Ritz Chapter 8 Emerging Issues in Entrepreneurship

Emerging Issues in Entrepreneurship
Chapter 8
Emerging Issues in Entrepreneurship
• Entrepreneurship is the key driven of economics growth. It
is the life blood of any expanding economy, generating jobs,
introducing new product and services, and promoting
forward and backward integration.
Modern entrepreneurship growth is largely shaped
by globalization and rise of information and transportation
technology. Internet has been instrumental in development
of entrepreneurship. The following are some of the emerging
concepts in entrepreneurship growth.
Social issues: social entrepreneurship(SE)
• Social entrepreneurship is applying practical, innovative and
sustainable approaches to benefit the society. Its main emphasis is
to uplift the standard of marginalized and poor people in the
society. The areas of SE are education, health, welfare reform,
human rights, workers’ right, environment economics development,
agricultural, etc. Social entrepreneurship may be non- profit or for-
profit entities. The concept of social entrepreneurship is going
rapidly and attracting increased attention of people. SE come up
with brilliant ideas or creating new products and service that
dramatically improve people’s lives. (contssss……….)
Social issues: social entrepreneurship(SE)
(conts)
SE are society’s change agents, creators of innovations. They always
challenge the status quo( state of affairs) and transform the world.
They empower people to extent their reach, deepen their impact and
fundamentally improve society. Most of the entrepreneur see
opportunity and believe. However, social entrepreneurs first believe
and later search opportunity. The novel peace price winner
Muhammad Yunus who stablished Grameen Bank in Bangladesh is
regarded as the pioneer of SE.
Traits of SE
SE share some common traits. They are explained as follows:
a) Ambitious: SEs are ambitious. They like to tackle major social
issues to fight poverty.
b) Mission Driven: SEs are dedicated towards generating social
values, not wealth. They are always engaged in promoting
systemic social change
c) Strategic: SEs are focused and hard-driving in their pursuit of social
vision.
Conts……………….
Traits of SE(conts.)
d) Resourceful: SEs have limited access to capital and

market support system. As a result, they must be
skilled at mobilizing human, financial, and political
resources.
e) Result oriented: SEs are driven to produce
measurable returns. They always work to enhance
society’s potential to effect social change.
Gender Issues: women
entrepreneurship(WE)
WI is found to grow significantly in the developed countries like the
USA, Canada, Australia, and Germany. However, its condition in the
least developed country like Nepal is still in infant stage.
Some women are involved in entrepreneurship to meet their financial
obligations, some others are involved due to their will of
independence and achievement. WE promotes women
empowerment
WE is entrepreneurship by woman mainly directed towards economic
independence and individuals empowerment.
Issues to consider in fostering WE
The following are the main issues to be considered in fostering WEs.
1) Government rules, regulation, and policies
2) Green approach of entrepreneurship( WEs should be provided
with the assets, resources and incentives to support the green
economy)
3) Enhancement of entrepreneurial role of women
4) Enhancement of competitiveness
5) Removal of barriers
WE in Nepal
The following are some of the issues of WE in Nepal
a) Waiting for opportunity
b) Poor attitude of society
c) Better in small and micro enterprise( 14300 small business with
2% of GDP)
d) Male dominance
e) Poor family support
f) Institutional support
Problems of WE
1) Lack of finance
2) High competition
3) Limited mobility
4) Family relationship
5) Lack of skill and education
6) Male dominant society
7) Low risk bearing capacity
Future challenges of WE
a) Financial and credibility
b) Building a support network
c) Balancing business and family life
d) Fear of success
e) Being decisive
f) Lack of role models
Success factors of WE
a) Financial support policy
b) Women empowerment through education and training
c) Framework for a strategy to support WE
d) Microfinance policy
e) Social support
IMPORTANCE OF WOMEN ENTREPRENEURS
A good share of the population.
Traditionally outside the domain of economic
activities.
They must be made part of the economic
development, because it will ensure the economic &
social development of the women along with
providing more human resources to strengthen the
economy of the country.
The economic status of women is now accepted as an
indicator of a society’s stage of development.
Minority entrepreneurship (ethnic)
ME are business owner who do not belong to the majority
population. Women are also occasionally include as a
minority group.
An ethnic minority entrepreneur is an entrepreneur who
belongs to a minority ethnic group or minority ethnic
community.
An ethnic entrepreneur may or may not be an immigrant but
is likely to belong to a minority ethnic community.
Minority enterpreneurship (conts)
Some good example of minority entrepreneurs in Nepal
1) Jonas Lindblom: Mr. Lindblom is from Sweden. He is married to a
Nepalese women, and considered Nepal as his karmabhoomi. He
is been active getting entrepreneurship going by opening
showrooms of Isadora cosmetic in Kathmandu.
2) Min Bahadur Gurung( founder Bhatbhateni super market): this is
the best time to be an entrepreneur in Nepal
3) Ambica Shrestha( chairpersn dwarikas group of hotel): employee
mindset tends to make your vision limited where as sky is the limit
for entrepreneurs.
MI CONTS……….
4) Icchya Bahadur tamang( MD, CIVIL GROUP): I started business as a
means of living.
5) Prabal Gurung( international fashion designer USA):
6) Anil shah( CEO Mega bank)
7) Francois Driard ( Himalayan french cheese.
Environmental issues(Green
entrepreneurship)
Green entrepreneurship is an approach that adopts principles,
policies and practices to improve the quality of life of the customers,
employees, communities, and the planet. The following are the
characteristics of green entrepreneurship.
a) Socially and environmentally responsible
b) Care to the workers
c) Protections of customers and clients
d) Improve the communities
Energy and resource use efficiency(eco-
efficiency)
•Coined by the World Business Council on Sustainable
Development.
•Eco-efficiency is about “Decreasing Waste” whilst
“Increasing Productivity”.
•Could also be extended to “Cradle to Cradle”(C2C)
thinking, where waste from one process, becomes the
raw materials for another.
efficiency) conts…..
“In nature, one-way linear flows do not long
survive. Nor, by extension, can they long
survive in the human economy that is a part
of the earth's ecosystem. The challenge is to
redesign the materials economy so that it is
compatible with the ecosystem.”
efficiency) conts…..
•Reducing Wastes
•Solid Waste
•Liquid Waste
•Energy Waste
•Reducing Emissions
•Carbon Emissions
•Air Pollutants
•Reducing Use of Hazardous Chemicals
•Reuse of Industrial Waste as a raw material
•Sustainable Raw Materials
•Sustainable Energy use
•Reducing “Excess” and Waste
History of Ecopreneurship
•In 1971, Harvard Business Review runs and article (Quinn
1971) saying that the “ecology movement” could provide
new business opportunities rather than being a
“drain”economic activity.
•Early 1990’s a more nuanced examination of
‘ecopreneurialism emerges’, with the term being used more
widely (Bennett 1991), (Berle1991) & (Blue, 1991)
•Small but growing body of literature–especially now the
issues are recognised in the mainstream.
Eco-preneurship
An entrepreneur whose business efforts are not only driven by profit but
also bye a concern for environment.
Drivers for ecopreneurship:
•Global Population Growth
•Increasing Life Expectancy
• Climate Change
•Resource Scarcity
•Lack of Equity in the World
•Human Right

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Emerging Issues in Entrepreneurship

d) Resourceful: SEs have limited access to capital and

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