Role of Entrepreneurs in Society

In Mexico as in many other countries, they appreciate entrepreneurs because they are considered as people who were willing to take risks in order to have a successful project. (Observatorio Nacional del Emprendedor, 2015) To develop the social recognition among the Mexican society, then they have to overcome the strict social traditions and cultural values that may decrease the opportunities for entrepreneurship. (Vargas, 2012)

Businessman and businesswoman armwrestling

The Global Entrepreneurship Monitor assesses the values and perceptions through how the people perceive entrepreneurship as a good career choice and if they consider that entrepreneurs receive a high status in society. Even that the societal attitudes and perceptions are not a main part of the entrepreneurial process, they are an important factor for creating an entrepreneurial culture. When entrepreneurs decide to act, they do it among the circumstances where they live. They are surrounded by a specific culture and social conditions that lately it affects positively or negatively their entrepreneurial ambitions and their potential (Global Entrepreneurship Research Association, 2017).

Entrepreneurs have a Strong image in Society

A solid fostering of the entrepreneurship culture includes the strengthening of the entrepreneurs’ image in the society. The success stories of the entrepreneurs, the failures that they might have overcome, could be sparks that can light up the entrepreneurial spirit in the population. Collaboration between entrepreneur’s networks and civil society cooperate to the development of this culture. Also, it is important to elevate the promotion of entrepreneurship as a career option, where this path is taken as a will to innovate and not as a necessity. Therefore, the flow of information between private and public entrepreneurial programs can give an impulse to the population (Observatorio Nacional del Emprendedor, 2015). 

When youth is exposed to success stories that might motivate them, then a change of mindset could happen on the individuals. The citizen participation is key to be added in the cultural and social norms of a country to impulse entrepreneurial activity (Amorós & Villegas, 2017). The culture that has more entrepreneurial values, behaviors and way of thinking creates more individuals that show psychological traits towards entrepreneurship. Within this environment, more people will try to start a business. When there is a high value on the perception of entrepreneurs in society, individuals show a positive attitude and the intentions to become one (Fernández & Romero, 2014).

Role of Entrepreneurs in Society 1
Entrepreneurial Process Stages

Entrepreneurs become a source of inspiration

The entrepreneur social image reflects the status that they have in the society. The perception that entrepreneurs have about the support of their family and friends, is the reflection of how the cultural environment is moving around them. A positive attitude that is given to entrepreneurship would lead to a cultural support, but also to a financial one, as well as the networking opportunities that it will create for the ones interested in starting a business. A region that has a highly accepted entrepreneurship will encourage their community to recognize and act to develop business opportunities. As there are more entrepreneurs, a higher exposure to this topic could be created, therefore an alternative to a traditional job is accepted. When entrepreneurs manage to succeed, and overcome the challenges that other established firms set, then they become an example for other individuals to follow the same way (Goma & Martínez, 2017).

Role models have an impact on individuals’ decision to start a business. Role models can support entrepreneurs on their lack of experience and that they can have different functions (Bostma et al. 2012 as cited in Röhl, 2016).

Example function:

Successful entrepreneurs could be emulated by the new entrepreneurs by basing on their process.

Entrepreneurial confidence

Role models act push entrepreneurs to believe in their own abilities. They support them on their self-efficacy, which means their expectation to be capable of have success in business thanks to their skills.

Support function:

Successful entrepreneurs share their experience and knowledge and event turning themselves into business angles and source of financing.

Role models that are from the person’s social environment can have a more significant role on him to start their own business. A relationship between role model and entrepreneur can also compensate the lack of experience

References

Amorós, J. & Villegas, A., 2017. Entrepreneurial Ecosystem: Experts’ Perspectives of Mexico. XXII Congreso Internacional de Contaduría, Administración e Informática.Fernández, J. & Romero, I., 2014. About the interactive influence of culture and regulatory barriers on entrepreneurial activity.. International Entrepreneurship Magazine Journal.Global Entrepreneurship Research Association, 2017. Global Entrepreneurship Monitor: Global Report 2016/17, s.l.: s.n.Goma, E. & Martínez, P., 2017. Assessing Local Entrepreneurial Ecosystems in Mexico: The Case of San Luis Potosí. United States Association for Small Business and Entrepreneurship.Observatorio Nacional del Emprendedor, 2015. Construcción, generación, y análisis de indicadores para medir el estado y la evolución del ecosistema emprendedor.. s.l.:INADEM.Röhl, K., 2016. Entrepreneurial culture and start-ups. Could a cultural shift in favour of entrepreneurship lead to move innovative start-ups?, Cologne: Cologne Institute for Economic Research.Vargas, J., 2012. Government Public Policy of Mexico and Entrepreneurship, What can Mexican Government do for Enhacing Entrepreneurship in Mexico?Global Journal of Management and Business Research.
Scroll to Top