BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Sociologists have argued that entrepreneurship is most likely to emerge under a specific social culture. They feel that social sanctions, cultural values and role expectations are responsible for the emergence of entrepreneurship. According to Cochran (1965) the entrepreneur represents society’s model personality.

Detailed explanation-2: -The sociological theory of entrepreneurship is a concept that proposes that secondary sources of entrepreneurship development are sociological factors. Some of the sociological factors include attitudes and values that impact the entrepreneurial supply in a community.

Detailed explanation-3: -3) Sociological Entrepreneurship theory Max Weber propounded the sociological entrepreneurship theory and stated that entrepreneurs should accept the system of a society for the development of themselves as well as their startup.

Detailed explanation-4: -Weber argues that entrepreneurs make production decisions under conditions of uncertainty, where the goals of action are subject to choice and where consumer wants can be formed through entrepreneurial action.

Detailed explanation-5: -Hoselitz’s sociocultural theory is based on the assumption that every individual is endowed with social and cultural power. According to him, entrepreneurs can be developed where society is well developed. Most of the entrepreneurs hail from a certain socio-economic class.