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Lecture 5 Causes of Entrepreneurial Revolution

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26 views11 pages

Lecture 5 Causes of Entrepreneurial Revolution

Uploaded by

laibakha987
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ENTREPRENEURSHIP

Credit Hour 2-0


www.tuf.edu.pk
unioffaisalabad

Causes of Entrepreneurial
Revolution

Dr. Muhammad Nafees


www.tuf.edu.pk
unioffaisalabad

Causes of Entrepreneurial Revolution


The entrepreneurial revolution is a shift in
societal, technological, and economic factors that
have led to a surge in entrepreneurship. Significant
factors responsible for this revolution will be
discussed.
www.tuf.edu.pk
unioffaisalabad

1. Technological Advancements
The rapid development of digital technologies,
such as the internet, mobile devices, and software,
has enabled entrepreneurs to create and scale
businesses more easily than ever before. This has
lowered barriers to entry and allowed small
businesses to compete with larger corporations.
www.tuf.edu.pk
unioffaisalabad

2. Globalization
Entrepreneurs now have access to global markets,
allowing for international trade, investment, and
collaboration. The global supply chain and digital
infrastructure have made it easier to source materials,
reach customers, and grow businesses worldwide.
www.tuf.edu.pk
unioffaisalabad

3. Startups and Venture Capital


The rise of the startup ecosystem* and the availability of
venture capital** have empowered entrepreneurs to turn
innovative ideas into scalable businesses. The success of
companies like Google, Facebook, Amazon, and Uber
exemplifies this revolution.
*The startup ecosystem refers to the network of individuals, organizations, and
resources that support the creation, growth, and success of startups. This
ecosystem typically includes entrepreneurs, investors, accelerators, incubators,
coworking spaces, and mentorship programs.
**Venture capital is money, technical, or managerial expertise provided by
investors to startup firms with long-term growth potential.
www.tuf.edu.pk
unioffaisalabad

4. Disruptive Innovation
Entrepreneurs are at the forefront of disruptive
innovation*, challenging traditional industries with
new business models, products, and services.
Disruptive innovations have transformed industries
such as transportation (e.g., ride-sharing), retail (e-
commerce), and finance (Cryptocurrency).
*Disruptive innovation refers to a process by which a new product,
service, or business model causes significant changes in a market or
industry by offering a more affordable, convenient, or accessible
solution.
www.tuf.edu.pk
unioffaisalabad

5. Social Entrepreneurship
Entrepreneurs are also addressing social and environmental
challenges through social entrepreneurship. These ventures aim
to create sustainable, positive social impact while remaining
financially viable (generating enough revenue to sustain their
operations). Examples include businesses that focus on clean
energy, education, and healthcare.
Entrepreneurs focus on maximizing profits, while social entrepreneurs
prioritize creating societal impact. Corporate social responsibility involves
businesses adopting ethical policies to benefit society without necessarily
being social ventures.
www.tuf.edu.pk
unioffaisalabad

6. Cultural Shift
Societies have increasingly embraced
entrepreneurship as a path to personal freedom,
financial independence, and societal change. There is
growing support for entrepreneurial education and
policies that encourage innovation, small business
growth, and risk-taking.
www.tuf.edu.pk
unioffaisalabad

7. Government and Policy Support


Many governments have implemented policies
and created environments that support
entrepreneurship through tax incentives, easier
access to capital, innovation hubs, and incubators.
www.tuf.edu.pk
unioffaisalabad

8. Entrepreneurial Mindset
The entrepreneurial revolution has also fostered an
entrepreneurial mindset, where individuals, even
within larger organizations, are encouraged to
innovate, take risks, and solve problems creatively.
This has led to the rise of intrapreneurship within
corporations.

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