Cultural Characteristics Of Entrepreneurship

Entrepreneurship

With Baumol (2010) stating that the term ‘entrepreneurship’ lacks a clear theoretical consensus, this dissertation begins with a holistic exploration of the topic, followed by its characteristics in female-led ventures. McAdam (2012) argues that when discussing entrepreneurial discourse (entrepreneur, entrepreneurship, enterprise) contextual sensitivities must be heeded, as the term can be influenced by industrial, geographic, and cultural dimensions. Furthermore Kerlin (2006) suggests that in the context of developing nations, entrepreneurs may not consider themselves to be entrepreneurs, either because they are unware of the topic or because no such lexicon exists in their language for this practice. Below, we explore several empirical and theoretical viewpoints to define entrepreneurship in a manner that enables valid indicators to be collected and compared across Indian and international perspectives.

For leading theorists Schumpeter (1936) and Drucker

Often excluded from access to organized financial services, BOP entrepreneurs face considerable barriers when attempting to realize their economic potential. BOP entrepreneurs are predominantly situated in developing nations, where local governments often struggle to create sustainable business incentives. In response to this lack of support, avenues such as microcredit are becoming increasingly popular, leading to over four million ventures launching last year through microcredit (Valente and Crane, 2010). The BOP’s consumer influence is also growing; valued at $5 trillion in purchasing power parity terms, it has become a desirable object for multinational enterprises (MNEs) wanting to cater to poorer citizens (Jha,