Questionnaire Development
The questionnaire for this study consists of items adapted from previous studies and self-developed items. The adapted items used in this study are for internal locus of control, need for achievement, and social competence. The items for competitive advantage, opportunity sensitivity and luck are self-developed based on previous studies. The sources for the measures of all the variables are shown in Table 1. The competitive advantage construct includes the dimensions of lower cost and differentiation (Porter, 1985, 1998; Peteraf and Barney, 2003). Lower cost and differentiation measure distinct efficiency and distinct value, respectively, as indicated by McGrath et al. (1996). Lower cost measures the efficiency gained by a firm that enables the firm to drive down its cost. Differentiation, measures a firm’s success in creating extra value for customers through the provision of differentiated products or services.