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MGT602 Entrepreneurship Assignment No 02 Fall 2020 Solution / Discussion Due Date: 27-12-2021

MGT602 Entrepreneurship Assignment No 02 Fall 2020 Solution / Discussion Due Date: 27-12-2021

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MGT602 Assignment Solution # 2 Fall 2020 - 21 ||Entrepreneurship||

MGT602_Assignment_No_02_Solution_Fall_2020

Click on the below link to download the file

MGT602_Assignment_No_02_Solution_Fall_2020

MGT602_Assignment_No_02_Solution_Fall_2020

Click on the below link to download the file

MGT602_Assignment_No_02_Solution_Fall_2020

MGT602 Assignment 2 Solution idea Fall 2020

 

Requirement:

Identify at least 4 institutional obstacles which prevent business graduates from being an Entrepreneur in any developing country like Pakistan.

Answer:

The prospects of a career as an entrepreneur depend on the economic environment, which Can be facilitative or detrimental. A multitude of factors determine this environment: rules and Regulations, the quality of government, the availability of education, and the ambient culture. Many of these factors fall under the heading of institutions, by which we mean the constraints on behavior imposed by the state or societal norms that shape economic interactions of particular importance in determining the abundance of entrepreneurs are the following:

 

  1. Rules, regulations, and property rights, and their enforcement matter because they affect What we call transactional trust: the degree of trust the parties to a business transaction place in each other. Entrepreneurship requires long term transactions, such as skilled employees or financial backers investing their time and money now for rewards in the distant future.

 

  1. Government matters because it establishes and enforces rules, regulations, and property rights. Good government raises transactional trust and so facilitates entrepreneurship. Insufficient government fails to protect the rights of the weak, and this discourages entrepreneurship. What impoverished entrepreneur would work day and night to build a new firm knowing that robber barons will seize it at the first signs of profit? But excessive government can be just as bad.

 

  1. Culture matters, for the literature shows that authoritarian and hierarchical societies fail to honor self-made success, and social status is surely part of the payoff to entrepreneurs.

 

  1. Very basic institutions matter profoundly. Universal basic education lets latent entrepreneurs realize that opportunities exist. Openness to the outside world lets in foreign ideas and opportunities along with foreign goods and capital. Diversity also matters because it opens minds to new ideas. These factors all affect entrepreneurship because they stimulate information exchange. New ideas are a necessary condition for successful entrepreneurship.

MGT602 Assignment 2 Solution idea Fall 2020

 

Requirement:

Identify at least 4 institutional obstacles which prevent business graduates from being an Entrepreneur in any developing country like Pakistan.

Answer:

The prospects of a career as an entrepreneur depend on the economic environment, which Can be facilitative or detrimental. A multitude of factors determine this environment: rules and Regulations, the quality of government, the availability of education, and the ambient culture. Many of these factors fall under the heading of institutions, by which we mean the constraints on behavior imposed by the state or societal norms that shape economic interactions of particular importance in determining the abundance of entrepreneurs are the following:

 

  1. Rules, regulations, and property rights, and their enforcement matter because they affect What we call transactional trust: the degree of trust the parties to a business transaction place in each other. Entrepreneurship requires long term transactions, such as skilled employees or financial backers investing their time and money now for rewards in the distant future.

 

  1. Government matters because it establishes and enforces rules, regulations, and property rights. Good government raises transactional trust and so facilitates entrepreneurship. Insufficient government fails to protect the rights of the weak, and this discourages entrepreneurship. What impoverished entrepreneur would work day and night to build a new firm knowing that robber barons will seize it at the first signs of profit? But excessive government can be just as bad.

 

  1. Culture matters, for the literature shows that authoritarian and hierarchical societies fail to honor self-made success, and social status is surely part of the payoff to entrepreneurs.

 

  1. Very basic institutions matter profoundly. Universal basic education lets latent entrepreneurs realize that opportunities exist. Openness to the outside world lets in foreign ideas and opportunities along with foreign goods and capital. Diversity also matters because it opens minds to new ideas. These factors all affect entrepreneurship because they stimulate information exchange. New ideas are a necessary condition for successful entrepreneurship.

MGT602 Assignment 2 Solution Fall 2020

Click on the below link to download the file

MGT602 Assignment 2 Solution Fall 2020

 

 

MGT602 Assignment No.2 2021

 

 

  • Low of Living Standard
  • Joint Family and Caste system
  • Unproductive Expenditure
  • Customs and Traditions
  • Low Participation of Women
  • In-efficient Entrepreneur

 

 

  1. Low of Living Standard

 

A low level of living is a hurdle in the way of economic development. Our population is backward and its growth rate is as high as 2.05 % Poor population is not provided appropriate facilities to make a high standard of life. Low level of living, low income, inadequate housing facilities, poor health etc. are the problems of economic development.

 

  1. Joint Family & Caste system

 

Joint family system is also one of the main obstacles in the way of economic development. In a joint family system, all the members of the family do not work. They depend upon one another. Similarly, due to the caste system rich and superior class do not work hard. 32.17 % population is working and 67.83 % is depending upon them in Pakistan.

 

  1. Unproductive Expenditure

 

Most of the expenditure of people is unproductive like expenditure on various rural fairs and festivals. People in developing countries prefer to keep resources in a cash form in lockers at home. They invest in real estate and in gold and silver ornaments. These resources can be used for economic development.

 

  1. Customs & Traditions

 

In developing countries like Pakistan, people spend a huge portion of their incomes on customs and traditions. Sometimes they have to take part in the arrangements of rural festivals that reduce their savings. People have to spend more on marriage, birth and death times in our country.

 

  1. Low Participation of Women

 

Almost 49 % population is female in Pakistan and out of them only 20 '1/4, takes an active part in economic activities. These facts are showing a little participation of women in economic activity that is also an obstacle in the way of economic development. The woman labor force is just 10.96 million

 

  1. In-Efficient Entrepreneur

 

Due to illiteracy and lack of training institution in our country entrepreneur is in-efficient. An in-efficient entrepreneur is a cause of economic backwardness. The illiterate entrepreneur cannot maintain the proper record of his business to earn maximum profit.

 

 

 

 

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