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.