environment factors influencing entrepreneurship

Category: Education

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Environment factors influencing Entrepreneurship : 

Environment factors influencing Entrepreneurship

Entrepreneurial Environment : 

Entrepreneurial Environment Environment – Sum total of external factors within which an enterprise operates. Entrepreneurs do not emerge at their own. Characteristics of Environment:1. Dynamic2. Uncontrollable and External3. Affect the business in varying degrees4. Poses threats and offers opportunities

Factors Affecting Entrepreneurship : 

Factors Affecting Entrepreneurship Factors Economic Factors Social Factors Psychological Factors Facilitating Factors Competitive Factors

Economic Factors : 

Economic Factors Financial Assistance from Institutional Sources Accomodation in Industrial Estate Attitude of the Government Encouragement from Large Business Machinery on Hire-Purchase Labour Conditions Raw Materials Size and Composition of Market

Social Factors : 

Social Factors Family Background Social Status Religion Social Mobility Social Marginality

Psychological Factors : 

Psychological Factors Need Achievement Withdrawal of Status Respect

Competitive Factors : 

Competitive Factors Porter’s 5Forces Model Potential Entrants Rivalry Among Existing Firms Substitutes Suppliers Buyers

Facilitating Factors : 

Facilitating Factors Experience and Training Arrangement of Finance Occupational and Geographical Mobility

Locational Mobility of Entrepreneurs : 

Locational Mobility of Entrepreneurs Represents the drive and initiative to move to other places in search of better opportunities. If entrepreneurial class is limited, there will be strong regional imbalances in industrial development. Key factors influencing:1. Resources2. Experience3. Education4. Language5. Culture6. Nature of Enterprise

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