1“Effectiveness of Entrepreneurship in Identifying Social Entrepreneurial Intent amongMillennials”
2CHAPTER TWO LITERATURE REVIEW2. IntroductionThis chapter provides literature review on the effectiveness of entrepreneurship in identifyingsocial entrepreneurial intent among millennials. It offers literature review on social norms ofentrepreneurial intent among millennials. It also presents literature on perceived barriers andentrepreneurial intent. This literature review further gives information on risk taking andentrepreneurial intent. 2.1 Entrepreneurial Culture among the MillennialsAderibigbe (2019: 1-3), study that based on the interviews of the owners of 191 MSEs out of apopulation of 305 firms, with a resultant response percentage of 63. The study was set withinthe context of rural environment with highly constrained access to financial, human resourcesand social capital and comparatively with weak socioeconomic institutional framework. Thestudy observed that a number of aspects of entrepreneurial behavior dimensions directly andpositively affected performance of the MSEs. It was noted that some of these aspects also havenegative effects while others have weak relationship with firm performance. The studyspecifically found that business interests, achievement need or motivation contributedsignificantly to performance of MSEs. In addition the study found that business growthmotivation is explained by previous growth, asset size, motivation, attitudes, opportunityrecognition and institutional business climate. However, the study found that overallentrepreneurial behavior has moderate positive effects on performance. Similarly, social andeconomic institutions have on the average strong positive effects on the relatedness amidstentrepreneurial trends and the MSEs’ performance. Further, the study found that the combinedeffects of entrepreneurial behavior, social and economic institutions are greater than theirindividual effects, R2 =78.9%. The study experienced limitations regarding the widegeographical scope of the region, security challenges during the data collection stage andobtaining the cooperation of the owners of the MSEs. However, these constraints weremanaged. The current study seeks to establish whether a similar scenario can be said aboutsocial entrepreneurships enterprises in South Africa. Lakemond and Detterfelt (2013: 420-434)observed that creativity lofty heights of taking risks, dynamism characterized anyentrepreneurially oriented culture. Therefore, an entrepreneurially oriented culture; creativity,
3taking risks, innovation emphasis and dynamism. The study results agreed with the firm theoryon the basis that capabilities in the organization were a fountain of competitiveness.