ENTR THEORIES.docx - Economic Theory Entrepreneurship and...

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Economic Theory •Entrepreneurship and economic growth take place when the economic conditions are favorable •Economic incentives are the main motivators for entrepreneurial activities •Economic incentives include taxation policy, industrial policy, sources of finance and raw material, infrastructure availability, investment and marketing opportunities, access to information about market conditions, technology etc. Sociological Theory •Entrepreneurship is likely to get a boost in a particular social-culture •Society’s values, religious beliefs, customs, taboos influence the behavior of individuals in a society •The entrepreneur is a role performer according to the role expectations by the society Psychological Theory •Entrepreneurship gets a boost when society has sufficient supply of individuals with necessary psychological characteristics •The psychological characteristics include need for high achievement, a vision or foresight, ability to face opposition
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  • Winter '18
  • N/A
  • Entrepreneurship, local economic development, psychological characteristics, Psychological Theory, •Economic incentives, low father dominance

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