Contributions of Mindfulness to Improvisational Behavior and Consequences on Business Performance and Stress of Entrepreneurs during Economic Downturn

ABSTRACT

This research investigates the role of mindfulness among Thai entrepreneurs that can be linked to their improvisational behavior that, in turn, explains business performance and stress during a period of economic contraction in Thailand. This research collected survey data from a sample of 186 owners of small retail shops in major marketplaces in Bangkok, Thailand. Results from partial least squares structural equation modeling show that mindfulness had a positive relationship with the degree of improvisational behavior exhibited by entrepreneurs. The findings also reveal that the entrepreneurs who exhibited a higher degree of improvisational behavior achieved higher business performance and had lower stress.

KEYWORDS:

• Mindfulness
• entrepreneur
• small business
• stress
• strategic decision making

Disclosure statement

No potential conflict of interest was reported by the author.

Additional information

Notes on contributors

Peerayuth Charoensukmongkol

Peerayuth Charoensukmongkol is a lecturer at the International College of National Institute of Development Administration, Bangkok, Thailand. He holds a doctorate degree in International Business Administration with Management Concentration from the Texas A&M International University, Laredo, Texas, USA. He can be reached at [email protected]