Different strokes for different folks: Generational differences, social salience, and social performance

Empirical evidence establishes that entrepreneurs pursue and achieve different goals and objectives with their ventures ranging from purely economic to purely social (e.g. non-profits) in nature. The reason that individual entrepreneurs choose to pursue such divergent paths is currently poorly understood, however. We employ a perspective integrating generational theory, goal-setting theory and the theory of planned behaviour to determine why entrepreneurs of different ages pursue social performance in their ventures. Using a sample of 150 entrepreneurs belonging to Baby Boomer, Generation X and Millennial generations, we examined the relationship between age, social salience and the social performance of their firms. Findings suggest a mediated relationship between age, social salience and social performance.