Heroes, Social Engineering and Enterprise Culture
The youth stage of life is a crucial phase where individuals are susceptible to influences that can create entrepreneurial cultures. Indeed, consistent interaction between parents and children influence career choices, permitting the development of ideas and considering opportunities (Bassot, 2009; Foskett and Hemsley-Brown, 1999; Young et al., 1997). Also, informal advice from family is a strong pull toward careers for young people (Blenkinsopp et al., 2006). Nicolaou et al. (2008) assert genetic factors are important psychological compositions. Alternatively, Lindquist et al. (2012) argues both parental influence and role models are strong influences of entrepreneurial behaviour. Thus, entrepreneurs constitute those born (nature) and those bred (nurture). According to Gibb since entrepreneurs are not only born and can be made, social engineering can produce more entrepreneurs, because many people have some enterprise in them, and can successfully manage a small businesses contingent on choice and ability. The reason most people do not is they either do not want to, or have not had the opportunity (Gibb, 1987).
Entrepreneurship, Social and Economic Value
Furthermore, entrepreneurship is viewed as capable of improving the situation of minorities (e.g. Chavs) in society yet support for enterprise culture is failing (Smith and Air, 2012). It is imperative that certain myth be dispersed, that is, entrepreneurship is not synonymous with the poor-boy-made-good heroic entrepreneur because the upper class and children of the elite are also entrepreneurial (Wade et al., 2003), also entrepreneurship is not tantamount to capitalism (Casson, 2010; Gibb, 1987) but useful for social and economic value (Casson, 2010; Gibb, 1987; Smith and Air, 2012).
Social Engineering
Down (2010) asserts political initiatives and any ‘social engineering’ objectives will take lots of time and effort. Similarly, for too long the focus of education has been in parallel with building entrepreneurial youths. Also, in later life stages, corporate bureaucracy eradicates enterprise (Gibb, 1987). Bridge et al. (2009) asserts public policy incentives could encourage social enterprises. Nevertheless, entrepreneurship can be narrowed down to certain values and behaviour, and society has a big part in building these (Gibb, 1987), formative years develop our experiences and shape motivation to create entrepreneurial ideas and ambition (Gibb and Ritchie, 1981). Hence, society can assist enterprise culture in the social, political and economic context. However, Chell (1985) argues against Gibbs and Ritchie’s (1981) Social Development Model that it gives too much importance to social influences. Nevertheless, Ray (2007) asserts individuals are strongly conditioned by their backgrounds.
Policy Frameworks
Therefore, the government and legislature need to indoctrinate enterprise for society to understand and accept entrepreneurship as an active way to build the person and business economy. For instance, in the U.S free enterprise is ingrained in the constitution; in Taiwan this is found in families where 80% are self-employed due to family influences (Stevenson and Lundstrom, 2001). Basically, more thought should be given to how to create the right environment and circumstances to ‘motivate’ and stimulate individuals to become entrepreneurs. This includes ‘enabling’ policies both to help them acquire the appropriate skills and learning, and to surround them with opportunity (i.e., access to start-up resources and supports). These three elements, Motivation, Skills and Opportunity, are the basis of Entrepreneurship Policy Foundations framework and are key to the creation of a more entrepreneurial economy (Stevenson and Lundstrom 2001, p. 3).
Entrepreneurship as Heroes
David Birch asserts to encourage youth entrepreneurship, society needs to accord more respect to entrepreneurs and make them the heroes of society; an example of the United States and Sweden: I think it is deeply rooted in culture. Let me contrast the United States and Sweden to exemplify. Most of the successful role models in the United States are entrepreneurs. We celebrate them and their success. Most role models in Sweden are not (David Birch, Magnus, 2004, p. 292).
Science and Entrepreneurial Society
Additionally, entrepreneurship is an important way to reason about the world similar to the great adoption of the scientific method of the 17th century, if we can categorise entrepreneurship as a method for solving human problems, its set of skills can be generalized for social change (Saravathy and Venkataraman, 2010). Peter Drucker believed, what we need is an entrepreneurial society in which innovation and entrepreneurship are normal, steady, and continual (World Economic Forum, 2009).
Get in touch. We can help if you would you like to become an Entrepreneur.