Factors Influencing Entrepreneurship

Ashish Kumar(05) Sushil Mohan(33)

Entrepreneurship is the act of being an entrepreneur which is a French word meaning one who undertakes and endeavor.

http://en.wikipedia.org/wiki/Entrepreneurship

F  A C T O R S Individual Factors Environm ental Factors SocioCultural Factors Support Systems As per our syllabus .

Factors. Individual Desire to do some thing new Educational Occupational ..

Desire to do some thing new Need Achievement Social Status ..Individual Fact…. 1.

Individual Fact…. Educational background:  Up to a certain limit.. . it influence.

Occupational Background J R S Tutorials STAG INTERNATIONAL Career Launcher .

Environmental factors Technological P E S T Social Economical Political .

It consists of Political and Legal factors both. . The countries like India has a greater impact of these two.Political………….

Economical………… From a strictly economic point of view. These areCAPITAL LABOUR RAW MATERIAL MARKET . account for the emergence of entrepreneurship also. it can be said that the same factors which promote economic development.

org/jsp/resources/resources.jsp . therefore. and Raw Material of yet another to combine them to produce goods. http://www.CAPITAL………… Capital is one of the most important perquisite to establish the enterprise. regard as Lubricant to the process of production. Machine of another.nenonline. Availability of capital facilitates the Entrepreneur to bring together the Land of one. Capital is.

 Availability of Labour  Quality rather than Quantity Germany-1938 Japan-1945 www.com/editors/main/article USA-1950 .Labour………….bbchindi.

and therefore. The necessity of raw materials hardly needs any emphasis for establishing any industrial activity.Raw Material…….. . its influence in the emergence of Entrepreneurship.

Practically .gov. monopoly in a particular market becomes more influential for entrepreneurship than a competitive market Source:http://iie.Market……… Customer’s prospect………….in/ .

TECHNOLOGICAL……… Awareness of new Technology Fore sight of new Technology .

Queries??????????? .

Socio-cultural factors influencing Entrepreneurship Legitimacy of Entrepreneurship Social Mobility Marginality Security .

Family background Relatives. Friends and Teachers Religion Social status .

Legitimacy of Entrepreneurship  Relevance of a system of norms and values within a socio-cultural setting for the emergence of entrepreneurship.  Schumpeter recognizes importance of such legitimacy in terms of appropriate social climate for entrepreneurship. .  To increase the legitimacy of entrepreneurship. which are assumes to be opposed to entrepreneurship  Scholars like McClelland also point out that a complete change may not be necessary but traditional values can be re interpreted and synthesized with newer values. some scholars have proposed the need for a change in traditional values.

think that a lack of mobility possibility promotes entrepreneurship. 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 conducive to entrepreneurship. . in contrast there is another group of scholars.Social Mobility  Involve the degree of mobility.

Marginality  The term social marginality refers to a state of being excluded from the social fabric and being treated as an outsider. .

Security  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 to emerge under tribulent condition than under condition of equilibrium  Security is a significant factor for entrepreneurship development because individuals may be fearful of losing his economic assets by behaviouring entrepreneurially .

Family background  Nature of family background Business background Non business background  Support by family whatever the background is……. .

Relatives. Friends and Teachers  Risk taking ability of all those  Confidence of all those on personnel  Willingness of all those to help .

 Providing the starting businesses with a package of the related materials  Favorable market condition for the product to be introduced .  Providing free consultations to businesses in their starting phase.Support systems for entrepreneurship  Informing businesses of the measures of the support systems to entrepreneurship.  Disseminating information on the services provided by other entrepreneurship supporting funds and foundations.

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