evaluate two factors within a cultural group that may have an impact on one’s decision to become an entrepreneur
There are many factors that can affect an individual’s decision to become an entrepreneur and some of these factors can be specific to cultural groups. Here are two factors within a cultural group that can impact one’s decision to become an entrepreneur:
1. Attitudes Towards Risk: Cultural attitudes towards risk can play a vital role in one’s decision to become an entrepreneur. Many cultures value stability and security, which can make the idea of starting a business seem too risky. Risk-taking, however, is inevitable when starting a new business. In some cultures, the idea of taking risks may be viewed as a positive thing. In such cultures, entrepreneurs might be admired for taking risks and may even be seen as heroic.
2. Family Expectations: Family expectations can also play a significant role in one’s decision to become an entrepreneur. Some cultures emphasize education and professional achievement over entrepreneurship. Many cultures see successful entrepreneurs as people who have started a business because they had no other viable option. This can create tension between entrepreneurs and their families, who may discourage them from taking risks and starting their own business, with the expectation that they will enter reliable, well-established professions instead.
These are just two factors that can impact an individual’s decision to become an entrepreneur within cultural groups. It is important to note that cultural factors are just one aspect that can affect an individual’s decision to become an entrepreneur - other factors like access to capital, education, and experience can also shape an individual’s decision.