ENTREPRENEURSHIP

Detailed explanation-1: -Sociologists argue that entrepreneurship is most likely to emerge under a specific social culture. According to them social sanctions, cultural values and role expectations are responsible for the emergence of entrepreneurship. Social-cultural values channel economic action that gives birth to entrepreneurship.

Detailed explanation-2: -The sociological approach to the study of entrepreneurship deals with social and cultural factors responsible for the nature and growth of entrepreneurship development in a society. It attempts to understand as to why a social structure and culture facilitates or inhibits entrepreneurial development.

Detailed explanation-3: -According to sociologists social sanctions, cultural values and role expectations are responsible for the emergence of entrepreneurship. Sociologists consider the entrepreneur as a role performer corresponding to the role expected by the society.

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: -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.