The Impact of Cultural Factors of Entrepreneurial Performance Selected Private Firms
CHAPTER ONE
Purpose of Study
The general objectives of this study is to identify the impact of cultural factors on entrepreneurs performance. However, the specific objective of the study includes;
- To identify various cultural factors that imitate against the performance of entrepreneurs and to what extent they affect them.
- To identify the present effect of cultural factors on entrepreneurial performance.
- To examine entrepreneurs reactions towards cultural changes and their coping strategies.
- To examine other non-cultural factors and the extent to which they affect entrepreneurs.
CHAPTER TWO
REVIEW OF RELATED LITERATURE
Introduction
Entrepreneurship is about those individuals who discover and assess the opportunities (Pihie 2009). It offers individuals to enjoy selfemployment, economic development, innovation, job creation and social development (Turker 2009). Entrepreneurs are those people who have personality traits and intention to start a new business while using innovation as a tool to develop and enhance their business (Ahmed et al. 2010). Entrepreneurship is a dynamic process for the development of nations and regions. It has now become the priority focus for socio economic growth of the nations (Liñán et. al. 2009). It brings new ideas and maximizes profit which accelerates to economic development (Turker 2009). Entrepreneurial behavior has been dramatically increased in last few decades due to its importance for development in many countries that have emerging trends in their socio economic development (Zain et. al. 2010). World is realizing the importance of entrepreneurship which is the source of selfemployment as well as the economic development (Ali et. al. 2010).Entrepreneurial intention is influenced by the socialization process, social networking, environment, parental support and family business experience (Tuker 2009). There is a major difference in cultural values and the norms across the cultures which influence entrepreneurial activity within that country or region (Morris, 2005).Cultural values are the essential element to make sense about entrepreneurship which influences the behaviors of people in a society (Turker 2009). National culture impacts on entrepreneurial behavior through the cultural values which are the essential part of society (Kreiser et. al. 2010). As culture is the transformation of learned behavior in generation to generation through language and imitation. Culture includes patterns of values, ideas and symbolic features which shapes the human behavior and it is the process of distinguish of one group from another through system of values (Mueller 2000). Values and norms are the standard patterns of human behavior to control them which shapes the human cognition and motivational variables to guide choices, commitments and standards of behaviors. The system of values which shapes human mind specifies the group or society which motivate or shape individual may not prevail in other society as the difference in values (Mueller 2000). Culture is a scaffold through which an individual can shape their behavior as well as collectiveness in society; it is the source for creating exclusivity in business enterprise. It provides support to deal with those issues the enterprenurers confront on day to day basis (Lounsbury and Glynn, 2001). Moreover culture is the way of thinking and feeling of a “mental programming” in a patterned way which differ one person from other. Mental programming refers those ideas which are attached with the societal norms and values that pass through one generation to the next (Baughn and Neupert 2003). Social norms are the unrecorded rules of conduct of a group which impact the individual-level decision-making process. These are shared by others and prevail in society by their approval which maintain unwanted motivations and helps an individual in decision making process. Social norms help an individual in changing behavior according to environment (Meek et. al. 2010). Subjective norms have influence on entrepreneurial behavior due to unemployment and family commitment. Expectations of family and friends influence an individual for entrepreneurial behavior (Kennedy et. al. 2003). Family plays an essential role for economic activity for the creation of firms and their growth. Family represents the important part of culture and has the significant impact on the performance of its members. Moreover, family provides opportunities to its members to develop networking. Traditional families play important roles in business and society because of the stronger ties and relationships for the enhancement of business, for maintaining their position in society and to maintain their power as well (Steier 2004). Peer group is the main source for social interaction as well as to develop entrepreneurial intention. Entrepreneurship education provides various opportunities for students in social interactions with their teachers and peer groups which affect on the entrepreneurial learning process and provide a source for entrepreneurial intention. Through the interaction with peers, it influences the individual and develops new ideas and helping in to recognize new opportunities as well as opportunity creation.
CHAPTER THREE
RESEARCH METHODOLOGY
Research design
The researcher used descriptive research survey design in building up this project work the choice of this research design was considered appropriate because of its advantages of identifying attributes of a large population from a group of individuals. The design was suitable for the study as the study sought to ascertain the impact of cultural factors of entrepreneurial performance in selected private firms
Sources of data collection
Data were collected from two main sources namely:
Primary source and Secondary source
Primary source:
These are materials of statistical investigation which were collected by the research for a particular purpose. They can be obtained through a survey, observation questionnaire or as experiment; the researcher has adopted the questionnaire method for this study.
Secondary source:
These are data from textbook Journal handset etc. they arise as byproducts of the same other purposes. Example administration, various other unpublished works and write ups were also used.
CHAPTER FOUR
PRESENTATION ANALYSIS INTERPRETATION OF DATA
Introduction
Efforts will be made at this stage to present, analyze and interpret the data collected during the field survey. This presentation will be based on the responses from the completed questionnaires. The result of this exercise will be summarized in tabular forms for easy references and analysis. It will also show answers to questions relating to the research questions for this research study. The researcher employed simple percentage in the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain the impact of cultural factors on entrepreneurial performance of selected private firms in port Harcourt metropolis.
In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of cultural factors and entrepreneurial performance in Nigeria.
Summary
The study investigated the role played by the Socio-cultural Business Environment in nurturing and building Entrepreneurial Intention especially in the young people using related past literature. A clear evidence has been established which insinuates that Education, Religion and Family background have a key role in developing Entrepreneurial Intention. Thus, for purpose of boosting supply of entrepreneurs, these factors should be given adequate attention and included in the framework due to the vital role they have been found to play. However, an empirical research is suggested to be carried out in order to concretize the findings of this work by establishing empirical evidence on how each of the factors aids Entrepreneurial Intention
Conclusion
The study discovered primarily that socio-cultural factors can influence both positively and negatively entrepreneurial emergence in a society. The references in the analysis confirm opinions in the theories of entrepreneurial emergence which are rooted in the theory of social behavior. It also focuses on values and occurrences that the behavior and the individual decision process is being influenced and motivated by socio cultural aspects. The lifestyles including social and economic conditions are also influenced as indicated in the study. An individual person with his distinct characteristics influences the society as well. The socio cultural environment has all its dynamics to influence the environment as well as individual values which directly influence his decisions and actions in all endeavors. The study reveals the impact of socio-cultural environment on entrepreneurship poses a challenge about the need for the Bangladeshi society to have new values and orientation favorable to entrepreneurship and emergence of entrepreneurs. Day by day new challenges are emerging and the society is fighting to accept and convert it into a facility. The Bangladeshi socio-cultural system should be reengineering its societal values be undertaken to get people out of the traditional ties, negative attitudes and behavioral pattern, to develop a new set of positive values that attract and facilitate entrepreneurial emergence. It will give the society an option to convert challenges into opportunities.
Recommendations
Since the employment opportunities are decreasing day by day in government sector, Government should help the people in establishing small and medium entrepreneurial ventures by providing loans to the young graduates. This can contribute positively to engage people in business related activities at all level. Government should make flexible policies to attract young graduates to be an entrepreneur to develop their socio-economic status. Jobian families must involve in entrepreneurship. Peer should share their knowledge with one another. Elders of the families, who have already been doing family business, must disseminate business ideas among other members of the family through socialization and informal education.
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