factors influencing entrepreneurship (bba)
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Factors Influencing Entrepreneurship
Ashish Kumar(05)Sushil Mohan(33)
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Entrepreneurship is the act of being an entrepreneur whichis a French word meaning one who undertakes and
endeavor.
http://en.wikipedia.org/wiki/Entrepreneurship
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FA
CTORS
IndividualFactors
EnvironmentalFactors
Socio-CulturalFactors
SupportSystems
As per our syllabus
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Factors..Individual
Desire to dosome thing
new
Educational Occupational
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Individual Fact..1- Desire to do some thing new
Need Achievement
Social Status
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Individual Fact..Educational background:
Up to a certain limit, it influence.
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Occupational Background
STAG INTERNATIONAL
J R S Tutorials
Career Launcher
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Environmental factorsTechnological
Social
Economical
Political
PEST
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Political.It consists of Political and Legal factors both.
The countries like India has a greater impact of these
two.
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EconomicalFrom a strictly economic point of view, it can be said that
the same factors which promote economicdevelopment, account for the emergence ofentrepreneurship also.
These are-
CAPITAL
LABOUR
RAW MATERIAL
MARKET
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CAPITALCapital is one of the most important perquisite to establish the
enterprise. Availability of capital facilitates the Entrepreneur to
bring together the Land of one, Machine of another, and Raw
Material of yet another to combine them to produce goods.
Capital is, therefore, regard as Lubricant to the process of
production.
http://www.nenonline.org/jsp/resources/resources.jsp
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Labour. Availability of Labour Quality rather than Quantity
www.bbchindi.com/editors/main/article
Germany-1938
USA-1950Japan-1945
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Raw Material..
The necessity of raw materials hardly needs any
emphasis for establishing any industrial activity, andtherefore, its influence in the emergence ofEntrepreneurship.
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MarketCustomers prospect.
Practically , monopoly in a particular market becomesmore influential for entrepreneurship than acompetitive market
Source:http://iie.gov.in/
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TECHNOLOGICALAwareness of new Technology
Fore sight of new Technology
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Queries???????????
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Socio-cultural factors influencing
Entrepreneurship
Legitimacy of Entrepreneurship
Social Mobility
Security
Marginality
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Family background
Relatives, Friends and Teachers
Religion
Social status
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Relevance of a system of norms and values within a socio-culturalsetting for the emergence of entrepreneurship.
Schumpeter recognizes importance of such legitimacy in terms ofappropriate social climate for entrepreneurship.
To increase the legitimacy of entrepreneurship, some scholars haveproposed the need for a change in traditional values, which areassumes to be opposed to entrepreneurship
Scholars like McClelland also point out that a complete change may notbe necessary but traditional values can be re interpreted andsynthesized with newer values.
Legitimacy of Entrepreneurship
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Involve the degree of mobility, both social and geographical
The opinion that the social mobility is crucial for entrepreneurial
emergence is not unanimous
Some scholars have the view that a high degree of mobility is conduciveto entrepreneurship, in contrast there is another group of scholars,
think that a lack of mobility possibility promotes entrepreneurship.
Social Mobility
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The term social marginality refers to a state of being excluded from thesocial fabric and being treated as an outsider.
Marginality
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Several scholars have advocated entrepreneurial security as an
important facilitator of entrepreneurial behaviors
No consensus on amount of security needed
Peterson and Berger maintain that entrepreneurship is more likely toemerge under tribulent condition than under condition of equilibrium
Security is a significant factor for entrepreneurship developmentbecause individuals may be fearful of losing his economic assets by
behaviouring entrepreneurially
Security
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Nature of family background
Business background
Non business background
Support by family whatever the background is.
Family background
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Risk taking ability of all those
Confidence of all those on personnel
Willingness of all those to help
Relatives, Friends and Teachers
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Informing businesses of the measures of the support systems toentrepreneurship;
Disseminating information on the services provided by other
entrepreneurship supporting funds and foundations;
Providing free consultations to businesses in their starting phase;
Providing the starting businesses with a package of the related
materials
Favorable market condition for the product to be introduced
Support systems for entrepreneurship
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