ENTREPRENEURSHIP

Detailed explanation-1: -Informal networks are defined as based on trust relationships and used for seeking competitive advantage in business. We assess the costs of informal networks, including their non-monetary and monetary components, on the basis of in-depth interviews with entrepreneurs in small and medium-sized business in the region.

Detailed explanation-2: -Grapevine is an informal channel of business communication. It exists more at lower levels of organization. Grapevine generally develops due to various reasons.

Detailed explanation-3: -Social capital provides the relationships through which an entrepreneur receives opportunities to use human and financial capital. How an individual entrepreneur structures his or her network can determine the value of their social capital and thus their ability to act in an entrepreneurial manner.

Detailed explanation-4: -(a) Spontaneous Entrepreneurs: Spontaneous entrepreneurs are otherwise known as pure entrepreneurs, who are motivated by their desire for self-fulfilment and to achieve or prove their excellence in job performance.