ENTREPRENEURSHIP AND ITS PREREQUISITES (4)

ENTREPRENEURIAL MOTIVATION

Ø  Need for power N-POW: Concern for influencing people

Ø  Need for affiliation

Ø  Need for achievement

Ø  Need for autonomy

FACTORS FOR ENTREPRENEURAL MOTIVATION

1.    To make money

2.    To gain social prestige

3.    To secure self employment

4.    Compelling reasons

5.    Unemployment

6.    Dissatisfaction with existing job or occupation

7.    To use technical or professional knowledge facilitating factors

8.    Previous knowledge, experience

9.    Encouragement from family members, friends

10. Imitation of successful entrepreneurs

11. Entrepreneurial ambition

FACTORS RESPONSIBLE FOR THE EMERGENCE AND GROWTH OF ENTREPRENEURSHIP

1.    Background factors

2.    Education training and experience

3.    Family, role models and association

4.    Financial conditions, motivational factors

5.    Need for achievement

6.    Personal motives

7.    Business environment, economic factors

8.    Supportive government policies

9.    Availability of financial assistance

10. Ancillary support reward

11. Recognition

12. Social status