Implication for decision making by individual entrepreneurs Entrepreneurship Development and Industrial Consultancy DBM421 A K Jha India is a secular country Religion is one of the cultural variables ID: 1022763
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1. Indian Social, Political and Economic Systems: Implication for decision making by individual entrepreneursEntrepreneurship Development and Industrial Consultancy (DBM-421)A. K. Jha
2. India is a secular country. Religion is one of the cultural variables. Religion shapes the values and beliefs of a person It also has an influence on entrepreneurial behaviour Type of business andWomen’s participation in business. Indian Social, Political & Economic Systems
3. Socio-cultural environment encompasses all the variables which are not included in economic or political environment.The socio cultural environment include whole range of behaviors and relationships in which people engage in their private and personal lives including the characteristic of population, age, sex, race, class values and attitudes, lifestyle and relationships.Socio-cultural Environment
4. Cultural factorsCulture is a phenomena exhibited by groups and this can mean society as a whole (national culture), groups within society (sub culture) or even groups of societies and nations (trans national culture). For example, many times the word "Indian culture " is used. This implies that there are certain values and way of life that Indian societies might be sharing.Social factorsIt includes programmes and policies of the government aimed at improving the living standards of the people of that country by better availability of public services.
5. Different aspects of social environment:Poverty and its alleviation programs Labor and employment Women and children development Education Health Population and family welfare Empowerment of disadvantageous groups Public committees in rural and urban areas
6. Major Socio Cultural Variables of Indian CultureSocio cultural variableCharacteristicsAdministrativeExistence of impersonal bureaucratic social relations, mistrust of fellow workers, highly centralized administration, more emphasis on hierarchical status in decision making, Bureaucratic delay, less amount of delegation, dissatisfied employeesAttitude towards work and goalsGeneral and deep seated apathy, separation of work from its results, performance of tasks without any dedication, pride or interestDiscipline and orderLack of discipline at all levels, Lack of trust on authority, Poor superior subordinate relationshipsGroup HarmonyAssumption of inequality of human beings, self centered behavior, suspecting fellow employees, lack of cooperation and teamworkEducationMostly indifferent and highly ambiva
7. Micro Environmental FactorsBusiness organization exert some influence on micro environmental forces as compared to macro environmental forces. This includes factors like:Market Organization Market intermediariesSuppliers of raw material Employees, etc.
8. Micro Environmental FactorsBusiness organizations sell their products with the help of market intermediaries, which includewholesalers, distributors, retailers and all other middleman.It is possible to control the activities of marketing intermediaries by providing appropriate commissions, training, other financial support etc. Suppliers are individuals and organizations that provide necessary resources for manufacturing goods or providing services. They are critical to an organization’s marketing success and an important link in its value delivery system.
9. Environmental factors in decision makingThe success of any enterprise depends upon managerial decisions. Manager’s decisions are also affected by environmental factors.It is, therefore, necessary that managers understand and evaluate the impact of environmental factors on their decisions.