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Mgt 31020 Essay

1679 words - 7 pages

Introduction

During this essay the concept of how enterprise ‘push and pull’ are useful in explaining why people start up a business will be explained. Furthermore this information will be backed real entrepreneurship examples from case studies. Finally there will be an overall conclusion on the findings of how these concepts make ordinary individuals go into business.

Main body

Business start-ups can be explained straightforwardly by push or pull factors (Gibb & Ritchie, 1982).Moreover according to (Storey, 1994) the determinants of entrepreneurship a dissimilarity is often made between push and pull. Difference between these two is that an individual can either be pushed into ...view middle of the document...

The case study of alternative publishing ltd clearly shows the concept independence in action. Majid the entrepreneur who founded the company Alternative publishing ltd explains his ‘’strong desire to be able to empower himself’’ whereby he can take his own decisions and be independent. The desire for independence and also achievement is seen as being important influence to starting a business (Hisrich 1986). In another case study of entrepreneurship in action Lesley the founder of Lawton dancewear ‘’always wanted to work for herself, to have independence’’.

Having the experience background means individuals are naturally pulled into business. Therefore the individual would approach this opportunity and exploit it by starting a business. (B,Reena et all 2006). This pull factor concept of influence argues that individuals who started a business were ‘’ directly or indirectly former employees of established firms (Freeman, 1986). In general it is expected that a person with a very good experience background will have a good understanding of business and opportunities and therefore engage in entrepreneurship (Evans and Leighton 1989). This influential concept gives the employee a transition from being an employee to starting a business. This is mainly in order to use the experience gained from the previous job to exploit entrepreneurial opportunities (Cassiman & Ueda, 2006). The way experience influences individuals to start a business are seen in the case study. Entrepreneurs Majid and Suhail took the experience of publishing from voluntary work to start their own business.

Gaining financial profit is a major reason why people start a business. The expectations that there is a lot of money to be made from starting a business is very appealing (Foti and Vivarelli (1994). Moreover the expectations that self-employment gives higher profits acts like a pull factor. According to (Knight, 1921) the pull factor comes in when the individual knows that self-employment has higher return in money compared to wages. Furthermore money makes people start business because financial benefit from entrepreneurship may be significant (Gatewood et all 1995). Additionally (Rees and Shah 1986) stated that decision on being self-employed depends mostly on earnings. Therefore if an individual feels that he or she can get more money from opening a business then they are pulled into this idea. This is backed by (Taylor 1996) whereby he concludes that individuals are naturally attracted to self-employment by the higher earnings. How this is

Those people that have the creativity factor are most likely to be pulled by business opportunities. They possess the ability to problem solve and come up with new ways to start a business. (Ward, 2004) states that individuals with creative minds are more likely to engage in entrepreneurial behaviour. Moreover creativity is very useful on the basis that it’s important antecedent of entrepreneurial intentions. Having the...

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