Working in the “Neo-Liberal Hegemony”: An Investigation on Entrepreneurial Mindset of Internal Labor Market Based on Individual Differences

Abstract

Neo-liberal economy, distinguished by its emphasis on innovation and competition driven by buyer’s authority, necessitates workforce to cultivate an entrepreneurial mindset (EM) for self-improvement. The aim of this study is to investigate the EM among employees in the neo-liberal economy. The objective is to discern the attributes associated with EM within the internal labor market, while also investigating the influence of individual variances upon these attributes. We obtained our samples by administering a set of questionnaires to a cohort of 261 individuals employed in small and medium-sized enterprises (SMEs) located within the geographic scope of China. Our investigation has probed into the facets of the EM, encompassing innovativeness, need for achievement, risk-taking, autonomy, and proactiveness. These components were subjected to rigorous scrutiny through the utilization of t-tests and analysis of variance techniques, with the objective of detecting noteworthy disparities among gender, age, educational attainment, and salary scale in relation to these five dimensions of EM. Furthermore, we have bolstered our research findings with supplementary evidence derived from additional correlation analyses. Our study’s findings reveal that age and educational levels do not manifest substantial variations in EM. However, we do observe significant distinctions in EM across varying income levels and genders. Additionally, this paper addresses the implications of our findings, delineates the limitations encountered in our study, and elucidates potential directions for future research. This paper’s originality stems from its unique analysis of the interaction between neo-liberal economic policies and individual entrepreneurship in China, as seen through the perspective of its generation raised post-market transformation.

Author Biographies

Zuo Wenjun, Ural Federal University, Yekaterinburg, Russia

Zuo Wenjun is a PhD student at the Graduate School of Economics and Management, Ural Federal University, Yekaterinburg, Russia. Concentrating on corporate entrepreneurship, labor creativity and productivity, as well as corporate governance, he examines labor productivity and creativity in the new economy through the lens of intrapreneurship. As the lead author, his latest publication investigates the impact of psychological safety and work engagement on the manifestation of employees' strategic renewal behavior (2023).

Svetlana V. Panikarova, Ural Federal University, Yekaterinburg, Russia

Svetlana V. Panikarova holds a Doctor of Science (Economics) degree and serves as a Professor at the Graduate School of Economics and Management, Ural Federal University, Yekaterinburg, Russia. Specializing in both fundamental and applied research, she explores the dynamics of the knowledge-based economy, placing a significant focus on the processes of knowledge creation, diffusion, and application within various organizational, industrial, national, and regional contexts. Her latest publication, where she is the lead author, involves a cross-country analysis of institutional support for public-private partnerships (2023).

Li Zhiyuan, East China Normal University, Shanghai, China

Li Zhiyuan is currently pursuing a PhD at the School of Economics and Management, East China Normal University, located in Shanghai, China. His research focuses on innovative economics, regional tourism development, and geographic economics. As the primary author, his latest publication, is on the influence and spatial effect of innovative city construction on tourism economy (2023).

Zhao Qi, University of Shanghai for Science and Technology, Shanghai, China

Zhao Qi is currently pursuing her PhD at the School of Management, University of Shanghai for Science and Technology, located in Shanghai, China. Her research focuses on the intricacies of top management team processes and decision-making processes within the realm of innovation management. Recently, she has been working on the incentives of employee compensation in state-owned enterprises, specifically on optimization of incentive mechanisms and effect evaluation.

Published
2023-12-27
How to Cite
Wenjun, Z., Panikarova, S., Zhiyuan, L., & Qi, Z. (2023). Working in the “Neo-Liberal Hegemony”: An Investigation on Entrepreneurial Mindset of Internal Labor Market Based on Individual Differences. Changing Societies & Personalities, 7(4). doi:10.15826/csp.2023.7.4.251
Section
Articles