As global frontiers of innovation, countries leading the way in entrepreneurship are responsible for forging a new understanding of the role of business in society, one that considers the impact of cultural values on driving and maintaining dynamic forms of economic growth. This thesis will examine the role cultural factors play in creating a flourishing entrepreneurial environment and how they define the relationship between business and society while influencing expectations of social responsibility. It also explores whether certain social environments are more conducive to entrepreneurship, and as such what role entrepreneurs play in those societies to encourage economic development and innovation. Utilizing data obtained from the Global Entrepreneurship Monitor and the research of Geert Hofstede, traits associated with traditional entrepreneurship theory will be aligned with corresponding cultural dimensions. Traits associated with social responsibility will then be connected to their corresponding dimensions to determine their impact on new business activity, and to demonstrate that these countries may be more predisposed to practice stakeholder management. The case study will also include an examination of Hungary and what the research findings mean for countries with cultural dimensions reflecting traditional entrepreneurship theory rather than stakeholder theory, and provide recommendations as to how each cultural dimension can be adapted to improve stakeholder engagement with actors in both government and society. The thesis will demonstrate that today’s entrepreneurs are driven as much by the desire for affiliation as they are by the need for achievement, and undertaking an effective stakeholder strategy is the best way to fulfill that affiliation, thereby improving the entrepreneurial environment, encouraging innovation, and creating a strategy for entrepreneurs to be socially responsible.
|School:||The American University of Paris (France)|
|Source:||MAI 58/05M(E), Masters Abstracts International|
|Subjects:||Entrepreneurship, Social psychology, Economics|
|Keywords:||Corporate social responsibility, Culture, Entrepreneurship, Innovation, Social capital, Stakeholder management, Sustainability, Trust|
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