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The Well-Being of Entrepreneurs and Managers in an Organisation: An Exploratory Study of Work Experiences

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Date

2024

Authors

Supervisor

Ho, Marcus
McGhee, Peter

Item type

Thesis

Degree name

Master of Philosophy

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Publisher

Auckland University of Technology

Abstract

Over the past few decades, neoliberal globalisation has had a major impact on businesses, requiring individuals and companies to focus on developing their capacities to enhance business success in an increasingly competitive environment (Djelic & Sahlin-Andersson, 2006; Drori et al., 2006). While entrepreneurs are expected to utilise their skills to adapt to increasing competition, managers, also, must show the entrepreneurial qualities needed to implement the expanded goals of their organisation, utilising innovation, strategic design, creativity, and proactive change-making (Teece, 2007). The role of both entrepreneurs and managers, therefore, is highly demanding and goal oriented. Given that both entrepreneurs and managers, as the organisational leaders of business, play central roles in their organisations' success and significantly influence outcomes (Oppong, 2014; Shepherd et al., 2010), it is crucial to understand their well-being and the adverse health effects brought about by globalisation and technological advances. The objective of this research is to explore the impact of well-being on entrepreneurs and managers, as organisational leaders, focusing on their daily experiences and work outcomes. Specifically, the study seeks to understand how these individuals conceptualise, manage, and cope with work pressures, and how well-being affects their family and employee relationships. This research utilizes a well-being framework to propose a qualitative, exploratory study involving interviews with 13 entrepreneurs and 7 managers in organisational leadership roles, focusing on their workplace well-being. Qualitative research was selected due to its capacity to offer a deeper understanding of the complexity of this social matter. To analyse and interpret the data effectively, the study employs the Gioia method (Gioia et al., 2013), which utilizes an inductive approach to qualitative data analysis. The research findings highlight the strong role of eudaimonic well-being – based on six core dimensions of psychological well-being – in the lives of entrepreneurs and managers, as the organisational leaders of business. The study confirms that achieving eudaimonic well-being involves fulfilling one's potential through meaningful pursuits (Steger et al., 2008). Furthermore, the study reveals the challenges these organisational leaders face, including overworking, occupational stress, and work-family conflict, and examines the complex relationship between eudaimonic well-being, continuous learning, coping strategies, and strategic thinking. Continuous learning has emerged as a foundational element that helps organisational leaders stay informed about industry trends, respond to market changes, and foster creativity and innovation. Additionally, effective coping mechanisms for stress have been identified as crucial for improving strategic thinking. Overall, this study contributes to the theoretical understanding of how eudaimonic well-being, continuous learning, and coping strategies collectively enhance strategic thinking. The integration of these factors not only benefits individual managers and entrepreneurs as organisational leaders by enhancing their strategic thinking capabilities but also improves their organisational performance and resilience. The findings underline the importance of well-being practices in supporting the success and well-being of entrepreneurs and managers as organisational leaders, thereby benefiting the broader organisational context.

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http://hdl.handle.net/10292/18234

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Masters Theses