Journal article
Impact of macro-environmental factors on entrepreneurship development in developing countries
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Publication Details Author list: Makgosa R, Phambuka-Nsimbi C, Themba G Publication year: 1999 Journal: African entrepreneurship and small business development Start page: 103 End page: 119 Number of pages: 17 |
INTRODUCTION T The term entrepreneur has been defined in many different ways. To date there are probably as many definitions of the term as there are experts in the field. For our purpose, we define an entrepreneur as an individual who possesses a significant level of the following personality attributes: initiative, self-confidence, moderate risk propensity, individuality, innovativeness and creativeness. Although the list is nonexhaustive these appear to be the most important qualities that distinguish entrepreneurs from non-entrepreneurs (Chinyoka et. al, 1997). The sociocultural, economic, technological, political and legal environments have enduring influences on the development of personality attributes such as entrepreneurship (Kanungo et. al, 1990). This chapter highlights the importance of these macro-environmental forces on entrepreneurship development. In particular, it seeks to explain how these facilitate or hinder the development of entrepreneurship in developing nations. Possible intervention strategies and areas for further research are also identified. The chapter also emphasizes the adoption of the situational approach in addressing problems of entrepreneurship in Africa. The situational framework is important because it forces those concerned with
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