An Eclectic Theory of Entrepreneurship: Three level analysis for developing Entrepreneurship Policy in Pakistan
Keywords:
Eclectic Theory of Entrepreneurship; Micro level; Meso Level; Macro Level; Entrepreneurship Policy of PakistanAbstract
The study was intended to recommend guidelines for developing entrepreneurship policy in Pakistan. For this purpose An Eclectic Theory of Entrepreneurship was used as theoretical frame work to analyze empirical research studies and available reports at three different levels. At micro level, low literacy rate was found to be foremost requirement for developing entrepreneurship. Lack of knowledge based economic system was found to be the center of problem at meso level. At macro level, core of the problem is that policy makers need to understand the spirit of entrepreneurship to plan economic policy accordingly. It was recommended that efforts may be made to: raise education level and entrepreneurial orientation of the people; reshaping to knowledge based economic system; and entrepreneurship may be designated as major pillar of economic policy.
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Fayyaz, A., Mian, S. A., & Khan, J. H. (2009). State of entrepreneurship and globalisation in Pakistan. International Journal of Business and Globalisation, 3(3), 271-287.
Hanif, M. (2018). An Analysis of International Trade of Pakistan: With a Focus on Exports. Paradigms: A Research Journal of Commerce, Economics, and Social Sciences, 12(1), 22-30.
Harram, A., & Fozia, M. (2015). Customer oriented marketing capabilities and firm performance mediated by new product development capabilities and moderated by environmental turbulence. International Journal of Economics and Management Science, 4(9), 1-8.
Hyder, S., & Lussier, R. N. (2016). Why businesses succeed or fail: a study on small businesses in Pakistan. Journal of Entrepreneurship in Emerging Economies.
Kalim, R., Lodhi, S. A., & Haroon, Y. (2002). The knowledge-based economy: trends and implications for Pakistan [with comments]. The Pakistan Development Review, 787-804.
Karlsson, C., & Johansson, B. (2006). Dynamics and Entrepreneurship in a Knowledge-based Economy. Karlsson, C., B. Johansson & RR Stough (2006)(Eds.), Entrepreneurship and Dynamics in the Knowledge Economy, Routledge, New York, 12-46.
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Khan, M. W. J., & Khalique, M. (2014). Entrepreneurial approach and intellectual capital in Pakistani manufacturing pharmaceutical organizations. Paper presented at the 6th International Borneo Business Conference, Kuching, Malaysia,(IBBC).
Kirby, D. A. (2004). Entrepreneurship education: can business schools meet the challenge?
Education+ training.
Kumar, M. (2020). Entrepreneurship Ecosystem and Development of Entrepreneurship in Pakistan. Open Journal of Business and Management, 8(4), 1734-1770.
Lundstrom, A., & Stevenson, L. A. (2006). Entrepreneurship policy: Theory and practice (Vol.
: Springer Science & Business Media.
Mahmood, T., Rehman, H.-u., Rauf, S., & Rauf, S. (2008). Evaluation of macro economic policies of Pakistan (1950–2008). Journal of Political Studies, 17, 57-75.
Matlay, H., Frank, H., Korunka, C., Lueger, M., & Mugler, J. (2005). Entrepreneurial orientation and education in Austrian secondary schools. Journal of Small Business and Enterprise Development.
McCann, P., & Ortega-Argilés, R. (2016). Smart specialisation, entrepreneurship and SMEs: issues and challenges for a results-oriented EU regional policy. Small Business Economics, 46(4), 537-552.
McMullen, J. S., & Shepherd, D. A. (2006). Entrepreneurial action and the role of uncertainty in the theory of the entrepreneur. Academy of Management review, 31(1), 132-152.
Minniti, M. (2008). The role of government policy on entrepreneurial activity: productive, unproductive, or destructive? Entrepreneurship theory and Practice, 32(5), 779-790.
Mirzanti, I. R., Simatupang, T. M., & Larso, D. (2015). A conceptual framework of entrepreneurship policy. Global Illuminators, 1, 321-332.
Naqvi, N. (2018). Finance and industrial policy in unsuccessful developmental states: The case of Pakistan. Development and Change, 49(4), 1064-1092.
Neef, D., Siesfeld, T., Siesfeld, G. A., & Cefola, J. (1998). The economic impact of knowledge: Routledge.
Pihie, Z. A. L., Bagheri, A., & Sani, Z. H. A. (2013). Knowledge of cognition and entrepreneurial intentions: Implications for learning entrepreneurship in public and private universities. Procedia-Social and Behavioral Sciences, 97, 174-181.
Rich, A. (2005). Think tanks, public policy, and the politics of expertise: Cambridge University Press.
Rodrik, D. (1996). Understanding economic policy reform. Journal of economic Literature, 34(1), 9-41.
Schumpeter, J. (1942). Creative destruction. Capitalism, socialism and democracy, 825, 82-85. Schumpter, J. (1934). The Theory of Economic. Development.
Shaheen, N., & Junaid, M. (2018). Learning Entrepreneurship: A Comparative Study of Inherited and Business Schools Graduates. Journal of Managerial Sciences, 12(2).
Sidney, M. S. (2017). Policy formulation: design and tools Handbook of public policy analysis
(pp. 105-114): Routledge.
Sobel, R. S. (2008). Testing Baumol: Institutional quality and the productivity of entrepreneurship. Journal of Business Venturing, 23(6), 641-655.
Thompson, J., Alvy, G., & Lees, A. (2000). Social entrepreneurship–a new look at the people and the potential. Management decision.
Ullah, H., Shah, B., Hassan, F., & Zaman, T. (2011). The impact of owner psychological factors on entrepreneurial orientation: Evidence from Khyber Pakhtunkhwa-Pakistan. International Journal of Education and Social Sciences, 1(1), 1-16.
Verheul, I., Wennekers, S., Audretsch, D., & Thurik, R. (2001). An eclectic theory of entrepreneurship: policies, institutions and culture: Tinbergen Institute Discussion Paper.
Welter, F. (2011). Contextualizing entrepreneurship—conceptual challenges and ways forward.
Entrepreneurship theory and Practice, 35(1), 165-184.
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