'Y' ENTREPRENEURS ARE DIFFERENT

'Y' Entrepreneurs Are Different: A Phenomenological Study of the Lived Experience of the Generation 'Y' Entrepreneur



Table of Content

CHAPTER-I: INTRODUCTION3

1.1 Research Problem and its Background3

1.2 Purpose of the Study5

1.3 Significance of the Study5

1.4 Assumptions8

CHAPTER-2: REVIEW OF LITERATURE9

2.1: Literature Review-A Comprehensive Reflection9

2.2 Economics-Based Approaches16

2.3 Individual-Based Approaches17

2.4 Process-Based Approaches23

2.5 Conceptual Framework for the Research26

2.6 Literature Gaps Leading to the Research Questions28

2.7 Research Questions28

CHAPTER-3: RESEARCH METHOD AND DESIGN29

3.1 Methodology - Qualitative Method29

3.2 How it will help answer the Research Questions29

3.3 Identification of Research Respondents30

3.4 Type of Sample and Sample Size Determination30

3.5 Method of Contacting Respondents31

3.6 Data Collection Methods31

3.7 Ethical Practices32

3.8 Data Analysis34

3.9 Data Reliability and Validity35

REFERENCES37

CHAPTER-I: INTRODUCTION

1.1 Research Problem and its Background

The entrepreneur is at once one of the most intriguing and one of the most elusive in the cast of characters that constitutes the subject of economic analysis. Many microeconomic theory and industrial organization texts omit mention of entrepreneurship altogether because neoclassical economics posits no need for it. The supply-side perspective of entrepreneurship is anchored in the individual drive to engage in entrepreneurship rather than the emergence of entrepreneurial activities in response to change in economic and social conditions.

The historical and contemporary importance of entrepreneurship to capitalism is made evident by consistent increases in the number of individuals who have engaged in entrepreneurial efforts over the past one hundred years. The significant role of entrepreneurship in the sustainability of capitalism led to the development of a well-established line of inquiry into the attributes and behavioral patterns of individual entrepreneurs. The resulting research on individuals as key contributors or inputs to the entrepreneurial thrust of economies has been termed the supply-side perspective of entrepreneurship.

In words of Tapscott (2008) Max Weber (1864-1920) made important early contributions to understanding entrepreneurship. Although Weber rejected single-factor explanations such as cultural determinism, he thought that culture was a key factor in the rationalization of Western society that resulted in capitalist entrepreneurship. Weber's analysis was at the level of the society, not of the community, but his demonstration of the importance of a contextual variable such as culture on economic behavior has had a lasting influence.

Joseph Schumpeter (1883-1950) usually is considered the founder of entrepreneurship as a specific area of scholarship. In his view, the entrepreneur is an innovator who is willing to break with social convention to pursue a risky business venture. The entrepreneur must have the will and authority to be an innovator, and he or she must be impervious to criticisms that usually accompany innovation.

Other theorists have attributed the primary factor in entrepreneurial activity to the need for achievement or the idea that the marginal status of certain groups spurs greater entrepreneurial behavior. Deviant or innovative behavior is not sanctioned so strongly as in the dominant group, or immigrants lose whatever status they had in their home country. Such people seek new means to establish their social and economic standing in society.

Technological advancement has brought a lot of changes in the business world that adopt the innovations into the ...