Assessing the Effect of Endogenous Culture, Local Resources, Eco-Friendly Environment and Modern Strategy Development on Entrepreneurial Development

Abdulakim Erbo Gobena,Shashi Kant

doi:10.52633/jemi.v4i1.153

Abdulakim Erbo Gobena, Shashi Kant

Open Access

https://doi.org/10.52633/jemi.v4i1.153

Copy DOI

Abstract

Entrepreneurship is currently a global concern as its great contribution and key solutions to the economy by providing more job opportunity, income generation area, the basis for technology transfer and development and non-economic with regard to sustaining political and social activities, increasing intention of equal resource sharing and active participation in economic development is gradually increasing. This significant contribution became challenged with many key determinant factors such as indigenous culture, local resources, eco-friendly environment and modern development strategies directly or indirectly with the power of influencing entrepreneurship development. This paper aims to assess the effect of indigenous culture, local resources, eco-friendly environment and modern development strategies on entrepreneurial development. As the nature of this study is exploratory, extensive review of literature through systematic, clear, and reproducible design for detecting, evaluating, and inferring the existing body of recorded 106 documents from published and unpublished journal articles, international reports and books related to issues was used as a secondary data source. The study pointed out that indigenous culture like indigenous leadership culture, indigenous team working and indigenous skills have a significant effect on entrepreneurial development; local resources such as infrastructure, local human capital and finance limitation, environmental marketing, innovation and distinctive competitive advantage have a significant impact on entrepreneurial development. The study implicates a distinctive gap between eco-friendly environmental theory and the practical application of green products for entrepreneurial development. Further empirical research will be needed for future studies. Finally, the study forwards future concern areas and recommends the value of this work with its limitations.

Highlights

Entrepreneurial development is the sequence of boosting skill, ability, and knowledge of entrepreneurs through institution building programs
Indigenous culture is a collective of people having one category with broadfeelings and habits expressed in visible things such as race, language, communication styles, dressing style and eating culture which have significant effect on working for economic benefit that used for entrepreneurial development (Lindsay et al, 2006)
Entrepreneurial development is the change and growth passing through many challenges such as indigenous culture, local resource utilization, eco-friendly business activities and development of modern strategies

Summary

Introduction

Entrepreneurial development is the sequence of boosting skill, ability, and knowledge of entrepreneurs through institution building programs. Indigenous financial control system plays key role for the growth of entrepreneurship activities emanating from within group of indigenous cultural values (Ojera, 2019). Local resources such as human capital, infrastructure, finance and technology and social resources are used for entrepreneurial development, but insufficient provision of these resources may lead to improperly developed entrepreneurship (Ohanu, 2021). Local resources such as raw materials, infrastructure, local workforce, and local finance used as input are key needs and in the future that contributes to entrepreneurial development (Dewulf et al, 2021)

Objectives

Methods

Results

Conclusion