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A new study from West Virginia University shows that religion can help transform believers into entrepreneurs.
“This study is about the role of religion in creating entrepreneurial ventures,” said Nancy McIntyre, associate professor of management at John Chambers College of Business and Economics. “Most of us talk about wanting to start our own business at some point in our lives, but we rarely talk about starting a business that solves a big social problem.”
But her findings, due to be published in the Journal of Business Research in February, show that if religion is more than attending a place of worship, it is “a commitment to religious principles and activities.” ”, indicates a strengthening desire to create a business with a conscience. .
While many religions, like philanthropy, instill values that fuel socially conscious business, McIntyre’s research explores concrete ways in which religious beliefs and practices drive social entrepreneurship. I will clarify.
She argues that religious beliefs and practices can promote a sense of adherents as part of networked collectives rather than as isolated individuals, and that faith-based organizations allow members to exercise their own “self-efficacy.” Sense,” the ability to complete a task,” McIntyre said.
Her research reveals that both confidence in one’s ability to succeed and feelings of reciprocity can boost social entrepreneurship among members of religious communities.
However, this is not the case with traditional profit-driven entrepreneurship.
“Many religions teach humility, self-control, and humility, which may run counter to traditional entrepreneurial practices that promote wealth accumulation, financial freedom, and materialism.” But most religions also teach that we can and should help others, and constant encouragement to do so increases our self-efficacy and helps us It helps us believe that can make a difference.
To assess how religious practices contribute to the launch of socially conscious ventures, McIntyre enrolled in marketing, finance, accounting, and human resource management programs at large public universities in Ghana. We surveyed 563 third- and fourth-year students who were She asked them about topics such as confidence in dealing with difficult situations, the importance of close friendships, entrepreneurship, and the role of religion in life.
The data showed that religiosity, self-confidence, and a sense of connectedness all “have a positive and significant impact on social adventure intentions.”
McIntyre explained that social entrepreneurship is about creating both private and social value. A social venture combines a mission to create economic value with a mission to help the underprivileged by using market-based approaches to address seemingly difficult social problems.
About 3% of the world’s population is engaged in social entrepreneurship, with Australia leading the way, followed by sub-Saharan Africa and the United States. McIntyre conducted research in Ghana because it has “established religious institutions that play an important role in shaping the belief systems and values of its citizens.”
She pointed to one practical connection between religious groups and social startups. It is the fact that large networks are accessible to those who participate in worship and faith-based gatherings. Those who are active in the church “often connect with like-minded people,” she said.
Her data might look different if she surveyed participants in less devout societies than in Ghana, where 71.3% of the population was Christian in the previous census. In contrast, about 64% of Americans are Christians and about 6% of Americans practice other faiths.
But with COVID-19, religion is on the rise in the United States. Three of her 10 US adults report that the coronavirus has strengthened their faith.
McIntyre speculates that the rise in religion stems from the need for comfort, connection, and reflection that many experienced during the pandemic.
“Christians know the story of the Good Samaritan. In Judaism, we have a duty to help those in need. The Quran says that those who save lives are as if they had saved all mankind. And Buddhism defines compassion as a wise, heartfelt motivation to alleviate pain, sorrow, and suffering. I teach you how to see.”
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