Local Entrepreneurial Ventures in India - Literature review Example

Local Entrepreneurship, therefore, plays an important role in new business creation however; such activity is mostly concentrated in highly developed regions. There are clearly certain factors that favor the creation of local Entrepreneurship which includes more open access to financing than non-locals, capital-intensive technology as well as the size of the firm itself. Research also indicates that the overall outcome of local Entrepreneurship also depends upon how society pays off to the entrepreneur.

(Lado & Vozikis, 1996).3 The destructive, as well as the constructive nature of the new business creation, largely depends upon how society responds. It has also been observed that local entrepreneurs in developing countries tend to be more productive. The use of technology by entrepreneurs to actually make a shift in the environment to create more business opportunities and hence create more success is often directly linked with the local entrepreneurs. This literature review will discuss and argue that the existing theories and research on Entrepreneurship, ICT and Mobile Internet Technologies, and Rural Development suggest that at a macro as well as the micro-level there is a correlation between local entrepreneurs offering localized technology solutions in rural areas of developing economies like North India and the success of the technology-based local entrepreneurial ventures and the overall economic development in these regions.

The literature review aims to establish that there are gaps in our knowledge that the existing research does not address in terms of the presence of the causal mechanism that is necessary to enable the local entrepreneur to offer technology solutions in rural areas to achieve the success of the local entrepreneurial venture. An Entrepreneur is considered someone who spots an opportunity and creates an organization to actually pursue such an opportunity.