Hiemstra (2006) Entrepreneurship in the Street Food Sector of Vietnam—Assessment of Psychological Success and Failure Factors

Abstract: We tested the hypothesis that process characteristics of action strategies were related to entrepreneurial success in microbusinesses in the urban informal sector of
Vietnam. The process characteristics were divided into four strategies: critical point
planning, complete planning, opportunistic, and reactive. Success was defined as a
combination of economic and subjective measures. A survey was done in Hue and
Hanoi (Vietnam) among 102 street food vendors. With 62 vendors of this sample, we
held in-depth interviews, which were used to test our hypotheses. The results showed
that seventy percent of the business owners did not plan much. Opportunistic and
planning strategies were most highly related to success, and a reactive strategy was
related to failure. The latter replicates other studies in other developing countries.

doi: 10.1111/j.1540-627X.2006.00183.x

Available here.