A Conceptual Model of Sociocultural Determinants of Entrepreneurship
The IUP Journal of Entrepreneurship
Syamala Devi Bhoganadam and Dasaraju Srinivasa Rao
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Entrepreneurship in developing countries is an emerging domain of research in the past decade because of its impact on economic development, employment creation, and innovation. It is well known that sociocultural factors play a major role in shaping the entrepreneurial activities in developing countries, but the causal process of this linkage is not clear. In this context, the present paper proposes a mediation analytic framework, where it is proposed that there are mediators called entrepreneurial traits which could explain the causal mechanism of sociocultural factors influencing entrepreneurship. The main objective of the study is to identify those variables on which some structural interventions can be made that could positively influence entrepreneurial success and obtain the resultant benefits thereof.
The term entrepreneurship is first conceptualized by Cantillion in 1755/1931 as uncertainty
bearing. Since then the concept has been transformed into many dimensions by researchers.
Schumpeter (1934) termed entrepreneurs as innovators with five dimensions, Knight (1921)
theorized it as uncertainty bearer and risk taking behavior, McClelland (1961) as achievement
motive, Drucker (2011) as innovators, Gartner (1988) as new venture creators, Kuratko and
Hodgetts (2004) as innovator, and Ronald (2013) as person who commercializes
his/her innovation. With these evolving definitions of entrepreneurship it is clear that
entrepreneurship today involves innovation, risk taking and opportunity recognition.
Entrepreneurship Development Journal, Conceptual Model, Sociocultural Determinants, Religion, Education, Family Background, Social Networks, Entrepreneurship.