Extricate Future Investigation: A Study of Extant Literature in Entrepreneurship & Risk Taking

Abstract

The rationale of the research is to provide a review of literature and to streamline the concept of entrepreneurship and risk taking. Studies done by various researchers proved that entrepreneurs are more risk prone than other people. It is obligatory for an entrepreneur to be aware about the changes happening not only internally but also externally in the form of government policies, regulations, new acts, technological changes etc. Entrepreneur must have a third eye to scan opportunities and level of risk with organizational strengths and weaknesses. The paper endeavors to investigate the variables that would have impact over risk taking behavior of entrepreneurs; a field where little research has been found so far. The researchers review a series of publications on the theme entrepreneurship and risk taking. The extent of available literature reveals the under exploration of this construct; hence researchers are motivated to analyze the existing literature on this construct. The paper is based on secondary data with conceptual discussion. The study revealed that there are different types of risks associated with entrepreneurship and entrepreneurs are found to be more risk prone than non entrepreneurs. The result of this study will help in synthesizing the existing literature of entrepreneurship construct and risk taking behaviour of entrepreneurs and clarifying the scope of future research in this area. Investigation of the reviewed literature results in a conceptual talk of the variables of risk taking and entrepreneurship.