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Questions and Answers
What is a theory primarily defined as?
What is a theory primarily defined as?
Which theory focuses on the social aspects influencing entrepreneurship?
Which theory focuses on the social aspects influencing entrepreneurship?
What do all entrepreneurship theories aim to do?
What do all entrepreneurship theories aim to do?
Which factor is associated with the psychological theory of entrepreneurship?
Which factor is associated with the psychological theory of entrepreneurship?
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What type of factors does the external factor theory consider?
What type of factors does the external factor theory consider?
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Which of the following is NOT a component of the economic theory of entrepreneurship?
Which of the following is NOT a component of the economic theory of entrepreneurship?
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What defines the opportunity theory of entrepreneurship?
What defines the opportunity theory of entrepreneurship?
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Which concept relates to the psychological theory of entrepreneurship?
Which concept relates to the psychological theory of entrepreneurship?
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Study Notes
Course Information
- Course title: Entrepreneurship & Innovation (ENT 211)
- Institution: Nile University of Nigeria
- Offered by: Dr. Yusuf Salami
- Date: October 2024
Definition of Theory
- A theory is a set of propositions that explain phenomena and patterns of relationships among people, objects, and things.
- It provides a systematic way of explaining phenomena.
- Igbokwe (2018) defines a theory as a set of interconnected constructs, definitions, and propositions.
- These propositions offer a systematic view of phenomena by explaining and predicting phenomena.
- A theory is a set of principles that helps in understanding how things work.
Theories of Entrepreneurship
- The theories of entrepreneurship encompass different perspectives:
- Sociological theory of entrepreneurship
- Opportunity theory of entrepreneurship
- Economic theory of entrepreneurship
- Psychological theory of entrepreneurship
- External factor theory of entrepreneurship
Economic Theory of Entrepreneurship
- Elements influenced by economic theory include:
- Export promotion programs
- Free market policies
- Exchange rate policy
- Low inflation rate
- Low interest rates for exporters
- Lifted tariff barriers
Psychological Theory of Entrepreneurship
- This theory links to factors like:
- Need for achievement
- Perceptions
- Attitudes
- Fear
Sociological Theory of Entrepreneurship
- This theory encompasses factors like:
- Social beliefs, customs, and taboos
- Social acceptance and social status of entrepreneurs
- Social attitudes
External Factor Theory of Entrepreneurship
- Environmental factors impacting entrepreneurship include:
- Technology
- Politics
- Natural causes
- Local & global wars
- Government Policies
Opportunity Theory of Entrepreneurship
- This theory relates to:
- Business opportunities and their identification.
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Description
Test your knowledge on the theories of entrepreneurship with this quiz. Explore various perspectives including sociological, economic, and psychological theories. Gain a deeper understanding of how these theories explain entrepreneurial phenomena.
