Concept of Entrepreneurial Culture

Culture encompasses a wide variety of elements, such as values, norms and artefacts. These are dependent on language, social situations, religion, political philosophy, economic philosophy, education, manners and customs.

1. Values

These are ideas about what is important in life. They guide the rest of the society.

2. Norms

These are expectations of how people will behave in different situations. Each culture has different methods called sanctions of enforcing norms.

Sanctions vary with the importance of the norm.

Norms that society enforces formally are called laws

3. Artefacts

These refer to material culture. They are derived from the cultural values and norms.

NB: Culture is dynamic. Cultural change can be caused by the environment inventions and other internal influences and contact with other cultures.

Example: Some inventions that affected western culture in the 20th century were the birth control pill, television and the Internet. The television brought similar visual programmes into many homes but influences how and when family members interact with each other.

The rate of savings and investment depends on the influence of cultural benefits upon the people. The culture may emphasise on some jobs while detesting others. Some communities may be more entrepreneurial than others. For example, the joint family system in which elders opinions are not questioned, may lead to children who are unable to develop, expand, innovate or change the business.

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