Problem
Shortage of entrepreneurial ability
Other Names:
Unconfident potential entrepreneursInexperienced industrial leaders
Missing entrepreneur skills
Lacking industrial imagination
Unfeasible industrial images
Insufficient development brokers
Unregulated entrepreneurs
Ineffective entrepreneurship
Nature:
The general lack of indigenous leadership in the initial stages of the industrialization process may be due in part to the very newness of the factory system and its various concomitants. In addition to such initial difficulties there may be major impediments rooted in the social structure itself, in the rigidity of the social system and in the values a particular society attaches to different kinds of economic activity. In pre-industrial societies, the greater part of the population usually consists of peasant groups whose traditional outlook, closed family economy and general cultural background are not the best training ground for industrial leadership. The source of potential industrial leadership, therefore, may be limited to the numerically small upper classes. Even in this group, however, entrepreneurial ability is not purely a function of the education and wealth that its members may have, for in most cases their standards of values and ways of life do not dispose them towards industrial undertakings.
Broader Problems:
Disincentives to market entryLack of leadership initiativeFailure of centrally planned economiesUnavailability of appropriate expertise Related Problems:
Deficient business leadership Aggravates:
Lack of local industriesThwarted community enthusiasmInadequate industrial servicesInfrequent achievement of honoursPrejudicial community self-relianceUnderemphasis on local economic developmentOverlooked potential for industrial development in rural communities Reduced By:
Informal sectorStrategies:
Training in industrial developmentSupporting very small scale economic activitiesPromoting entrepreneurshipFostering small businessEntrepreneurDeveloping feasible industrial imagesProviding industry experienceIncreasing development brokersProviding sufficient imaginative resourcesProviding sufficient imaginative resources Subject(s):
Commerce → Agencies, dealersDevelopment → Development
Development → Potential
Education → Educational level
Individuation → Individuation
Industry → Industry
Psychology → Imagery
Social Activity → Human resources
Social Activity → Self employed
Societal Problems → Ineffectiveness
Societal Problems → Scarcity
Society → Disadvantaged
Related UN Sustainable Development Goals:
Problem Type:
D: Detailed problems Date of last update
24.06.2019 – 18:30 CEST