US

MANUDANFODIYOUNIVERSITYSOKOTO
(
DIVI
SIONOFGENRALS TUDIES
)

GST311ENTREPRENUERSHI
PANDI NNOVATION
LECTURENOTESFOR2016/201
7S ES
SIONFIRSTSEMESTER

US
MANUDANFODIYOUNIVERSI
TYSOKOTO
(
DIVI
SIONOFGENERALSTUDI
ES)

1
 GS
T31
1:ENTREPRENEURS
HIPANDI
NNOVATI
ON

S
ECTI
ONONE:GENERALI
NTRODUCTI
ON

Gl
oba
ll
ytod
ay,g
ove
rnme
nts
,communi
ti
esa
nd ot
hers
tak
ehol
der
sar
e
i
ncr
eas
ing
lywor
ri
eda
boutune
mpl
oyme
nta
ndi
nad
equa
tes
kil
l
sofmos
tsk
il
le
d-
wor
ker
s.F
urt
her
mor
e,e
conomi
cre
ces
sionst
hatoc
curnotonl
yfr
eque
ntl
ybut
a
lsor
egul
arl
yac
ros
sth
ewor
ld,c
aus
edb
usi
nes
sest
owi
nd-
uporb
ecome
a
brup
tlyb
ank
rup
t.Th
isp
henome
noni
sfoundi
nbot
hde
vel
ope
dandd
eve
lop
ing
na
tions
,buti
tismor
ese
ver
eint
hed
eve
lop
ingna
tions
.InNi
ger
iaa
soneoft
he
d
eve
lop
ingna
tions
,se
ver
als
tep
sha
veb
eena
dop
tedt
ore
duc
eth
egr
avi
tyoft
he
p
rob
lem;onewh
ichi
senc
our
agi
nge
ntr
epr
ene
urs
hip
.

I
nad
dit
ion,i
tisac
lea
rfa
cte
ntr
epr
ene
ursa
reoneoft
hema
jors
our
ceof
e
sta
bli
shi
ng b
usi
nes
sest
hatp
rov
ide notonl
yinc
ome t
oth
em,b
uta
lso
e
mpl
oyme
ntf
ort
eami
ngune
mpl
oye
dyout
h.I
tist
her
efor
eimp
ort
antt
ofoc
us
ourt
ale
nts
,ene
rgi
esa
ndot
herr
esour
cest
owa
rde
ntr
epr
ene
urs
hip
.

Ent
rep
rene
urs
hip

Ent
rep
rene
urs
hip
 ha
sinc
rea
sing
lyb
ecomep
opul
ara
sth
ere
ces
sionk
eep
son
g
ett
ing wor
sea
nd wor
se. 
Thos
e wh
oha
vea
lre
adyd
eci
dedt
obe
come
e
ntr
epr
ene
ursh
aved
isc
ove
redt
hatt
her
eismor
etot
hea
cti
vi
tyt
hanwh
ati
s
g
ene
ral
l
yas
sume
d. 
Henc
ene
edt
oknow a
ndund
ers
tandi
tbe
come
svi
talt
o
e
conomi
cpr
osp
eri
tya
ndd
eve
lop
ment
.

Ent
rep
rene
urs
hipThe
ori
es
F
oronet
obe
comeas
ucc
ess
fulb
usi
nes
sma
nth
erei
sne
edf
ort
hatp
ers
ont
o
k
now a
lla
boutt
het
heor
ieso
fent
rep
rene
urs
hip
. Howe
ver
,ent
rep
rene
urs
hip
(
thoug
hfa
mous
)isnotaf
ull
yknownf
ie
ldt
oma
nyp
eop
le.
Henc
eit
sth
eor
iesa
re
v
erya
bst
rac
tandb
ori
ngf
ormos
tpe
opl
e.

2
1
.TheNe
o-Cl
ass
icThe
oryofEnt
repr
ene
urs
hip
Th
isi
soneoft
hef
amo
ust
heor
iesofe
ntr
epr
ene
urs
hipupt
oda
te.Ad
vanc
edb
y
Ma
rsh
ali
n1948,t
het
heor
yst
ipul
ate
sth
att
her
eisnoe
xpl
oi
tat
ionont
he
b
usi
nes
spl
atf
orm.
Th
eth
eor
yisoft
hev
iewt
hate
ver
yonewh
oisc
ond
uct
ingap
art
ic
ula
rbus
ine
ss
g
etsap
art
ic
ula
rpr
ofi
tma
rgi
nwh
ichi
sinl
i
newi
thh
isorh
erl
eve
lsofl
abour
.
He
ncet
hisme
anst
hate
ntr
epr
ene
urswh
owor
kve
ryh
arda
tth
eirv
ari
ous
b
usi
nes
seswi
l
lge
tmor
epr
ofi
tst
hant
hos
ewh
odon’
t.Th
eth
eor
yal
sov
iewst
he
l
eve
lofk
nowl
edg
eofa
nent
rep
rene
ura
sani
mpor
tantf
act
ori
nwh
eth
erornot
t
hatp
ers
onwi
l
lma
keal
otofp
rof
it
s.

2.
Innov
ati
veThe
oryofEnt
repr
ene
urs
hip
Th
einnov
ati
vet
heor
yisoneoft
hemos
tfa
moust
heor
iesofe
ntr
epr
ene
urs
hip
us
eda
lla
roundt
hewor
ld.Th
eth
eor
ywa
sad
vanc
edb
yonef
amouss
chol
ar,
S
chump
ete
r,i
n1991
.Sc
hump
ete
rana
lyz
edt
het
heor
ypr
opos
edb
yMa
rsh
all
,and
h
econc
lud
edt
hatt
het
heor
ywa
swr
ong
.
S
chump
ete
rbe
li
eve
sth
atc
rea
tiv
it
yori
nno
vat
ioni
sth
eke
yfa
ctori
nany
e
ntr
epr
ene
ur’
sfi
el
dofs
pec
ial
i
zat
ion.Hea
rgue
dth
atk
nowl
edg
eca
nonl
ygoa
l
ongwa
yinh
elp
inga
nent
rep
rene
urt
obe
comes
ucc
ess
ful
.

3
.Al
ertThe
oryofEnt
repr
ene
urs
hip
Th
isi
spr
oba
blyt
hemos
tcont
rov
ers
ialofa
llt
het
heor
iesofe
ntr
epr
ene
urs
hip
.
Th
eth
eor
ywa
sfi
rstf
ound
edb
yKi
rzne
r(i
n1997
)wh
owa
nte
dtob
ringt
oge
the
r
t
heot
hert
heor
iesofe
ntr
epr
ene
urs
hipa
dva
nce
dbyMa
rsh
alla
ndS
chump
ete
r.
Buth
ere
ali
zedt
hatt
hema
rke
tit
sel
fpl
aye
dth
emos
timp
ort
antr
olei
nwh
eth
er
a
nent
rep
rene
urwoul
dbes
ucc
ess
ful
ornot
.
He
nceh
eca
meupwi
thh
isownv
iewofe
ntr
epr
ene
urs
hipwh
ichh
eca
ll
ed‘
al
ert
’.
Th
eth
eor
yst
ate
sth
atund
ers
tand
ingt
hema
rke
tist
hek
eyt
obe
ingas
ucc
ess
ful

3
e
ntr
epr
ene
ur.
S
ECTI
ONTWO:NI
GERI
ANENTREPRENUERALENVI
RONMENT
Bus
ine
ssop
era
tesi
nane
nvi
ronme
nt.Asas
oci
ali
nst
it
uti
on,b
usi
nes
sha
san
i
ntr
ic
atea
ndi
mpor
tantr
ela
tions
hipwi
tht
hee
nvi
ronme
ntwi
thwh
ichi
tint
era
cts
.
F
ort
heb
usi
nes
s,t
hema
inp
urp
oseofs
uchi
nte
rac
ti
onsi
stoma
ximi
zep
rof
it
a
ndwe
ll
-b
eingofaf
ir
m’sc
ons
ti
tue
nts
.Th
eme
cha
nis
m ofi
nte
rac
ti
oni
sth
e
i
nte
rfa
ceb
etwe
ent
heb
usi
nes
sand i
tse
nvi
ronme
nt;t
heb
usi
nes
sand
e
nvi
ronme
ntg
ainf
rom e
ach ot
her
.Th
ist
ypi
fi
esi
nte
rde
pend
enc
ebe
twe
en
b
usi
nes
sande
nvi
ronme
nt.
Ex
ter
nal&I
nte
rna
lBus
ine
ssEnv
ironme
nt
Ex
ter
nalBus
ine
ssEnv
ironme
nt
Th
eel
eme
ntsoft
heb
usi
nes
sex
ter
nale
nvi
ronme
ntc
ons
ti
tut
eth
eex
ter
nal
e
nvi
ronme
nta
lfa
ctor
s,c
apt
ure
dwi
tht
hea
crony
mPES
TLEwh
ichme
ans
:
PPol
i
tic
alFa
ctor
s;
EEc
onomi
cFa
ctor
s;
SS
oci
alFa
ctor
s;
TTe
chnol
ogi
cal
Fac
tor
s;
LLe
galFa
ctor
s;a
nd
EEc
olog
ica
lFa
ctor
s.

Pol
i
tic
alFa
ctor
s:Th
esee
nta
ilt
hee
xte
nta
ndp
roc
essofg
ove
rnme
ntd
ire
ctor
i
ndi
rec
tint
erv
ent
iona
ndi
nfl
uenc
eonb
usi
nes
sesi
nane
conomy
.Sp
eci
fi
cal
l
y,
p
oli
ti
calf
act
orsi
ncl
udes
ucha
rea
sast
axp
oli
cy,
lab
ourl
aw,
env
ironme
nta
lla
w,
t
rad
ere
str
ic
ti
ons
,ta
rif
fs,
inc
ent
iv
es,
oth
ere
ncour
age
ment
sandp
oli
ti
cals
tab
il
it
y.
Pol
i
ti
calf
act
orsma
yal
soi
ncl
udeg
ood
sands
erv
ice
swh
icht
heg
ove
rnme
nt
wa
ntst
opr
ovi
deorb
epr
ovi
ded(
mer
itg
ood
s)a
ndt
hos
eth
att
heg
ove
rnme
nt
d
oesnot
wantt
obep
rov
ide
d(d
eme
ritg
ood
sorme
ritb
ad)
.

4
Ec
onomi
cFa
ctor
s:Th
esei
ncl
udee
conomi
cgr
owt
h,i
nte
res
tra
tes
,ex
cha
nge
r
ate
sand t
hei
nfl
ati
on r
ate
.Th
esef
act
orsh
ave ma
jori
mpa
ctson h
ow
b
usi
nes
sesop
era
tea
ndma
ked
eci
si
ons
.Fo
rex
amp
le,i
nte
res
tra
tesa
ffe
cta
f
ir
m'sc
ostofc
api
tala
ndt
her
efor
eth
eex
tentt
owh
ichab
usi
nes
sgr
owsa
nd
e
xpa
nds
.Ex
cha
nger
ate
saf
fec
tth
ecos
tsofe
xpor
ti
ngg
ood
sandt
hes
upp
lya
nd
p
ric
eofi
mpor
tedg
ood
sina
nec
onomy
.
S
oci
alFa
ctor
s:Th
esea
ret
hec
ult
ura
las
pec
tsa
ndi
ncl
udeh
eal
thc
ons
cious
nes
s,
p
opul
ati
ong
rowt
hra
te,
aged
ist
ri
but
ion,
car
eera
tti
tud
esa
nde
mph
asi
sons
afe
ty
ne
ts.Tr
end
sins
oci
alf
act
orsa
ffe
ctt
hed
ema
ndf
orac
omp
any
'sp
rod
uct
sand
h
owt
hatc
omp
anyop
era
tes
.
Te
chnol
ogi
calFa
ctor
s:Th
isc
omp
one
ntofe
xte
rna
lenv
ironme
nti
ncl
ude
s
t
ech
nol
ogi
cala
spe
ctss
ucha
s Re
sea
rcha
nd De
vel
opme
nt(
R&D)a
cti
vi
ty
,
a
utoma
tion,t
ech
nol
ogyi
nce
nti
vesa
ndt
her
ateoft
ech
nol
ogi
calc
hang
e.Th
ey
c
and
ete
rmi
ne b
arr
ier
stoe
ntr
y,mi
ni
mum e
ffi
ci
entp
rod
uct
ion l
eve
land
i
nfl
uenc
eout
sour
ci
ngd
eci
si
ons
.Te
chnol
ogi
cals
hif
tsc
ana
ffe
ctc
ost
s,qua
li
ty
,
a
nds
ti
mul
atef
urt
heri
nve
nti
on,
innov
ati
ona
ndc
omp
eti
ti
on.
Le
galFa
ctor
s:I
ncl
ude
dint
hisc
omp
one
nta
red
isc
ri
mina
tionl
aw,
cons
ume
rla
w,
a
nti
tr
ustl
aw,e
mpl
oyme
ntl
aw,a
ndh
eal
tha
nds
afe
tyl
aw.Th
esef
act
orsc
an
a
ffe
cth
owac
omp
anyop
era
tes
,it
scos
ts,
andt
hed
ema
ndf
ori
tsp
rod
uct
s.
Ec
olog
ica
lFa
ctor
s:Th
esei
ncl
udee
nvi
ronme
nta
las
pec
tss
ucha
swe
ath
er,
c
li
mat
e,a
ndc
li
mat
ech
ang
e,wh
ichma
yaf
fec
tind
ust
ri
esl
i
ket
our
ism,f
armi
ng,
a
ndi
nsur
anc
e.Gr
owi
nga
war
ene
ssoft
hep
ote
nti
ali
mpa
ctsofc
li
mat
ech
ang
eis
a
ffe
cti
ngh
owc
omp
ani
esop
era
tea
ndt
hep
rod
uct
sth
eyof
fer
,bot
hcr
eat
ingne
w
ma
rke
tsa
ndd
imi
ni
shi
ngord
est
roy
inge
xis
ti
ngone
s.

I
nte
rna
lBus
ine
ssEnv
ironme
nt
Th
eint
erna
lenv
ironme
ntofa b
usi
nes
scons
ist
sofa s
etofc
ond
iti
ons
,
i
nfl
uenc
esa
nde
leme
ntswi
thi
nth
ebus
ine
sswh
icha
red
ire
ctl
ycont
rol
l
eda
nd

5
i
nfl
uenc
edb
yma
nag
eme
ntoft
heb
usi
nes
stos
hap
eth
eli
fea
ndc
ont
inue
d
e
xis
tenc
eoft
heb
usi
nes
sint
hed
ire
cti
onofa
tta
inme
ntofor
gani
zat
iona
lgoa
ls
a
ndob
jec
ti
ves
.
Af
ir
m’si
nte
rna
lana
lys
isi
nvol
vee
xami
nat
iona
nda
ppr
ais
alofs
uchf
act
orsa
s
i
ts ma
nag
eme
nt,ma
rke
ti
ng,f
ina
nce
,op
era
tiona
l/p
rod
uct
ion a
nd h
uma
n
r
esour
ce.
Thef
act
orsi
ncl
ude
:
a
.Ex
per
ienc
eda
nds
kil
fulwor
kfor
ce:Th
ise
nha
nce
sra
tiona
lde
cis
ionsa
nd
f
ulf
il
mentofp
roj
ectr
equi
reme
nt(
Abd
ula
ndAb
dul
,1999)
.
b
.Fe
asi
bl
eOb
jec
ti
ves
:Th
ebus
ine
sss
houl
dha
vea
chi
eva
bles
trongs
hor
tand
l
ongt
erm ob
jec
ti
ves
,ands
tra
teg
icma
nag
ersc
oul
dana
lyz
eth
epe
rfor
manc
eof
a
nyp
roj
ect
sund
ert
ake
nand a
tth
esa
met
imep
lanf
orp
ote
nti
alf
utur
e
d
eve
lop
mentp
roj
ect
s.
c
.St
rongFi
nanc
ialS
our
ces
:Th
esef
aci
l
ita
tef
urt
here
xpa
nsi
onoft
heb
usi
nes
s,
a
ll
owt
heb
usi
nes
stoi
nve
sti
nmor
emod
erna
nds
oph
ist
ic
ate
dpr
oduc
tconc
ept
s
t
osa
tis
fyc
ust
ome
rs’ne
eds
,sa
tis
fyt
hef
ir
m’sc
ons
ti
tue
ntsa
nda
bid
ebyt
he
g
ove
rnme
ntp
oli
cy.
d
.Ef
fec
ti
vea
ndEf
fi
ci
entMa
nag
eme
nta
ndAd
mini
st
rat
ionS
yst
em:Th
ise
nsur
es
s
moot
hop
era
tion.
e
.GoodI
mag
eandRe
put
ati
on:Th
isa
ttr
act
spot
ent
iali
nve
stor
sandc
onf
ers
c
omp
eti
ti
vea
ndma
rke
tpos
it
iona
dva
nta
gesont
hef
ir
m.
f
.Cur
renc
yofTe
chni
que
s,Te
chnol
ogya
ndPr
oce
sse
s:Th
eus
eofc
urr
ent
t
ech
nique
,te
chnol
ogya
ndp
roc
ess
esc
onf
ersc
omp
eti
ti
vea
dva
nta
geofune
qua
l
me
asur
eont
hef
ir
mini
tsp
roc
ure
mentp
roj
ect
s,d
esi
gn,c
onc
epta
ndqua
li
tyof
i
nput
sandp
rod
uct
s.
g
.Ti
mel
yInf
orma
tion:Th
ise
nab
lesaf
ir
mtoe
xpl
oreac
omp
eti
ti
veop
por
tuni
ty
r
ela
tiv
etoi
tsc
omp
eti
tor
sint
hei
ndus
try
.
h.Und
erCa
pac
it
yUt
il
iz
ati
on:Th
isr
esul
tst
osub
opt
ima
lal
l
oca
tionoff
ir
m’s
s
car
cer
esour
ces
,comp
eti
ti
ved
isa
dva
nta
gea
nd una
tta
ine
d or
gani
zat
iona
l

6
ob
jec
ti
ves
.

S
ECTI
ONTHREE:CREATI
VITYANDI
NTELLECTUALRI
GHT
I
nte
ll
ect
ualp
rop
ert
yre
fer
stoCr
eat
ionsoft
hemi
nd:i
nve
nti
ons
;Li
te
rar
yand
a
rti
st
icwor
ks;a
ndS
ymb
ols
,na
mesa
ndi
mag
esus
ed.I
ncomme
rce
,Int
ell
ect
ual
p
rop
ert
yisd
ivi
dedi
ntot
woc
ate
gor
ies
:
I
ndus
tri
alPr
ope
rtyi
ncl
ude
s Pa
tent
sfori
nve
nti
ons
,tr
ade
mar
ks,i
ndus
tri
al
d
esi
gnsa
ndg
eog
rap
hic
ali
ndi
cat
ions
.

Cop
yri
ghtc
ove
rsl
i
ter
arywor
ks(
suc
hasnov
els
,poe
msa
ndp
lay
s),
fil
ms,
mus
ic,
a
rti
st
icwor
ks(
e.g
.,d
rawi
ngs
,pa
int
ing
s,Ph
otog
rap
hsa
nd s
cul
ptur
es)a
nd
a
rch
ite
ctur
ald
esi
gn.Ri
ght
sre
lat
edt
ocop
yri
ghti
ncl
udet
hos
eofp
erf
ormi
ng
a
rti
st
sint
hei
rpe
rfor
manc
es,Pr
oduc
ersofp
honog
ramsi
nth
eirr
ecor
ding
s,a
nd
Br
oad
cas
ter
sint
hei
rra
dioa
ndt
ele
vis
ionp
rog
rams
.Th
ebe
nef
it
sof
prot
ect
ing
c
opy
ri
ghta
ndr
ela
tedr
igh
tsa
re:

Cop
yri
ghta
ndr
ela
tedr
igh
tsp
rot
ect
ioni
sane
sse
nti
alc
omp
one
nti
nfos
ter
ing
h
uma
ncr
eat
iv
it
yandi
nnov
ati
on.Gi
vi
nga
uth
ors
,ar
ti
st
sandc
rea
tor
sinc
ent
iv
es
i
nth
efor
m ofr
ecog
nit
iona
ndf
aire
conomi
cre
war
dinc
rea
sest
hei
rac
ti
vi
tya
nd
out
puta
ndc
ana
lsoe
nha
ncet
her
esul
ts
.Bye
nsur
ingt
hee
xis
tenc
eand
e
nfor
cea
bil
i
tyofr
igh
ts,i
ndi
vi
dua
lsa
ndc
omp
ani
esc
anmor
eea
sil
yinv
esti
nth
e
c
rea
tion,
dev
elop
menta
ndg
lob
ald
iss
emi
nat
ionoft
hei
rwor
ks.
Th
is,i
ntur
n,h
elp
stoi
ncr
eas
eac
ces
stoa
nde
nha
ncet
hee
njoy
mentofc
ult
ure
,
k
nowl
edg
eande
nte
rta
inme
ntt
hewor
ldov
era
nda
lsos
ti
mul
ate
sec
onomi
cand
s
oci
ald
eve
lop
ment
.

7
Cop
yri
ghtLa
wsi
nNi
ger
ia
Th
eNi
ger
ianCop
yri
ghtAc
tha
sma
des
omep
rov
isi
onst
hatc
allf
ort
hea
tte
nti
on
ofl
ega
lpr
act
it
ione
rsa
ndourc
our
ts.Th
esep
rov
isi
onsi
nth
esa
idAc
twh
ichwi
l
l
b
eel
abor
ate
dup
oni
npa
rtsoft
hisp
ape
rno
tonl
ycr
eat
edc
ri
mina
lli
abi
l
ityf
or
c
ert
aini
nfr
ing
eme
ntso
fth
epr
ovi
si
onsoft
heAc
tbuta
lsoc
astt
heb
urd
enof
p
roofofi
nnoc
enc
eont
heof
fend
er.Th
ist
ypeofl
egi
sl
ati
ons
houl
dat
tr
actt
he
a
tte
nti
onofp
rac
ti
ti
one
rsf
ort
hes
imp
ler
eas
ont
hati
tisunc
onv
ent
iona
lin
c
ri
mina
lpr
ose
cut
ion t
opl
acet
heb
urd
en ofp
roofofi
nnoc
enc
e on t
he
a
ccus
ed.
Theuni
ver
salp
rac
ti
cei
stop
res
umea
nac
cus
ednotg
uil
tyunt
ilt
he
Cont
rar
yisp
rov
ed.Af
tert
aki
ngad
eepl
ooka
tth
ePr
ovi
si
onsoft
heAc
t,we
p
rof
fers
ugg
est
ionsa
stot
hes
ect
ionst
her
eoft
hatne
edt
obea
mend
edt
obr
ing
t
hemi
nli
newi
tht
heCons
ti
tut
iona
lpr
ovi
si
ond
eal
i
ngwi
thp
res
ump
tionof
i
nnoc
enc
einc
ri
mina
lPr
ose
cut
ion.Th
eimp
ort
anc
eandp
re-
emi
nenc
eac
cor
ded
t
ocop
yri
ghti
nth
ePr
ote
cti
onofi
nte
ll
ect
ualp
rop
ert
yal
lov
ert
hewor
ldh
asma
de
i
timp
era
tiv
eforust
oha
veal
ooka
tourownl
oca
lle
gis
lat
iont
oena
bleuss
ee
wh
eth
erwea
remov
ingwi
tht
her
eal
i
tie
soft
hemod
ernc
omme
rci
alwor
ld.I
tis
a
nol
dsa
yingt
hat“
noma
nisa
nis
land
”.I
nth
iss
eas
onof“
Vis
ion201
0”,

S
ECTI
ONFOUR:TECHNOLOGI
CALENTREPRENUERS
HIP

A.
Int
erf
ace
sbe
twe
enTe
chnol
ogi
cal
Dev
elopme
nta
nd Ent
repr
ene
urs
hip

Th
ewor
dte
chnol
ogyi
snotane
wone
.Inf
actt
her
ootoft
hewor
dme
anst
osh
ift
ort
och
ang
e,a
ndwa
sus
edor
igi
nal
l
yinr
ela
tiont
och
ang
ingna
tur
e.Th
eid
eaof
ma
nch
ang
ingna
tur
era
the
rth
anb
eingc
ont
rol
l
edb
yitwa
ses
sent
ialt
oth
e
e
mer
genc
eoft
hea
uto
nomouss
elfa
nde
vent
ual
l
ytot
hev
erynot
ionoft
he
e
ntr
epr
ene
ur.
Thus
,te
chnol
ogya
nde
ntr
epr
ene
urs
hipa
rec
los
elyr
ela
ted
.
Tod
aywet
hinkoft
ech
nol
ogya
sbe
inga
boute
lec
troni
cs(
comp
ute
rs,
sof
t-
war
es,
we
bap
pli
cat
ions
,et
c.
)buts
mar
tent
rep
rene
ursv
iewt
ech
nol
ogyi
nwh
ate
ver

8
f
orma
same
anst
oane
nda
ndnota
nendofi
ts
elf
.
Te
chnol
ogyi
sse
ena
sana
cce
ler
ator
.Th
isme
anst
ech
nol
ogyc
ana
cce
ler
ateb
oth
g
ooda
ndb
adi
dea
sand
,itc
ana
cce
ler
atet
hes
eid
east
owa
rdss
ucc
essorf
ail
ure
.
Th
inkoft
ech
nol
ogya
ssomes
ortofwi
dge
tth
ats
it
sinb
etwe
eni
dea
sandt
he
f
utur
e.Wh
eth
ere
ntr
epr
ene
ursp
utg
oodi
dea
sorb
adi
dea
sint
oth
ete
chnol
ogi
cal
a
cce
ler
atorwi
l
lde
ter
minewh
eth
erornoty
ous
pee
dtowa
rdss
ucc
essorf
ail
ure
.
B.
Tec
hnol
ogi
cal
Dev
elopme
nta
ndEnt
repr
ene
uri
alOppor
tuni
ti
es
Ent
rep
rene
urs
hipl
i
ter
atur
eac
knowl
edg
est
hel
ogi
cofe
conomi
esop
era
tingi
na
c
ons
tants
tat
eofd
ise
qui
l
ibr
ium.Te
chnol
ogi
cal
,pol
i
tic
al,s
oci
al
,re
gul
ator
y,a
nd
ot
hert
ype
sofc
hang
eof
ferac
ont
inuouss
upp
lyofne
winf
orma
tiona
bout
d
iff
ere
ntwa
yst
ous
ere
sour
cest
oenh
anc
ewe
alt
h.Byma
kingi
tpos
sib
let
o
t
rans
for
mre
sour
cesi
ntoamor
eva
lua
blef
orm,t
hene
winf
orma
tiona
lte
rst
he
v
alueofr
esour
cesa
nd,t
her
efor
e,t
her
esour
ces
'pr
ope
requi
l
ibr
ium p
ric
e.
Be
caus
einf
orma
tioni
simp
erf
ect
lyd
ist
ri
but
ed,a
lle
conomi
cac
tor
sdonot
r
ece
ivene
winf
orma
tiona
tth
esa
met
ime
.Cons
eque
ntl
y,s
omep
eop
leob
tai
n
i
nfor
mat
ionb
efor
eot
her
sab
outr
esour
cesl
yi
ngf
all
ow,ne
wdi
scov
eri
esb
eing
ma
de,
orne
wma
rke
tso
peni
ngup
.
Th
einf
orma
tiona
lsour
cesofop
por
tuni
tyma
ybee
asi
ert
ose
eint
hec
aseofne
w
t
ech
nol
ogy
,butt
heyne
ednotb
ere
str
ic
tedt
ote
chnol
ogi
cald
eve
lop
ment
s.F
or
e
xamp
le,t
hep
rod
uct
ionoft
hemov
ieTi
tani
cge
ner
ate
dne
winf
orma
tiona
bout
wh
owa
sad
esi
rab
let
eeni
dol
.Ane
ntr
epr
ene
urc
oul
dre
spondt
oth
isne
w
i
nfor
mat
ionb
yac
ti
ngont
hec
onj
ect
uret
hatp
ost
ersofLe
ona
rdoDe
Cap
rio
woul
dse
llf
org
rea
tert
hant
hei
rcos
tofp
rod
uct
ion.Be
caus
eent
rep
rene
uri
al
op
por
tuni
ti
esd
epe
ndoni
rr
egul
ari
ti
esofi
nfor
mat
iona
ndb
eli
ef
s,e
vent
ual
l
y,
e
ntr
epr
ene
uri
alop
por
tuni
ti
esb
ecome c
osti
nef
fi
ci
entt
opur
sue
.Fi
rst
,th
e
op
por
tuni
tyt
oea
rne
ntr
epr
ene
uri
alp
rof
itwi
l
lpr
ovi
dea
ninc
ent
iv
etoma
ny
e
conomi
cac
tor
s.
C.
Bus
ine
ssa
ndt
heTe
chnol
ogi
cal
Env
ironme
nt

9
“
Hig
hte
chnol
ogyh
asb
ecomel
i
keaf
orc
eofna
tur
e.I
ttr
ans
for
mst
hee
conomy
,
s
chool
s,c
ons
ume
rha
bit
s,a
ndt
hev
eryc
har
act
erofmod
ernl
i
fe.I
nve
stor
spour
mone
yint
oit
;pa
rent
sur
get
hei
rch
il
dre
ntos
tud
yit
;communi
ti
esv
iet
oat
tr
act
i
tsf
act
ori
es;d
ecor
ator
sad
apti
tasas
tyl
e;p
oli
ti
ci
ansp
ushi
tasap
ana
cea
”
(
Sci
enc
eDi
gi
tal
Mag
azi
ne)
.
Te
chnol
ogyc
anb
ecl
ass
if
ie
dins
eve
ral
way
s.F
ore
xamp
le,
blue
pri
nts
,ma
chi
ner
y,
e
qui
pme
nta
ndot
herc
api
tal
good
sar
esome
ti
mesr
efe
rre
dtoa
sha
rdt
ech
nol
ogy
wh
il
esof
tte
chnol
ogyi
ncl
ude
sma
nag
eme
ntk
now-
how,f
ina
nce
,ma
rke
ti
nga
nd
a
dmi
ni
st
rat
iv
ete
chni
que
s.Wh
enar
ela
tiv
elyp
rimi
ti
vet
ech
nol
ogyi
sus
edi
nth
e
p
rod
uct
ionp
roc
ess
,th
ete
chnol
ogyi
sus
ual
l
yre
fer
redt
oasl
abour
-i
nte
nsi
ve.A
h
igh
lya
dva
nce
dte
chnol
ogyont
heot
herh
and
,isg
ene
ral
l
yte
rme
dca
pit
al-
i
nte
nsi
ve.
Ch
ang
esi
nth
ete
chnol
ogi
cale
nvi
ronme
nth
aveh
ads
omeoft
hemos
tdr
ama
tic
e
ffe
ctsonb
usi
nes
s.A c
omp
anyma
ybec
ommi
tt
edt
oap
art
ic
ula
rty
peof
t
ech
nol
ogy
,andma
yha
vema
dema
jori
nve
stme
ntsi
nequi
pme
nta
ndt
rai
ni
ng
onl
ytos
eeamor
einno
vat
iv
eandc
oste
ffe
cti
vet
ech
nol
ogye
mer
ge.
Cons
ide
rth
e
c
aseofama
nag
ingd
ire
ctorofamul
ti
nat
iona
lor
gani
zat
ionma
nuf
act
uri
ngh
eav
y
ma
chi
ner
yonc
esa
idt
hatt
heh
ard
estp
arto
fhi
sjobh
adnot
hingt
odowi
th
uni
ons
,pa
yorp
rod
uct
sbutonwh
eth
erornott
osp
endmor
emone
yont
he
l
ate
stt
ech
nol
ogi
cal
l
yimp
rov
ede
qui
pme
nt.Cons
ide
rth
econt
rac
ept
iv
epi
l
lfor
i
nst
anc
ele
dtos
mal
l
erf
ami
l
ies
,mor
ewor
kingwi
ves
,andl
arg
erd
isc
ret
iona
ry
i
ncome
sre
sul
ti
ngi
nhi
ghe
rex
pend
itur
esonv
aca
tiona
ndt
rav
ele
tc.

S
ECTI
ONFI
VE:MANAGEMENTOFI
NNOVATI
ON
A.
Innov
ati
on
Th
ewor
d“i
nnov
ati
on”d
eri
vesf
rom t
heLa
tinwor
d“i
nnov
are
”me
ani
ng“
to
r
ene
worc
hang
e”.Th
ere
for
e,i
tcoul
dbes
eena
sth
ede
vel
opme
ntofne
wva
lue
s
t
hroug
hsol
uti
onst
hatme
etne
wre
qui
reme
nts
,ina
rti
cul
ate ne
edsofol
d

1
0
c
ust
ome
rsa
ndma
rke
tne
edsi
nva
luea
ddi
ngne
wwa
ys.I
not
herwor
ds,
iti
sth
e
d
eve
lop
mentofne
wcus
tome
rs’
val
uet
hroug
hsol
uti
onst
hatme
etne
wne
eds
,or
a
ddi
ngv
aluet
ool
dcus
tome
rsb
ypr
ovi
di
ngne
w wa
ysofma
ximi
zi
ngt
hei
r
c
urr
entl
eve
lofp
rod
uct
iv
it
y.Putd
iff
ere
ntl
y,i
nnov
ati
onc
anb
ese
ena
sap
roc
ess
oft
rans
lat
inga
nid
eaori
nve
nti
oni
ntoag
oodors
erv
icet
hatc
rea
tesv
alueorf
or
wh
ichc
ust
ome
rswi
l
lpa
y.Tob
eca
ll
eda
ninnov
ati
on,
ani
deamus
tber
epl
i
cab
le
a
tane
conomi
calc
osta
ndmus
tsa
tis
fyas
pec
if
icne
ed.I
nnov
ati
oni
nvol
ves
d
eli
ber
atea
ppl
i
cat
ionofi
nfor
mal
,i
mag
ina
tiona
ndi
ni
ti
ati
vei
nde
riv
ingg
rea
teror
d
iff
ere
ntv
alue
sforr
esour
ces
,andi
ncl
ude
sal
lpr
oce
ssg
ene
rat
eda
ndc
onv
ert
ed
i
ntous
eful
prod
uct
s.
I
nnov
ati
ond
iff
ersf
rom i
nve
nti
oni
nth
ati
nnov
ati
onr
efe
rst
oth
eus
eofa
b
ett
era
nd,a
sar
esul
t,nov
eli
deaorme
thod
,wh
ere
asi
nve
nti
onr
efe
rsmor
e
d
ire
ctl
ytot
hec
rea
tion oft
hei
deai
ts
elf
.Innov
ati
on e
qua
ll
ydi
ff
ersf
rom
i
mpr
ove
menti
nth
ati
nnov
ati
on r
efe
rst
oth
enot
ion ofd
oings
ome
thi
ng
d
iff
ere
ntl
yra
the
rth
and
oingt
hes
amet
hingb
ett
er.
B.
Nat
ureofI
nnov
ati
on
I
nnov
ati
oni
snot
hingmor
eth
anat
ool
tha
tena
ble
scomp
ani
est
oac
hie
veuni
que
s
tra
teg
icg
oal
scons
ist
sfi
vena
tur
esofa
ninnov
ati
ont
hata
ffe
cth
owqui
ckl
yand
t
owh
ate
xte
nti
twi
l
lse
ll
:
• Re
lat
iv
elyAd
vant
age
:In or
dert
osuc
cee
d,a
ninnov
ati
on h
ast
obe
p
erc
eiv
eda
sof
fer
inga
dva
nta
gesr
ela
tiv
etoe
xis
ti
ngc
omp
ara
blep
rod
uct
sor
s
erv
ice
s.
• Co
mpa
tib
il
it
y:Ani
nnov
ati
ont
hati
scomp
ati
bl
ewi
tht
hee
xpe
rie
nce
,va
lue
s
a
ndne
edsofi
tsp
ote
nti
alb
uye
rswi
l
lbea
dop
tedmor
era
pid
lyt
hanonet
hati
sn’
t
c
omp
ati
bl
e.
• Co
mpl
exi
ty
:Ifa
ninnov
ati
oni
spe
rce
ive
dasd
iff
ic
ultt
ous
eitwi
l
ldi
ff
use
mor
esl
owl
yth
anonet
hati
sea
syt
ound
ers
tand
.
• Ob
ser
vab
il
it
y:Th
eea
sie
riti
sforp
eop
let
ose
eani
nnov
ati
onb
eingus
ed,

1
1
t
hemor
eli
kel
yth
eya
reb
uyi
ngi
tth
ems
elv
es.I
nnov
ati
onst
hata
reh
ard
ert
ose
e
t
endt
odi
ff
usemor
esl
owl
y.

C.
Type
sofI
nnov
ati
on
Th
erea
ref
ourt
ype
sofi
nnov
ati
ons
,wh
ichi
ncl
ude
i
.pr
oduc
tinnov
ati
oni
sth
eac
tofb
ring
ings
ome
thi
ngne
wtot
hema
rke
tpl
ace
t
hati
mpr
ove
sth
era
ngea
ndqua
li
tyofp
rod
uct
sof
fer
ed.
Inot
herwor
ds,
iti
sone
t
hati
ntr
oduc
esori
mpr
ove
sap
rod
uctors
erv
ice
-ac
hang
einwh
ati
sof
fer
edt
o
t
hee
ndus
ers
i
i
.Pr
oce
ssI
nnov
ati
on:Th
isf
ocus
esonp
roc
esst
hroug
hwh
ichp
rod
uct
sar
e
c
rea
tedord
eli
ver
ed.
Bec
aus
esoma
nyoft
hep
rod
uct
sus
edi
nre
li
efs
ett
ing
sar
e
i
ni
ti
al
lyd
eve
lop
edf
ornon-
rel
i
efc
ont
ext
,ana
tur
alf
ocusf
orh
uma
nit
ari
an.Th
is
i
nnov
ati
onc
ons
ide
rsh
owa
nex
ist
ingp
rod
uctmi
ghtb
eus
edi
nre
sour
ce–p
oor
orr
api
dl
ych
ang
ings
ett
ing
s.
i
i
i.Pos
it
ionI
nnov
ati
on:Th
isf
ocusofi
nnov
ati
oni
nvol
vesr
e-p
osi
ti
oni
ngt
he
p
erc
ept
ionofa
nes
tab
li
she
dpr
oduc
torp
roc
essi
nas
pec
if
icc
ont
ext
.Pos
it
ion
b
ase
dinnov
ati
onsr
efe
rtoc
hang
esi
nhow as
pec
if
icp
rod
uctorp
roc
essi
s
p
erc
eiv
eds
ymb
oli
cal
l
yandh
owt
heya
reus
ed.
i
v.Pa
rad
igmI
nnov
ati
on:Th
isd
efi
nesorr
ede
fi
nest
hed
omi
nantp
ara
dig
msofa
n
or
gani
zat
ionsore
nti
res
ect
or.Pa
rad
igm-
bas
edi
nnov
ati
onsr
ela
tet
oth
eme
nta
l
mod
elswh
ichs
hap
ewh
ata
nor
gani
zat
ionorb
usi
nes
sisa
bout
.

D.
Fina
nci
ngI
nnov
ati
ona
ndNe
wVe
ntur
es
Al
lbus
ine
ssne
edsmo
neywh
eth
ers
mal
lorl
arg
e.I
rr
esp
ect
iv
eofh
owb
rig
hta
b
usi
nes
sop
por
tuni
tymi
ghtb
e,wi
thoutg
oodmone
ytome
ett
hec
hal
l
eng
esof
e
xpl
oi
ti
ngt
heop
por
tuni
ty
,th
eop
por
tuni
tywi
l
lbeawa
ste
done
.Ev
enwh
en
mone
yisa
vai
l
abl
eth
erei
sth
ene
edt
oma
nag
eth
emone
yef
fec
ti
vel
ysoa
sto
s
ati
sf
yth
est
ake
hol
der
s.

1
2
S
ECTI
ONS
IX:FAMI
LYBUS
INES
S&S
UCCES
SIONPLANNI
NG
De
fini
ti
onoff
ami
l
ybus
ine
ss
Pr
atta
ndDa
vis(
1986
)de
fi
nef
ami
l
ybus
ine
ssa
sonei
nwh
icht
woormor
e
e
xte
nde
dfa
mil
yinf
lue
ncet
hed
ire
cti
onoft
heb
usi
nes
sth
roug
hth
eex
erc
iseof
k
ins
hipt
ie
s,ma
nag
eme
ntr
ole
sorowne
rsh
ipr
igh
ts.Ga
ll
oandS
vee
n(1
991
)
d
efi
nef
ami
l
ybus
ine
ssa
sab
usi
nes
swh
ereas
ing
lef
ami
l
yha
sma
jor
it
yofs
toc
k
a
ndh
ast
ota
lcont
rol
.Hol
l
anda
ndOl
i
ver(
1992)s
eesi
tasa
nyb
usi
nes
sinwh
ich
d
eci
si
ons r
ega
rdi
ng i
ts owne
rsh
ip orma
nag
eme
nta
rei
nfl
uenc
edb
ya
r
ela
tio
nsh
ipt
oaf
ami
l
yorf
ami
l
ies
.We
lsc
h(1
993
)de
fi
nei
tasonei
nwh
ich
owne
rsh
ipi
sconc
ent
rat
ed,
andowne
rsorr
ela
tiv
esofowne
rsa
rei
nvol
vedi
nth
e
ma
nag
eme
ntp
roc
ess
.

Wha
tma
kesf
ami
l
ybus
ine
ssuni
que
?
I
tisg
ene
ral
l
yac
cep
tedt
hataf
ami
l
ybus
ine
ssi
sonet
hati
ncl
ude
stwoormor
e
me
mbe
rsofaf
ami
l
yth
ath
avef
ina
nci
alc
ont
roloft
hec
omp
any
.Iti
sea
syt
ose
e
onek
eyf
act
or,t
hati
sth
efa
mil
yha
sfi
nanc
ialc
ont
roloft
hec
omp
any
,wh
ich
g
ive
sitad
iff
ere
ntp
ers
pec
ti
vet
hanaf
ami
l
ywi
thmul
ti
pl
eme
mbe
rswor
kingi
na
c
omp
anyowne
dbys
ome
onee
lse
.

Tob
ett
erund
ers
tandf
ami
l
ybus
ine
ssa
ndi
tsuni
quec
har
act
eri
nth
ebus
ine
ss
wor
ld,i
tisi
mpor
tantt
ore
cog
niz
eth
eth
reed
iff
ere
nt,b
uti
nte
rre
lat
edd
oma
ins
:
t
he“
fami
l
y”,
the“
bus
ine
ss”
,andt
he“
owne
rsh
ip”d
oma
ins
.

Fa
mil
yDoma
in
F
ami
l
yisag
roupoft
woormor
epe
rsonsr
ela
tedb
ybl
ooda
nd/
orl
ega
l
r
ela
tio
nsh
ip(
i.
e.
,ma
rri
age
).An e
mot
iona
lbond us
ual
l
yac
comp
ani
est
he
r
ela
tio
nsh
ip.F
ami
l
yme
mbe
rst
endt
oap
proa
chr
ela
tions
hip
swi
thonea
not
her

1
3
d
iff
ere
ntl
yth
ant
heymi
ghtwi
thab
usi
nes
sco
ll
eag
uewh
oisnotf
romt
hes
ame
f
ami
l
y.

Bus
ine
ssDoma
in
Bus
ine
ssi
sane
conomi
cuni
tth
atp
rod
uce
s,d
ist
ri
but
es,
and
/ore
xch
ang
esg
ood
s
a
nds
erv
ice
swi
thc
ust
ome
rsf
orar
eas
ona
blep
rof
it
.
Pe
opl
einb
usi
nes
ste
ndt
ore
lat
etoonea
not
heri
nah
ier
arc
hic
alma
nne
rba
sed
ond
efi
nedr
ole
sth
ata
red
esi
gne
dtof
urt
hert
heb
usi
nes
s.

Owne
rshi
pDoma
in
Owne
rsh
ipi
sth
eth
irdd
oma
inoft
hef
ami
l
ybus
ine
ssmod
el.Anowne
ris
s
ome
onewh
oha
sle
galc
lai
mtot
hea
sse
tsoft
heb
usi
nes
sandwh
ori
sksh
isor
h
erownp
ers
ona
las
set
sinh
ope
sofr
eal
i
zingap
rof
it
.Inaf
ami
l
ybus
ine
ss,
owne
rsh
ipma
yre
mai
nint
heh
and
sofonef
ami
l
yme
mbe
r,orwi
thi
nas
mal
l
g
roupoff
ami
l
yme
mbe
rs,
ore
vens
omenonf
ami
l
yme
mbe
rs

S
owha
tma
kest
hef
ami
l
ybus
ine
ssd
iff
ere
nt?
Th
edoma
inss
tand
ingont
hei
rown,i
nde
pend
entofe
achot
her
,isnod
iff
ere
nt
t
hana
nyot
herb
usi
nes
s.Wh
ati
suni
quet
oth
efa
mil
ybus
ine
ss,h
owe
ver
,ist
he
i
nvol
veme
ntoff
ami
l
yme
mbe
rsi
nmor
eth
anoned
oma
in(
fami
l
y,b
usi
nes
sand
owne
rsh
ip)wi
thd
iff
eri
ngp
urp
ose
s.I
tist
heo
ver
lapoft
hef
ami
l
y,b
usi
nes
sand
owne
rsh
ipd
oma
ins t
hatma
kesaf
ami
l
ybus
ine
ssd
iff
ere
ntf
rom ot
her
b
usi
nes
ses
,andi
tist
hef
ami
l
yinv
olv
eme
ntt
hatb
ring
sbot
hth
euni
quej
oysof
wor
kingt
oge
the
randt
hep
art
ic
ula
rpr
obl
emsofowni
nga
ndop
era
tinga
b
usi
nes
s.Th
isc
omb
ina
tionofd
oma
inov
erl
api
nsomee
ntr
epr
ene
uri
alf
ami
l
ies
p
res
ent
spr
obl
emswh
ichnon-
fami
l
ybus
ine
sse
sge
ner
all
ydonotf
ace
.
Ad
vant
age
sofaFa
mil
yBus
ine
ss
S
tre
ngt
hoff
ami
l
yre
lat
ions
hip
sdur
ingc
hal
l
eng
ingp
eri
odsofb
usi
nes
s

1
4
 c
hang
e
F
ina
nci
als
acr
if
ic
est
hatf
ami
l
yme
mbe
rsma
kef
ort
heg
oodoft
hef
ir
m
 Op
era
tiona
saf
ami
l
ybus
ine
ssd
ist
ing
uis
hest
hef
ir
mfr
omi
tsc
omp
eti
tor
s
 Hi
ghe
rle
vel
sofc
onc
ernf
ori
tsc
ommuni
tya
ndnon-
fami
l
yemp
loy
ees
 Ca
pab
il
it
ytop
lana
ndp
rep
aref
ort
hel
ongh
aul
 Emp
has
isonqua
li
tya
ndv
alue

TheCul
tur
alConc
eptofFa
mil
yBus
ine
ss
Cul
tur
eisd
efi
neda
scus
toma
rywa
ysofd
oingt
hing
sors
har
edb
eli
ef
s.
Or
gani
zat
iona
lcul
tur
ere
fer
stop
rac
ti
cesd
ist
ing
uis
hingag
ive
nfi
rmf
rom
a
not
her
.Th
esea
rep
att
ernsofb
eha
vioura
nd b
eli
ef
sth
atc
har
act
eri
zea
p
art
ic
ula
rfi
rm.I
nfa
mil
ybus
ine
ssh
owe
ver
,th
efound
er’
scor
eva
lue
sbe
comea
t
rans
mit
tedp
artoft
hec
ult
ure(
forb
ett
erorwor
se)
.
S
omeoft
hes
ecul
tur
alv
alue
sinc
lud
eMut
ualr
esp
ect
,Int
egr
it
y,Wi
seus
eof
r
esour
ces
,Pe
rsona
lre
spons
ibi
l
itya
nd“
Fun”
.

S
ECTI
ONS
EVEN:WOMENENTREPRENUERS
HIP
Th
epe
rsonwh
ori
skst
ime
,ef
for
tandmone
ytos
tar
tandop
era
teab
usi
nes
sis
c
all
eda
nent
rep
rene
ur(
Ude
h,1
990)
.Sc
hump
ete
r(1
954)s
eese
ntr
epr
ene
urs
hip
a
ssy
nony
mouswi
thi
nnov
ati
on,c
rea
tiv
it
yandr
isk
-ta
king
.Ca
rla
nde
t’
al
,(1
984)
d
efi
neda
nent
rep
rene
ura
sani
ndi
vi
dua
lwh
oes
tab
li
she
sandma
nag
esa
b
usi
nes
sfort
hep
rinc
ipa
lpur
pos
eofp
rof
ita
ndg
rowt
h.Ent
rep
rene
ursa
rea
lso
s
eena
spe
opl
ewh
oha
vet
hea
bil
i
tyt
ose
eande
val
uat
ebus
ine
ssop
por
tuni
ti
es,
t
oga
the
rth
ene
ces
sar
yre
sour
ces
,tot
akea
dva
nta
geoft
hem,a
ndt
oini
ti
ate
a
ppr
opr
iat
eac
ti
ont
oens
ures
ucc
ess(
Mer
edi
the
t’
al
,1982)
.Th
eent
rep
rene
uri
s
a
blet
ore
cog
niz
epot
ent
ial
l
ypr
ofi
tab
leop
por
tuni
ti
es,t
oconc
ept
ual
i
zev
ent
ure

1
5
s
tra
teg
ies
,andt
obe
comet
hek
eyf
orc
eins
ucc
ess
ful
l
ymov
inga
nid
eaf
romt
he
mi
nd t
oth
e ma
rke
tpl
ace(
Sta
nfor
d,1
975)
.Oz
uomb
a(2003
)sa
ysa
n
e
ntr
epr
ene
uror
gani
zes
,ma
nag
esa
nda
ssume
sth
eri
skofab
usi
nes
s.
Hi
sr
ihe
c t
’al2008)
,se
esa
nent
rep
rene
ura
sonewh
obr
ing
sre
sour
ces
,la
bour
,
ma
ter
iala
ndot
hera
sse
tsi
ntoc
omb
ina
tionst
hatma
ket
hei
rva
lueg
rea
tert
han
b
efor
e,a
nda
lsoonewh
oint
rod
ucec
hang
es,
innov
ati
on,
andane
wle
ade
rsh
ip
Th
eab
il
it
ytoma
nag
ehuma
nandma
ter
ial
res
our
cese
ffe
cti
vel
yande
ffi
ci
ent
lyt
o
a
chi
evee
ntr
epr
ene
uri
alob
jec
ti
vesi
s,t
hus
,vi
talf
ore
ntr
epr
ene
uri
als
ucc
ess
.
Gr
if
fi
ns(
1984)d
efi
nesma
nag
eme
nta
sth
epr
oce
ssofp
lanni
ng,or
gani
zi
ng,
l
ead
ing a
nd c
ont
rol
l
ing a
nor
gani
zat
ion’
shuma
n,f
ina
nci
al
,ph
ysi
cala
nd
i
nfor
mat
ion r
esour
cest
oac
hie
veor
gani
zat
iona
lgoa
lsi
nane
ffe
cti
vea
nd
e
ffi
ci
entma
nne
r.
Th
erei
s,h
owe
ver
,cons
ide
rab
ler
ese
arc
hev
ide
ncet
osup
por
tth
efa
ctt
hatf
ema
le
e
ntr
epr
ene
urs
,ps
ych
olog
ica
ll
y,a
renots
igni
fi
cant
lyd
iff
ere
ntf
rom t
hei
rma
le
c
ount
erp
art
sandt
hatt
heyma
ypos
ses
sev
ens
upe
riora
ttr
ibut
esa
nds
kil
l
sin
s
omea
rea
sre
lat
edt
oma
nag
eme
nte
ffe
cti
vene
ss.Cunni
ngh
am(
1987)
,for
i
nst
anc
e,i
dent
if
ie
dsomes
kil
l
scons
ide
redr
equi
redf
ore
ffe
cti
vema
nag
eme
nt:
c
ommuni
cat
ion,ne
got
iat
ing
,mot
iv
ati
ng,l
i
ste
ning
,inv
olv
ingp
eop
lea
tal
lle
vel
s,
c
ouns
eli
nga
nda
ppr
ais
als
kil
l
s,a
ndd
ele
gat
ion.Heme
nti
one
dth
att
hes
ear
e
mor
ecl
ose
lya
ssoc
iat
edwi
thwome
nth
anme
n.
Ros
ene
r(1
990)f
ound t
hatwome
nar
e mor
eli
kel
yth
an me
nto us
e
t
rans
for
mat
iona
lle
ade
rsh
ip,
name
ly,
mot
iv
ati
ngot
her
sbyt
rans
for
mingt
hei
rse
lf
-
int
ere
sti
ntog
oal
soft
heor
gani
zat
ion.Al
so,wome
nar
emuc
hmor
eli
kel
yth
an
me
ntous
epowe
rba
sedonc
har
isma
,tr
ackr
ecor
d,a
ndc
ont
act
s(p
ers
ona
l
p
owe
r)a
sop
pos
edt
opowe
rba
sedonor
gani
zat
iona
lpos
it
ion,t
it
le,a
ndt
o
r
ewa
rda
ndp
uni
sh(
str
uct
ura
lpo
wer
).
Wome
nli
keot
herg
roup
sofe
ntr
epr
ene
ursa
rei
nde
edi
nnov
ati
veb
yna
tur
eas
t
heyc
rea
tes
ome
thi
ngf
romnot
hingi
nana
tte
mptt
ocr
eat
eec
onomi
cva
luea
nd

1
6
a
ssi
sti
nfa
mil
yne
eds
,th
eirc
ont
ri
but
iont
oth
esus
tena
nceoff
ami
l
iesa
nd
e
conomyoft
hei
rre
spe
cti
vec
ommuni
ti
esa
ree
nor
mous(
Gus
au,
1998)
.
Af
ri
canwome
nar
ebyna
tur
einnov
ati
ve.Th
eyc
ane
asi
l
ycr
eat
esome
thi
ngf
rom
no
thi
ngi
nat
temp
ttos
ati
sf
yfa
mil
yne
eds
.Bye
xte
nsi
on,Ni
ger
ianwome
nar
e
na
tur
ale
ntr
epr
ene
ursa
ndp
res
ent
lyt
heyd
omi
nat
eth
einf
orma
lbus
ine
sss
ect
or
i
nth
eco
unt
ry.Onema
jorc
har
act
eri
st
icofe
ntr
epr
ene
urs
hipi
sth
efa
ctt
hati
t
s
hif
tsr
esour
cesf
roma
reaofl
owp
rod
uct
iv
it
ytoh
igh
erp
rod
uct
iv
it
yandy
iel
d.I
n
g
ivi
ngNi
ger
ianwome
nent
rep
rene
urst
hene
ces
sar
ysup
por
tandi
nce
nti
ve,
giv
en
t
hei
rna
tur
ale
ndowme
nti
ncr
eat
iv
it
yandi
nnov
ati
on,
the
yca
nea
sil
yde
vic
ene
w
wa
ys,ne
w me
thod
sandt
ech
nique
sint
hei
rar
easofs
pec
ial
i
zat
ion(
Nwoy
e,
2007)
.
Wome
n’sp
rod
uct
iv
e a
cti
vi
ti
esp
art
ic
ula
rlyi
n i
ndus
trye
mpowe
rth
em
e
conomi
cal
l
yande
nab
let
hemt
ocont
ri
but
emor
etoov
era
lld
eve
lop
ment
.
Wh
eth
ert
heya
rei
nvol
vedi
nsma
llorme
dium s
cal
epr
oduc
ti
ona
cti
vi
ti
esori
n
t
hei
nfor
malorf
orma
lse
ctor
s,wome
nent
rep
rene
uri
ala
cti
vi
ti
esa
renotonl
ya
me
ansf
ore
conomi
csur
viv
alb
uta
lsoh
avep
osi
ti
ves
oci
alr
epe
rcus
sionf
ort
he
wome
nth
ems
elv
esa
ndt
hei
rsoc
ial
env
ironme
nt(
UNI
DO,
2001
)

Wome
nEnt
repr
ene
urs
hipThe
ory
Th
eree
xis
tsap
rot
rac
tedd
eba
teonwh
eth
ero
rnotad
ist
inc
tth
eor
yisne
ces
sar
y
(
Br he
us tal
.2009;deBr
aine
tal
.2007)
.Br
ushe
tal(
2009)p
ost
ula
tet
hat
wome
nar
eoneoft
hef
ast
estg
rowi
nge
ntr
epr
ene
uri
alp
opul
ati
onsi
nth
ewor
ld.
Th
eyma
kes
igni
fi
cantc
ont
ri
but
ion t
oinnov
ati
on,e
mpl
oyme
nt,a
ndwe
alt
h
c
rea
tioni
nal
lec
onomi
es(
Br he
us tal2006)
.
Th
ecur
rentt
heor
eti
cala
ppr
oac
heswh
icha
renor
mal
l
yus
edi
ntr
yi
ngt
oex
pla
in
t
hep
henome
nons
houl
dbeb
roa
den,
the
set
heor
eti
cala
ppr
oac
hesd
eve
lop
eda
nd
s
temsf
rom t
hef
emi
ni
ste
conomi
cth
oug
htononec
ont
inuum,s
oci
ol
ogi
cal
i
mpe
rat
iv
e,p
syc
hol
ogi
calp
ers
pec
ti
vesa
ndi
nst
it
uti
ona
lfr
ame
wor
kata
not
her

1
7
s
cal
e.Th
eth
eor
iest
hata
rep
ert
ine
ntt
oth
est
udya
re:r
olei
nve
stme
ntt
heor
y,
t
het
heor
yofoc
cup
ati
ona
lcr
owd
ing
,soc
ial
i
zat
iont
heor
y,d
isc
ri
mina
tiont
heor
y,
i
nst
it
uti
ona
lth
eor
yandag
end
er-
awa
ref
rame
wor
k(5Mf
rame
wor
k).
i
.Rol
einv
est
mentt
heor
y:Th
ist
heor
yisp
remi
sedona
nund
ers
tand
ingof
f
ami
l
yde
cis
ionma
kings
ucht
hats
pous
alp
art
ner
semp
loyt
rad
e-of
fsa
bout
t
hei
rre
spe
cti
ver
ole
swi
thi
nth
efa
mil
y.Ac
cor
dingt
oth
ist
heor
y,wome
nte
nd
t
oinv
esti
nrol
eswi
thi
nth
ehous
ehol
d(p
are
nti
ng,h
omema
king
,et
c.
)wh
il
e
me
ninv
estt
hei
rti
mei
nth
epa
idwor
kfor
ce.Th
isl
eadt
odi
ff
ere
nce
sinr
ole
s
pec
if
ic
ati
on,
ands
pec
ial
i
zat
ion.
I
nth
econt
extoft
hiss
tud
yth
ist
heor
yte
ndst
oex
pla
ing
end
erd
iff
ere
nce
sin
b
usi
nes
sde
cis
ionma
kingb
etwe
ens
pous
es.Os
era
ndS
cot
t(2003
)pr
ovi
de
e
mpi
ri
cale
vid
enc
etos
howt
hatwome
nent
rep
rene
ursa
remor
eli
kel
yth
anme
n
t
ocons
ide
rth
eop
ini
onsoft
hei
rre
spe
cti
ves
pous
alp
art
ner
sfort
hei
rde
cis
iont
o
p
urs
ueb
usi
nes
sgr
owt
h.
i
i
.Thet
heor
yofoc
cupa
tiona
lcr
owd
ing
:Oc
cup
ati
ona
lCr
owd
ingwa
sde
vel
ope
d
b
yBe
rgma
nni
n1986
.Th
ist
heor
yasd
esc
ri
bedb
yPa
tch
rini
s(1
989)a
sse
rts
t
hatd
isc
ri
mina
tedg
roup
scr
owdunt
oea
rli
eroc
cup
ati
ona
ndb
ecomec
ros
s-
i
dent
if
ie
dwi
tht
hos
eoc
cup
ati
ons
,andt
hisr
esul
tsi
nex
ces
ssup
plyr
ela
tiv
eto
d
ema
nd,wh
ichk
eep
sth
eirwa
gesd
epr
ess
edr
ela
tiv
est
ooc
cup
ati
onst
hata
re
notd
esi
gna
ted
.
Be
rgma
nn(
1986
)al
sos
tat
est
hatag
roupi
sse
gre
gat
eda
ndf
urt
her
mor
eis
c
rowd
edi
ntor
ela
tiv
elyna
rrows
egme
ntofl
abourma
rke
ttur
f,i
tsme
mbe
rswi
l
l
a
sar
esul
tbel
essp
rod
uct
iv
eandt
hei
rla
bourr
ewa
rdswi
l
lbel
owe
r.
Th
ise
xpl
ai
nswh
ywome
ncr
owd
edi
nal
essp
rod
uct
iv
ese
gme
nta
ndl
owp
ayi
ng
j
obt
hatb
ringl
ess
ere
conomi
cre
tur
n.
i
i
i.S
oci
al
iz
ati
on The
ory
:Th
ist
heor
yas
ser
tst
hati
ndi
vi
dua
ls ma
int
aina
n
“
ide
olog
y”ors
etofi
dea
scons
truc
tedi
n,a
ndb
y,s
oci
et
y.Th
esei
deol
ogi
es
ma
kes
ens
eofs
oci
et
yandp
osi
ti
ont
hems
elv
eswi
thi
nas
oci
alc
ons
truc
t

1
8
 (
Crowl
ey&Hi
mme
lwi
t,
1992)
.Soc
ial
i
zat
ioni
sle
arne
dbe
hav
iorwh
ichoc
cur
sin
c
hil
dhooda
ndt
hroug
houtl
i
fe.Ge
nde
rdi
ff
ere
nce
sint
hes
oci
al
iz
ati
onofme
n
a
ndwome
npe
rme
atea
lls
oci
ali
nst
it
uti
onss
ucha
sfa
mil
y,s
chool
s,r
eli
gi
on
a
ndc
ult
urewh
ichr
esul
ttog
irl
sandb
oysh
avi
ngs
oci
al
lyd
iff
ere
nti
ate
drol
es,
a
nde
xpe
cta
tion.
i
v.Di
scr
imi
nat
ionHy
pot
hes
is:Di
scr
imi
nat
ionh
ypot
hes
iss
ugg
est
sth
atwome
n
a
rel
esswe
lcomei
ntoc
ert
ainp
rof
ess
iona
lac
ti
vi
ti
ese
vent
houg
hth
eyb
ringt
o
t
hema
rke
tequi
val
enta
bil
i
tya
ndqua
li
fi
cat
ion.Di
scr
imi
nat
ionma
yre
fl
ect
g
end
ers
ter
eot
ype
sandr
ole
senc
aps
ula
tingf
orwome
n(El
y,1
995)
.
Th
isd
isc
ri
mina
tionc
ome
sint
woa
lte
rna
tiv
eex
pla
nat
ions
.Fi
rst
,wome
nar
e
v
ict
imsofd
isc
ri
mina
tion a
nd s
econd
,wome
nar
ele
ssl
i
kel
ytos
eekf
or
op
por
tuni
ti
esa
ndr
esour
cesf
ear
ingt
urnd
own(
i.
e.p
erc
eiv
edd
isc
ri
mina
tion)
.
Th
esea
sse
rti
ons
,di
scr
imi
nat
ion a
nd p
erc
ept
ion of d
isc
ri
mina
tion,c
an
d
isc
our
ageb
orr
owe
rsa
ndma
ycomp
romi
set
heg
rowt
hpot
ent
ialofwome
n
b
usi
nes
s.
v
.Ge
nde
r-a
war
efr
ame
wor
k:Th
isf
rame
wor
kdr
ewf
rom i
nst
it
uti
ona
lth
eor
y
wh
ichf
ocus
esont
hed
eep
era
ndmor
ere
sil
i
enta
spe
ctsofs
oci
als
truc
tur
e
a
ndi
tcons
ide
rst
hep
roc
essb
ywh
ichs
truc
tur
es,i
ncl
udi
ngs
che
mas
,rul
es,
a
ndnor
msa
ndr
out
ineb
ecomee
sta
bli
she
daut
hor
it
ati
veg
uid
eli
nesf
ors
oci
al
b
eha
vior(
Bil
landHa
rdg
rav
e1981
;Powe
lla
ndDi
Mag
gio1
991
;Hod
gson1
994;
S
cot
t2001
).Th
efr
ame
wor
khi
ghl
i
ght
sth
ehous
ehol
dandf
ami
l
ycont
extof
f
ema
lee
ntr
epr
ene
urs
;andt
hema
cro/
mes
oenv
ironme
ntwh
ichc
apt
ure
s
c
ons
ide
rat
ionb
eyondt
hes
tand
arde
ntr
epr
ene
urs
hipmod
el(
3M)
;mone
y,
ma
rke
t,a
nd ma
nag
eme
ntt
oinc
orp
ora
tes
oci
ala
nd ot
heri
nst
it
uti
ona
l
c
ons
ide
rat
ionst
oex
tendt
oa(
5m)f
rame
wor
k;mone
y,ma
rke
t,ma
nag
eme
nt,
mot
her
hood
,andma
cro/
mes
oenv
ironme
nt.

Cons
tra
int
stoWome
nEnt
repr
ene
urs

1
9
Byt
het
rad
iti
onofs
omec
ult
urei
nNi
ger
ia,
li
ket
heYor
uba
,Ib
o,Ha
usaa
ndBi
ni
n,
wome
nar
enote
xpe
cte
dtob
einv
olv
edi
noc
cup
ati
onst
hatwi
l
lta
ket
hem
out
si
det
hei
rma
tri
moni
alh
ome
;th
eya
rer
ath
ere
xpe
cte
dtoma
nag
eth
efa
mil
y
a
nd“
bes
ubmi
ssi
vet
oth
eirh
usb
and
s”(
Ehi
gi
e&I
demud
ia,
2000)
.
Br
eene
tal
,(1
995)h
igh
li
ght
edt
hatf
ema
leb
usi
nes
sowne
rsf
ace
dth
epr
obl
emof
g
ett
ingf
ina
ncea
nds
tar
tedb
usi
nes
swi
thl
owi
ni
ti
alc
api
tal
.Ont
hef
ami
l
yfr
ont
wome
nent
rep
rene
ursf
ace
dth
epr
obl
em ofs
upe
rvi
si
ona
ndc
aref
ors
ick
c
hil
dre
n.
Bl
i
ssa
ndGa
rra
tt(
2001
)ex
ami
nedt
hewor
kingofor
gani
zat
ionf
orwome
n.Th
e
b
asi
cpur
pos
eoft
hes
eor
gani
zat
ionsh
asb
eent
opr
ovi
dei
nput
stowome
n
e
ntr
epr
ene
ursi
nth
efi
el
dofp
rof
ess
iona
let
hic
s,p
rot
ect
ionofr
igh
tsofwome
n
e
ntr
epr
ene
ursa
ndt
hei
rcomp
ani
es,
exc
hang
eofe
xpe
rie
ncea
ndot
hera
cti
vi
ti
es.

S
ECTI
ONEI
GHT:THECONCEPTOFS
OCI
ALENTREPRENEURS
HIP

Anyd
efi
ni
ti
onoft
het
ermS
oci
ale
ntr
epr
ene
urs
hipmus
tst
artwi
tht
hewor
d
Ent
rep
rene
urs
hip
,be
caus
eth
ewor
dSoc
ial
simp
lymod
ifi
esEnt
rep
rene
urs
hip
.

Ent
rep
rene
urs
hipDe
fine
d.

Ent
rep
rene
urs
hipd
esc
ri
best
hec
omb
ina
tionofac
ont
exti
nwh
icha
nop
por
tuni
ty
i
ssi
tua
ted
,as
etofp
ers
ona
lcha
rac
ter
ist
ic
sre
qui
redt
oid
ent
if
yandp
urs
uet
his
op
por
tuni
tya
ndt
hec
rea
tionofap
art
ic
ula
rout
come
.

Ent
rep
rene
uri
alCont
ext

Th
ise
xpos
esas
it
uat
ionnor
mal
l
yanunp
lea
santb
utas
tab
leonei
nag
ive
n
s
yst
em.

Ent
rep
rene
uri
alCha
rac
ter
ist
ic
s

20
Th
isi
ncl
ude
s:I
nsp
ira
tio
n,Cr
eat
iv
it
y,Di
rec
tac
ti
on,
Cour
agea
ndf
ort
it
ude
.Th
isi
s
h
owi
tgoe
s:Th
eent
rep
rene
urus
esi
nspi
rat
iont
oal
tert
heunp
lea
sants
tab
le
s
it
uat
ion,
het
hena
dop
tsc
rea
tiv
ityt
ode
vel
opane
wsol
uti
ont
hatwoul
dch
ang
e
t
hes
it
uat
iona
ndt
hent
ake
sdi
rec
tac
ti
onwi
thoutwa
iti
ngf
ors
ome
onee
lse
’s
i
nte
rve
nti
ont
osol
vet
hep
rob
lem.Het
hend
emons
tra
tesc
our
agea
ndf
ort
it
ude
a
shewo
rkst
ore
ali
zeh
isg
oal
.

Ent
rep
rene
uri
alOut
come

Th
isr
epr
ese
ntsane
wst
abl
eeq
uil
i
bri
umt
hats
erv
esa
same
ani
ngf
uls
ubs
ti
tut
e
t
oanunp
lea
sants
it
uat
ion,
prov
idi
ngah
igh
erl
eve
lofs
ati
sf
act
ionwi
thi
nag
ive
n
s
yst
ema
sar
esul
tofe
ntr
epr
ene
uri
ale
ffor
t.

S
oci
alEnt
repr
ene
urs
hipDe
fine
d

S
oci
ale
ntr
epr
ene
urs
hipi
sequa
ll
ygr
ound
edi
nth
iss
ame t
hre
eel
eme
nts
me
nti
one
dab
ovet
hatma
keupe
ntr
epr
ene
urs
hip
.Itc
oul
dth
ere
for
ebed
efi
neda
s
h
avi
ngt
hef
oll
owi
ngt
hre
ecomp
one
nts
:

1
)Id
ent
if
yi
ngas
tab
leb
uti
nhe
rent
lyunj
usts
tab
les
it
uat
iont
hatc
aus
est
he
e
xcl
usi
on,ma
rgi
nal
i
zat
ionors
uff
eri
ngofas
egme
ntofh
uma
nit
yth
at
l
ack
sth
efi
nanc
ialme
ans or p
oli
ti
cali
nfl
uenc
etoa
chi
evea
ny
t
rans
for
mat
iona
lbe
nef
it
soni
tsown.

2)I
dent
if
yi
ngop
por
tuni
tyi
nth
isunj
ust
,de
vel
opi
ngas
oci
alv
aluep
rop
osi
ti
on
a
ndb
ring
ingt
obe
ari
nsp
ira
tion,c
rea
tiv
it
y,d
ire
cta
cti
on,c
our
age
,and
f
ort
it
ude
,th
ere
byc
hal
l
eng
ingt
heon-
goi
ngd
omi
nat
ingi
nfl
uenc
e.

21
 3
)For
gingane
wst
abl
est
atet
hatr
ele
ase
str
app
edp
ote
nti
alora
ll
evi
ate
sth
e
s
uff
eri
ngoft
het
arg
etg
roupi
nas
ust
aina
blema
nne
r.

S
oci
alEnt
repr
ene
urs
hipa
ndVa
lueCr
eat
ion

As
hok
aor
gani
zat
ion(
2007)d
efi
ness
oci
ale
ntr
epr
ene
ursa
sind
ivi
dua
lswi
th
i
nnov
ati
ves
olut
ionst
osoc
iet
y’
spr
obl
ems
.Th
eya
rea
mbi
ti
ousa
ndp
ers
ist
ent
,
t
ack
li
ngma
jors
oci
ali
ssue
sandof
fer
ingne
wid
easf
orwi
des
cal
ech
ang
es.
Dee
s
(
2001
)conc
eiv
esofs
oci
ale
ntr
epr
ene
ursa
spl
ayi
ngt
her
oleofc
hang
eag
enti
n
t
hes
oci
als
ect
orb
y:

1
)Ad
opt
ingami
ssi
ont
ocr
eat
eands
ust
ains
oci
alv
alue
.

2)Re
cog
niz
inga
ndr
ele
ntl
ess
lyp
urs
uingne
w op
por
tuni
ti
est
ose
rvet
hat
mi
ssi
on.

3
)Eng
agi
ngi
nap
roc
essofc
ont
inue
sinnov
ati
ona
dap
tiona
ndl
ear
ning
.

4)Ac
ti
ngb
old
lywi
thoutb
eingl
i
mit
edb
yre
sour
cesc
urr
ent
lya
tha
nd

5)Ex
hib
it
ingh
eig
hte
neda
ccount
abi
l
ityt
oth
econs
ti
tue
nci
ess
erv
eda
ndf
or
t
heout
comec
rea
ted
.

S
oci
ale
ntr
epr
ene
urs
hipi
fad
mini
st
ere
def
fec
ti
vel
yca
nbe
nef
itp
eop
lea
tth
e
g
ras
sroo
tsl
eve
landb
eyond
.Al
thoug
hth
ebe
nef
it
sar
enota
lwa
ysf
ina
nci
al
,
s
oci
ale
ntr
epr
ene
uri
ale
ffor
tsc
anp
rov
idef
ori
nst
anc
e,p
ers
ona
lsk
il
ls
,imp
rov
e
e
duc
ati
ona
nde
nha
nces
elf
-wor
tht
her
ebyc
rea
tingv
aluea
ndma
kinge
ffe
cti
ve
c
ont
ri
but
iont
ogr
owt
h.

S
oci
alEnt
repr
ene
urs
hipa
ndFund
ingOppor
tuni
ti
es

S
tar
t-
upf
und
sma
yco
mef
rom v
ari
ouss
our
ces
.Fori
nst
anc
efund
sma
ybe
s
ecur
edf
rom g
ove
rnme
ntorp
riv
ateg
rant
sandd
ona
tionsf
rom i
ndi
vi
dua
lsa
nd
or
gani
zat
ions
.Howe
vert
oav
oidwh
ath
asb
eend
esc
ri
beda
sdonord
epe
nde
ncy
,

22
s
oci
ale
ntr
epr
ene
urse
mbr
aceb
usi
nes
sent
rep
rene
ur’
sst
rat
egi
esi
nge
ner
ati
ng
i
ncome
.Th
ise
arne
dinc
omep
rov
idet
hem wi
tht
hee
xpa
nde
dop
por
tuni
tyi
n
r
eac
hingoutt
ome
eti
ngt
hei
rst
ate
dmi
ssi
ona
ndob
jec
ti
vesa
ndf
ree
dom f
rom
s
tri
nge
ntc
ond
iti
onsa
ndr
est
ri
ct
ions
etb
ydono
rag
enc
iesont
heus
eoff
und
s.

23