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Entrepreneurship in the Street Food Sector of Vietnam—Assessment of Psychological Success and Failure Factors

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  • Annemarie M. F. Hiemstra
  • Koen G. Van der kooy
  • Michael Frese

Abstract

We tested the hypothesis that process characteristics of action strategies were related to entrepreneurial success in microbusinesses in the urban informal sector of Vietnam. The process characteristics were divided into four strategies: critical point planning, complete planning, opportunistic, and reactive. Success was defined as a combination of economic and subjective measures. A survey was done in Hue and Hanoi (Vietnam) among 102 street food vendors. With 62 vendors of this sample, we held in‐depth interviews, which were used to test our hypotheses. The results showed that seventy percent of the business owners did not plan much. Opportunistic and planning strategies were most highly related to success, and a reactive strategy was related to failure. The latter replicates other studies in other developing countries.

Suggested Citation

  • Annemarie M. F. Hiemstra & Koen G. Van der kooy & Michael Frese, 2006. "Entrepreneurship in the Street Food Sector of Vietnam—Assessment of Psychological Success and Failure Factors," Journal of Small Business Management, Taylor & Francis Journals, vol. 44(3), pages 474-481, July.
    • Handle: RePEc:taf:ujbmxx:v:44:y:2006:i:3:p:474-481
    DOI: 10.1111/j.1540-627X.2006.00183.x
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    Cited by:

    1. Anwar Shah & Tehseen Ahmed Qureshi, 2022. "Regulatory Framework and Behavioural Issues in the Informal Khokhas’ Markets in Pakistan (Article)," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 61(2), pages 153-168.
    2. Eric R. Tacardon & Ardvin Kester S. Ong & Ma. Janice J. Gumasing, 2023. "The Perception of Food Quality and Food Value among the Purchasing Intentions of Street Foods in the Capital of the Philippines," Sustainability, MDPI, vol. 15(16), pages 1-20, August.

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