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Emerging entrepreneurial ecosystems (EEEs) are often evaluated using tangible metrics like new products, patents, and venture capital funding. However, Hannigan et al. (2022) [10] argue that understanding these ecosystems requires considering cultural factors alongside material ones. They emphasize that cultural elements, such as community ...
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.
Entrepreneurial economics is the field of study that focuses on the study of entrepreneur and entrepreneurship within the economy. The accumulation of factors of production per se does not explain economic development. [1] They are necessary factors of production, but they are not sufficient for economic growth. [2]
For example, the Global Entrepreneurship Monitor Report by NatWest found that the early-stage entrepreneurial rate—which it defines as the propensity of individuals to be entrepreneurial in ...
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.
Social entrepreneurship is an approach by individuals, groups, start-up companies or entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or environmental issues. [1] This concept may be applied to a wide range of organizations, which vary in size, aims, and beliefs. [2]
Entrepreneurial orientation (EO) is a firm-level strategic orientation which captures an organization's strategy-making practices, managerial philosophies, and firm behaviors that are entrepreneurial in nature. [1] Entrepreneurial orientation has become one of the most established and researched constructs in the entrepreneurship literature.
Social factors include cultural aspects and health consciousness, population growth rate, age distribution, career attitudes and safety emphasis. Trends in social factors affect the demand for a company's products and how that company operates.