Introduction to culture
At the beginning of human civilization it can be seen that man has been working
with different parties of the society as well as with the various cultures in satisfying
their needs and wants. The values of a culture shape the people. Culture can be
explained as beliefs, values, attitudes, behavior patterns, different ideas, customs
and norms that exist among people of a society which are unique to them. Depending
on the characteristics of these cultural elements, the behavior of the people will be
decided.
Introduction to entrepreneurial culture
Entrepreneurial culture is a collection of elements like special behaviors, attitudes,
beliefs, ideas, behavior patterns, rites, rituals, and customs which are unique to
entrepreneurs.
A person living in the entrepreneurial society inherits entrepreneurial traits. That
is the person who thinks positively, accepts risks creatively and does innovations.
Moreover, such people are dissatisfied with the status quo and try to change the
prevailing condition. Further those people are very sensitive to the environment and
owing to that sensitivity they have the capability of identifying the opportunities
and chasing them. As soon as the opportunities are identified, they exploit them.
Need for the creation of an entrepreneurial culture
Most of the countries in the world have developed due to the influence of cultural
and social forces.
A Solution to unemployment
Achievement of economic growth
Availability of unused resources
Need for new job creators
Need to minimize the inconsistencies in income distribution
Social and economic factors conducive for the emergence
of an entrepreneurial culture
There are many social and economic factors favorable for the emergence of an
entrepreneurial culture. Some of them are given below.
# Existence of a favorable economic environment
To start and run new businesses, there should be a favourable economic environment
for entrepreneurs. Economic factors should be in favour of business activities. This
include factors such as low interest rates, increase in income level and favourable
foreign exchange rates.
# Stable political condition
Having a political authority which makes favourable rules and regulations and
policies for the identification of solutions to economic and social problems giving
prominence to entrepreneurship while securing it will be very helpful for the
emergence of an entrepreneurial culture. Further the political authority should have
understood the rewards of entrepreneurship.
# Incentives given by government and other organizations
Government and public sector organizations can immensely support the upliftment
of entrepreneurship. Entrepreneurial culture can be developed by giving financial
and non-financial aids.
Examples :-
Giving tax relief
Giving loans under concessionary conditions
Giving training and advice
Giving aids
Facilitating the meetings of local and foreign buyers
Organizing workshops and exhibitions
# Having a family background which encourages entrepreneurship
A family background which encourages entrepreneurship will positively affect
the creation of an entrepreneurial culture. Creation of an environment within the
family which encourages the development of entrepreneurial capabilities will help
the generation of successful entrepreneurs in the future. There is a greater tendency
for new generations to choose entrepreneurial activities when their families have
family businesses which have existed continuously. This too is a favorable factor
which help the emergence of an entrepreneurial culture.
# Encouragement given by large businesses
Large businesses often get the help of small and medium scale businesses when
conducting their businesses. Hence large businesses always provide different aids
to small and medium scale businesses.
Examples :-
Obtaining raw materials and parts required by large companies from
small businesses. Transferring some production activities to small
businesses (sub contracting).
# Ability of obtaining resources
Availability of ample resources and ability to use them for production are factors
which encourage entrepreneurship.
# Role models
Ability to witness role models of successful entrepreneurs in the society is a major
factor which influences the creation of an entrepreneurial culture. Such a guidance
will help the entrepreneurs to understand the way they should proceed.
# Encouragement given by different parties
Encouragement given by the members of the family, school, different societies and
friends, makes a favourable impact for the creation of an entrepreneurial culture. At
present, newspapers and electronic media can play a big role in this regard.
