factors influencing entrepreneurship

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Factors Influencing Entrepreneurship Ashish Kumar(05) Sushil Mohan(33)

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Factors Influencing Entrepreneurship

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Page 1: Factors Influencing Entrepreneurship

Factors Influencing Entrepreneurship

Ashish Kumar(05)

Sushil Mohan(33)

Page 2: Factors Influencing Entrepreneurship

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

Page 3: Factors Influencing Entrepreneurship

FACTORS

Individual

Factors

Environmental Factors

Socio-Cultural Factors

Support Systems

As per our syllabus

Page 4: Factors Influencing Entrepreneurship

Factors..Individual

Desire to do some thing

new Educational Occupational

Page 5: Factors Influencing Entrepreneurship

Individual Fact…..1- Desire to do some thing new

Need Achievement

Social Status

Page 6: Factors Influencing Entrepreneurship

Individual Fact…..Educational background:

Up to a certain limit, it influence.

Page 7: Factors Influencing Entrepreneurship

Occupational Background

STAG INTERNATIONAL

J R S Tutorials

Career Launcher

Page 8: Factors Influencing Entrepreneurship

Environmental factorsTechnologic

al

Political

PEST

Page 9: Factors Influencing Entrepreneurship

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

of these two.

Page 10: Factors Influencing Entrepreneurship

Economical…………From a strictly economic point of view, it can

be said that the same factors which promote economic development, account for the emergence of entrepreneurship also.

These are-

CAPITAL

LABOUR

RAW MATERIAL

MARKET

Page 11: Factors Influencing Entrepreneurship

CAPITAL………… Capital 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

Page 12: Factors Influencing Entrepreneurship

Labour………….Availability of LabourQuality rather than Quantity

www.bbchindi.com/editors/main/article

Germany-1938

USA-1950Japan-1945

Page 13: Factors Influencing Entrepreneurship

Raw Material…….. The necessity of raw materials hardly needs

any emphasis for establishing any industrial activity, and therefore, its influence in the emergence of Entrepreneurship.

Page 14: Factors Influencing Entrepreneurship

Market………Customer’s prospect………….

Practically , monopoly in a particular market becomes more influential for entrepreneurship than a competitive market

Source:http://iie.gov.in/

Page 15: Factors Influencing Entrepreneurship

TECHNOLOGICAL………Awareness of new TechnologyFore sight of new Technology

Page 16: Factors Influencing Entrepreneurship

Queries???????????

Page 17: Factors Influencing Entrepreneurship

Socio-cultural factors influencing Entrepreneurship

Legitimacy of Entrepreneurship

Social Mobility

Security

Marginality

Page 18: Factors Influencing Entrepreneurship

Family background

Relatives, Friends and Teachers

Religion

Social status

Page 19: Factors Influencing 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, some scholars have proposed the need for a change in traditional values, 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.

Legitimacy of Entrepreneurship

Page 20: Factors Influencing Entrepreneurship

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 conducive to entrepreneurship, in contrast there is another group of scholars, think that a lack of mobility possibility promotes entrepreneurship.

Social Mobility

Page 21: Factors Influencing Entrepreneurship

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

Marginality

Page 22: Factors Influencing Entrepreneurship

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

Security

Page 23: Factors Influencing Entrepreneurship

Nature of family backgroundBusiness backgroundNon business background

Support by family whatever the background is…….

Family background

Page 24: Factors Influencing Entrepreneurship

Risk taking ability of all those

Confidence of all those on personnel

Willingness of all those to help

Relatives, Friends and Teachers

Page 25: Factors Influencing 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;

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

Page 26: Factors Influencing Entrepreneurship

THANKSTHANKS