Impact Of Culture On Entrepreneurship

A Cultured Entrepreneur

*Siddharth Singh

Abstract

In today’s world entrepreneurship is gaining importance. Not only in the world but also in India entrepreneurship is fast gaining pace. This has led us to examine the different dimensions of entrepreneurship. Profit making, risk taking, autonomy etc are some of the elements which are associated with entrepreneur and entrepreneurship. One key variable which is often not taken into account is the role of culture and cultural variables in shaping the entrepreneurship. Culture guides people about the entrepreneurial activity, associates them with their fellow beings and with society. In this paper we analyze the role of culture in affecting the entrepreneurs and how entrepreneurs get affected by culture. A detailed descriptive analysis of the two way relationship is done citing the important studies and findings done in the respective field.

Keywords

Culture, Entrepreneur/Entrepreneurship, Values, Family

Introduction

Culture is an important variable/factor which directly or indirectly affects each and every individual. A person is affected by values, emotions, societal norms, group behavior etc. An economic principle doesn’t take these factors into account rather economic principles are formulated for a rational man. This is a major fallacy in the economic principles. In this paper we intend to discuss one such behavior of a man i.e. entrepreneur/entrepreneurship. According to economics the main reason for carrying out