Unraveling the Influence of School Factors, Innovativeness and Creativity to Entrepreneurial Risk-Taking: A Causal Model.

Entrepreneurs face many challenges such as dealing with ambiguity, declining market shares or investments that have gone wrong. For an entrepreneur to succeed, one should deal with these daunting tasks. Many authors consider an individual's ability to be creative, innovative and the ability to take risks as significant factors to entrepreneurial sustainability and success. One would question: What fuels them to take the risk, the uncertainty, and the daunting task in choosing this path? Scholars stressed that no one is born to take risks, but others agree that it can be developed through education and training. The challenge: Can school factors such as curriculum, instruction, and facilities and support influence innovativeness, creativity and risk-taking? Hence, this study was conceptualized to determine if school factors, innovativeness and creativity may influence entrepreneurial risk-taking. Using structural equation modelling, four hundred eighty-eight (488) senior college students from selected colleges and universities in Cagayan De Oro City, Philippines participated in this study. The best fit model proposed that entrepreneurial risk-taking is anchored on Innovativeness and Creativity, which influence can be enhanced with School Factors. The best indicators for School Factors are Curriculum (CUR) and, Facilities and Support (FS). Results imply that entrepreneurial risk-taking can be formed when innovativeness and creativity is high. School factors were found to have a crucial role in enhancing the effects of innovativeness and creativeness, which contributes to the formation of students' entrepreneurial risk-taking. Since Curriculum, and Facilities and Support were found to be best indicators for school factors that may influence students' entrepreneurial risk-taking, the academe must focus on identifying and developing existing programs that are hinged in this direction. Particularly, sustaining enhancement programs for curriculum and facilities and support, which were found to be significant components that contribute to successful academic programs for entrepreneurship. [ABSTRACT FROM AUTHOR]