Entrepreneurship Development | Journals

The IUP Journal of Entrepreneurship Development

Role of Entrepreneurial Strategy and Business Environmental Perspectives: Evidence from Clay Cluster in West Bengal, India

Article Details

Pub. Date	: Sep, 2022
Product Name	: The IUP Journal of Entrepreneurship Development
Product Type	: Article
Product Code	: IJED010922
Author Name	: Dibyendu Ghosh and Biswajyoti Roy
Availability	: YES
Subject/Domain	: Management Journals
Download Format	: PDF Format
No. of Pages	: 17

Price

Download

Abstract

This study analyzes the business environment aspects and strategic choices and their interrelation that influence the operations of enterprise owners. Environmental issues are represented by the input condition, access to finance, competition from substitute products, marketability based on easy transport, etc. Strategic choices reflect those through which the business goals are expected to be achieved. The study covers 60 clay tiles enterprises in Murlu area of Bankura district, West Bengal (India). Likert scaling technique, principal axis factoring and canonical correlation analysis are used to analyze the success factors of the cluster. The canonical analysis indicates that there is a fairly strong linear relationship between the perceived environmental variables and the set of strategic factors.

Introduction

Business environmental factors play an important role in the success of firms and entrepreneurs should look for ways to adjust their strategies taking into account socioeconomic and institutional opportunities along with government policies. Without a clear business strategy, it is difficult to set meaningful goals and objectives. For this purpose, a logical analysis of the environment in which one operates will both inform and influence the outcome.

Entrepreneurs are self-motivated individuals, who with their creative ideas and active involvement participate in a country's economic and social growth. The development of the entrepreneurial process is typically thought to be influenced by psychological elements such as the ability to accept challenges, motivating factors, and the socioeconomic and cultural