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7/31/2019 Entrepreneur 5
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Entrepreneurship
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Entrepreneurship
“The entrepreneurship is essentially a
creative activity or it is an innovative
function”.- A Schumpeter
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Entrepreneurship
Entrepreneurial Culture
Set of values , norms and traits that are
conducive to the growth of entrepreneurshipAdministrative Culture
Corporate culture which focuses on existing
opportunities , organisational structures andcontrol procedures
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Barriers to Entrepreneurship
• Regulatory barriers
• Economic and financial barriers
• Cultural and social barriers
• Personal Barriers
• Other
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Barriers to Entrepreneurship
Regulatory barriers
• Excessive, Complex, and Arbitrary Taxation
•Excessive Licensing and RegulatoryRequirements
– Protectionism
–
Patents – Red Tapism
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Barriers to Entrepreneurship
Economic and financial barriers
• Lack of seed capital
•Difficult access to finance
• Conservative mindset of financers
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Barriers to Entrepreneurship
Cultural and social barriers
• Social stigma
•Language barriers, discrimination, etc.
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Barriers to Entrepreneurship
Personal Barriers
• Lack of viable concept
•Lack of market knowledge
• Limited business, management and
marketing skills
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Barriers to Entrepreneurship
Other
• Education System
•Lack of appropriate role models inentrepreneurship
• External environment
–
Unfavourable Market fluctuations – Change in Government Policies
– Unreliable supply of inputs
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Support to Entrepreneurship
Government
• Increased and improved incentives for
entrepreneurs• Easy availability of capital.
• Encouraging the development of venture
capital companies.• Easing regulatory norms
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Support to Entrepreneurship
• Technical education & support
• Local business incubators
•
Tax subsidySociety
• Encourage entrepreneurial talent
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Features of Entrepreneurship
• Gap filling function-H. Liebenstein
• Function of status withdrawal-E.E. Hagen
•
Function of social, political and economicstructure-John H. Kunkel
• Function of religious beliefs-Max Weber
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• The Entrepreneurial Personality-person, skills,
styles and motives
• The Entrepreneurial Task-ability to recognise
and exploit opportunities
• The Entrepreneurial Environment-economic,
sociocultural, politico-legal factors
• The Organisation Context-organisation
structure, definition of work roles, culture, etc.
Model of Entrepreneurship
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Theories of Entrepreneurship
• The economist’s view :
– Advocated by G.F. Papanek & J.R. Harris
– Economic incentives are main drive for
entrepreneurship
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• The sociologist’s view:
– Propose by Cochran, Weber, Hoselitz, Stokes,
Hagen, etc.
– Social sanctions ,cultural values, religious beliefs,
occupational requirements, and role
expectations are factors responsible for
entrepreneurial growth
Theories of Entrepreneurship
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• The psychologist’s view :
– Suggested by McClelland, Schumpeter, Hagen,
Kunkel, etc.
– Depends on individual psychological make up
which in turn is based on factors like withdrawal
of status, child rearing practices, social
surroundings, etc.
Theories of Entrepreneurship
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Motivating Factors
Entrepreneurial Reasons
• Money
• Family business
• Independent living
• Fulfill desires
• Social prestige
• Others- education, creativity, provide
employment to others
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Motivating Factors
Compelling Reasons
• Unemployment
•
Dissatisfaction with job• Continue family business
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Questions?
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