Determinants of key favorable environment for entrepreneurship development: An empirical study of some selected companies in Bangladesh

M. D. Abu Taher¹, Mohammad Shahab Uddin ² and Mohammad Shamsuddoha³*

1Department of Management Studies, University of Chittagong, Bangladesh.

2Department of Management Studies, University of Chittagong, Chittagong, Bangladesh.

3Department of Marketing Studies and International Marketing, University of Chittagong. Bangladesh.

*Corresponding author. E-mail: mdsdoha@gmail.com.

Accepted 20 April, 2010

   Abstract

The global economy is creating substantial changes for organizations and industries throughout the world. These changes make it necessary for business firms to carefully examine their purposes and to devote a great deal of attention to selecting strategies. These strategies are in pursuit of the levels of success that have a high probability of satisfying multiple stakeholders. In response to hyper-globalized changing economic environment, many established companies have restructured their operations in fundamental and meaningful ways. These research gaps induce the authors to undertake the present study. For primary data some companies were selected randomly in Chittagong, Bangladesh with the sample size of forty. Sophisticated statistical model Principal Component Analysis (PCA) was used for secondary and primary data. The study has identified four key favourable environments for entrepreneurship development. According to mean value, the dominant factors are: (1) Technically skilled labour force (2) Layout of the organizations (3) Knowledge of the market and (4) Availability of secrecy.

Key words: Favorable environment, entrepreneurship development and global economy.