Professional Documents
Culture Documents
Its basic purpose is to motivate people for entrepreneurship career and to make them capable of perceiving and exploiting business opportunities.
Economic
Social
Legal
Cultural
Technological
Political
Psychological
International
Economic environment exercises the most direct and immediate influence on entrepreneurial development. Capital, labour, market and raw materials, tariff policy and subsidies are the main
economic factors.
i.
Capital Entrepreneurial development is capital oriented. Capital is the most important prerequisite to establish an enterprise.
ii. Labour It is not the quantity of labour, but its quality which facilitates entrepreneurial development.
iii. Market The potential of the market constitutes the major determinant for the development of entrepreneurship.
iv. Raw Materials - The availability of raw materials and their proper exploitation has great significance in entrepreneurial development.
v. Tariff Policy Efficacious tariff policy provides a base for entrepreneurs to have wider avenues for entrepreneurial activities.
vi. Subsidies Government provides economic assistance in the form of subsidies in the economic activities which the entrepreneurs have already undertaken.
development.
Social Status Every human being wants to achieve a high status in life and his desires and aspirations keep on increasing.
Social Mobility The degree of social mobility both social and geographical has a strategic role in entrepreneurial development.
influenced.
Family background
Education The level of education forms the strategic pillar on which the growth of entrepreneurship rests. Education can create new vistas for
entrepreneurial development.
by the government.
Political forces generally define the business climate by the constraints they impose and by the
Need achievement -Need achievement is a social motive to excel that tends to characterize
successful entrepreneurs
Withdrawal of status respect -Hagen attributed the withdrawal of status respect of a group to the genesis of entrepreneurship.
Withdrawal of status respect would give rise to four possible reactions and create four different personality types :
Retreatist Ritualists Reformists
Innovators
Motives Cole
is of the opinion that besides wealth , entrepreneurs seek power, prestige, security and service to society.
Stepanek
points particularly to non-monetary aspects such as independence, persons selfesteem, power and regard of the society
Various variables which are concerned and created from outside environment of
Role of multinational companiesEntrepreneurs who develop attractive new products for home market, sometimes also earned demand in foreign market are
Innovative products - Entrepreneurs get technical knowledge and ideas from foreign
countries .
It
Catalytic
It includes the expertise, procedures and systems adopted by entrepreneurs to ensure necessary changes in the transformation process and in goods and services.
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