How entrepreneurs anticipate the future market: An initial approach of a future market anticipation model for small businesses
This research examines and presents a new model concerning how small entrepreneurs predict what markets will be like in the future through considering the competitors, prices, finances, labor costs, raw materials, and progress of the ASEAN economic community. This study applies a descriptive explanatory technique. It also utilizes a quota sampling method with a structural equation model and qualitative descriptive technique. The research results reveal that companies’ entrepreneurial actions and backgrounds had a positive influence on anticipating the future. Next, future anticipation had a positive effect on the additional effort, market performance, and consumer value. It was also discovered that the entrepreneurial learning process consisted of three stages for employers. The learning process was done through parents as employees and from their direct exposure as entrepreneurs. This is considered hybrid entrepreneurship. This study attempts to fill the research gap pertaining to the lack of models on future market anticipation (FMA) by providing an appropriate quantitative research framework and new perspectives on exploring research into FMA for SMEs. Future studies need to focus on examining the function of the learning process as it pertains to hybrid entrepreneurship, as examined from a number of viewpoints.