Anchored in Dynamic Capability Theory (DCT), this study aims to develop and test an integrative account of how fourth industrial revolution (4IR) skills and family support (FS) jointly shape opportunity-based entrepreneurship (OBE), specifying the mechanisms through which individual competencies and relational enablers, particularly family and communities, coproduce opportunities that translate into entrepreneurial success in contemporary socioeconomic environments.
Using multiple regression analysis, a widely used econometric method, this study analyses data from 146 entrepreneurs to assess how different skills and FS impact OBE. This approach provides insights into which factors are most influential in shaping entrepreneurial outcomes. Furthermore, descriptive analyses of the demographic variables were performed using the Python programming language (Py). For the inferential analysis, SPSS was used to perform regression analysis and determine the strength and significance of the relationships between 4IR skills, FS and OBE. Subsequently, Py was used for significance and impact categorization of regression coefficients.
The regression analysis, using significance and impact categorization of coefficients, reveals that social skills (SO) and FS exert a significant and impactful positive influence on OBE, with problem-solving skills (CPS) showing a positive but marginally significant effect. Conversely, technical skills (Tech), systems thinking (SYS) and resource management skills (RMS) are classified as nonsignificant and lack substantial impact, indicating their limited predictive power in this context. These results underscore that, in the dynamic modern business environment, adaptability, network-building capabilities and complex problem-solving are more critical drivers of entrepreneurial success than technical proficiency alone.
Based on Dynamic Capabilities Theory, entrepreneurs in the 4IR can enhance OBE by strengthening their abilities to sense, seize and transform. Social skills and FS help identify opportunities through networks and awareness. Problem-solving enables action in uncertain environments, while FS also boosts adaptability and resilience. For policymakers and educators, this means going beyond technical skills to foster human-centered, socially community-grounded ecosystems that support innovation and adaptability.
By connecting 4IR skills and FS to OBE, to the best of the authors’ knowledge, this study offers new insights into the dynamic capabilities that drive entrepreneurial success in a tech-driven world. It challenges traditional views that prioritize technical skills, showing that adaptability and external support networks are critical in today’s entrepreneurial ecosystem.
