Explain the cultural factors inhibiting entrepreneurial development

      

Explain the cultural factors inhibiting entrepreneurial development.

  

Answers


Lydia
The cultural factors inhibiting entrepreneurial development.

a) Religion – religious believes may deter entrepreneurial investments in items such as night clubs and pubs.

b) Language – establishing businesses in areas where language barrier may allow poor communication or fear of invation.

c) Personal relationship – Married people may avoid getting involved in business activities since no time is spared for the family.

d) Attitude towards innovation -Especially in cultures which oppose innovation due to fear of change

e) Networks – poor networking and ability to meet people limit new
i) Opportunities
ii) New knowledge
iii) New information.

f) Technology – lack of technical skills and knowledge may slow growth and development of entrepreneurial Lock one out of being competitive.

lydiajane74 answered the question on May 8, 2018 at 01:37


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