One thing that can guarantee business performance is open-minded entrepreneurship, uncertain readiness, and entrepreneurial optimism. In this context, businesses in the form of Food and Beverage (F&B) have become popular in the last few decades in Indonesia. From this research, it investigates the effects of open-minded entrepreneurs, uncertain readiness, and entrepreneurial optimism on business performance. Apart from that, it also dissects the relevance of open-minded entrepreneurship and uncertain readiness on business performance which is mediated by entrepreneurial optimism. The quantitative method was operated via an online survey involving cafe and restaurant owners (N = 128) spread across several big cities in Indonesia. Then, the data was analyzed using Structural Equation Modeling-Partial Least Square (SEM-PLS). As a result, of the five hypotheses developed, three were accepted. Open-minded entrepreneurship, uncertain readiness, and entrepreneurial optimism are proven to influence business performance. On the one hand, the other two hypotheses are rejected, where open-minded entrepreneurship or uncertain readiness have no impact on business performance through entrepreneurial optimism. By implication, the output of the research is interesting to highlight in the future. Optimism in too high a capacity can harm the business. This is triggered by the level of vigilance and actions of business owners in making decisions based on irrational emotions.

Revealing the Link Between Open Minded, Uncertainty Readiness and Optimism in Business Performance for Food and Beverage Businesses

Department of Management, Faculty of Economics and Business

Department of Management, Faculty of Economics

ECONOMICS

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Business performance is an urgent topic to explore because there are many aspects that influence it. One thing that can guarantee business performance is...

Revealing the Link Between Open Minded, Uncertainty Readiness and Optimism in Business Performance for Food and Beverage Businesses

Published Online: Apr 08, 2024

Page range: 199 - 226

Received: Jan 05, 2024

Accepted: Apr 05, 2024

DOI: https://doi.org/10.2478/eoik-2024-0008

Keywords
Open-minded entrepreneur, Uncertainty readiness, Entrepreneur optimism, Business Performance, SEM-PLS

© 2024 Rahmawati Rahmawati et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Revealing the Link Between Open Minded, Uncertainty Readiness and Optimism in Business Performance for Food and Beverage Businesses

Published Online: Apr 08, 2024

Page range: 199 - 226

Received: Jan 05, 2024

Accepted: Apr 05, 2024

DOI: https://doi.org/10.2478/eoik-2024-0008

KeywordsOpen-minded entrepreneur, Uncertainty readiness, Entrepreneur optimism, Business Performance, SEM-PLS

© 2024 Rahmawati Rahmawati et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
Open-minded entrepreneur, Uncertainty readiness, Entrepreneur optimism, Business Performance, SEM-PLS