Factors Influencing Entrepreneurship (BBA)

7/28/2019 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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Documents

Factors Influencing Entrepreneurship (BBA)