25 Aug What are Potential barriers to Business/Entrepreneurship?
Outline: What are Potential barriers to Business/Entrepreneurship?
Thesis: Exploring the various barriers that hinder business and entrepreneurship is essential to understanding entrepreneurs’ challenges and finding ways to overcome them for sustained growth and success.
Introduction:
· In the dynamic landscape of business and entrepreneurship, barriers play a pivotal role in shaping outcomes and success. Identifying and addressing these obstacles is crucial for fostering growth and innovation.
· This paper examines barriers from various scholarly articles, offering a comprehensive view of their impact and potential solutions.
· Article 1: Social Entrepreneurship: Golubovski et al. (2022) article explores social entrepreneurs’ challenges. It highlights the fusion of social missions and business strategies in overcoming barriers.
· Article 2: Developing Economy: Bizri et al.’s (2012) article underscores obstacles in developing nations. It emphasizes the lack of social networks, external stability, and conducive business environments as barriers.
· Article 3: Opportunity Recognition vs. Pursuit: Khanin et al. (2022) study analyzes factors hindering opportunity recognition and pursuit, encompassing cognitive, social, and economic dimensions.
· The paper uncovers common themes among articles, highlighting the interconnectedness of societal, economic, and cognitive factors as obstacles to entrepreneurship.
· Understanding and overcoming barriers spurs innovation and growth and contributes to broader societal and economic advancement.
Body Paragraph 1:
Article 1 : Barriers That Affect The Social Entrepreneurship by Golubovski, Kantardjieva, and Ashtalkoska (2022).
· Golubovski et al. (2022) article examines challenges social entrepreneurs and their enterprises encounter, delving into economic, socio-cultural, and institutional dimensions.
· Social entrepreneurship uniquely merges social missions and business strategies, allowing for effective engagement with societal issues.
· A notable feature highlighted in the article is the blending of objectives related to societal welfare and sustainable business strategies, characteristic of the social entrepreneurship model.
· Golubovski et al. (2022) suggest that these challenges traverse economic, socio-cultural, and institutional domains and can be transformed into fertile grounds for innovation and expansion, largely due to social entrepreneurs’ close community connections and insightful understanding of relational dynamics.
· The article seamlessly aligns with the overarching thesis, emphasizing the importance of holistic approaches to challenges, which drive sustainable achievements in business and entrepreneurship.
Body Paragraph 2:
Article 2: Barriers to Entrepreneurial Endeavors in a Developing Economy” by Bizri, Kojok, Dani, Mokahal, and Bakri (2012).
· Exploring barriers hindering entrepreneurial pursuits in a developing nation, the study considers entrepreneurship a crucial development driver.
· Employing a questionnaire comprising 27 items, the research takes a quantitative approach to gather data.
· Significant barriers, including a lack of social network, external stability, risk aversion, and an enabling business environment, are highlighted through the research.
· The findings offer valuable insights into factors impacting entrepreneurial inclination within developing nations.
· Addressing a literature gap, the study deepens our understanding of barriers to entrepreneurship in developing economies, specifically focusing on Lebanon.
· In alignment with the thesis, this article sheds light on entrepreneurs’ challenges in developing economies, emphasizing how overcoming these barriers can facilitate sustainable development.
Body Paragraph 3:
Article 3: Barriers to Entrepreneurship: Opportunity Recognition vs. Opportunity Pursuit by Khanin, Rosenfield, Mahto, and Singhal (2022).
· Khanin et al. (2022) study explores the impediments that hinder the recognition and pursuit of opportunities in entrepreneurship.
· The perspective adopted involves defining barriers as conditions that obstruct the identification and pursuit of opportunities.
· The research delves into a range of factors, including cognitive-psychological, social-institutional, and economic-operational elements, all of which contribute to the emergence of these barriers.
· The methodology employed involves analyzing entrepreneurs’ narratives and coping strategies using the abduction method, thus enhancing the existing theoretical framework.
· By examining entrepreneurs’ stories and coping mechanisms, the study aids in comprehending the heterogeneous nature of entrepreneurship across different countries.
· In alignment with the thesis, this article underscores the significance of surmounting barriers for entrepreneurial triumph, accentuating the multifaceted nature of these obstacles and the diverse factors that contribute to their existence.
Conclusion:
· Exploring these articles has shed light on entrepreneurs’ diverse challenges in pursuing success. These challenges, ranging from economic and socio-cultural to cognitive and institutional, collectively shape the entrepreneurial landscape.
· The articles emphasize unique perspectives that barriers can be transformed into opportunities for innovation and growth. This reframing of obstacles underscores the resilience and creativity inherent in entrepreneurial endeavors.
· The insights presented in this paper hold immense significance for the professional field of business and entrepreneurship. Understanding barriers and their potential to catalyze positive change is essential for aspiring and established entrepreneurs, policymakers, and educators.
· By recognizing barriers as stepping stones rather than stumbling blocks, entrepreneurs can navigate their journey more effectively. This perspective encourages a proactive approach to problem-solving and fosters a culture of adaptability and resilience.
· Addressing barriers fosters sustainable growth, empowering entrepreneurs to transform challenges into opportunities, drive innovation, and positively impact the economy and society.
References
Bizri, R. M., Kojok, A., Dani, A., Mokahal, M., & Bakri, M. (2012). Barriers to entrepreneurial endeavors in a developing economy. Hariri Canadian University, Lebanon.
Golubovski, G., Kantardjieva, M., & Ashtalkoska, I. (2022). Barriers That Affect the Social Entrepreneurship. Vizione, (39).
Khanin, D., Rosenfield, R., Mahto, R. V., & Singhal, C. (2022). Barriers to entrepreneurship: opportunity recognition vs. opportunity pursuit. Review of Managerial Science, 16(4), 1147-1167.
