Societal, Culture and Entrepreneurial Opportunities Exploitation of New Venture Activities: Mediating Role of Proactiveness

Abstract

An unanswered question is concerned with the influence of culture of individualism, power distance and uncertainty avoidance in entrepreneurs’ opportunity exploitation of new venture activities in developing economies in the context of societal level. Based on the sample of 130 individual entrepreneurs in Tanzania, this paper analyses how culture of individualism, uncertainty avoidance and power distance influence entrepreneurial opportunity exploitation of new venture activities on societal level.  The results indicated that the culture of individualism contributes highly on entrepreneurs’ opportunity exploitation of new venture activities. The results of uncertainty avoidance imply that the greater the uncertainty avoidance, the less the entrepreneurs’ chance to exploit opportunities of new venture activities. The proactive behaviour that was used as a mediator variable also contributes to the relationship between individualism, uncertainty avoidance and entrepreneurs’ opportunity exploitation of new venture activities. The study has made a contribution to the developing countries literature by focusing on individual entrepreneurs on societal level.