MGT602 Entrepreneurship Assignment No 02 Fall 2020 Solution / Discussion Due Date: 27-12-2021
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MGT602_Assignment_No_02_Solution_Fall_2020
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MGT602_Assignment_No_02_Solution_Fall_2020
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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:
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:
MGT602 Assignment 2 Solution Fall 2020
Click on the below link to download the file
MGT602 Assignment No.2 2021
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.
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.
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.
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.
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
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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