Critical Variables Influencing External Impact on Entrepreneurship: Identification, Modeling and Use to Predict the Potential of an Aspiring

Abstract

Government Support, National/ International Laws, Accessibility of External or Natural Resource for Business, Lending by Bank/ Financial Institutions, Shareholder's Faith, Environmental/ Societal Role on business etc. have got a great impact on entrepreneurship development. Quality Guru, Dr. Edward Deming says, "Our transformation of Management and Government relations with Industry can halt decline." He further says, "The wealth of a nation depends on its people, management and Government, more than its natural resources." External issues pertaining to entrepreneurship bind an entrepreneur to be national in all perspective. He, apart from is being focused to his own stake through customer satisfaction, is required to be sensitive to the Government and society by protecting laws and regulations, creation of employment, triggering wealth generation in chain reaction to suppliers, employees, and government through taxes, duties etc., and technology collaborators. An entrepreneur has to handle the external issues with great foresight, caution, sensitivity, patience, accuracy to become successful. The study systematically progressed through identification of all possible issues and stratification criteria, developing questionnaire, identifying indices for measuring performance level, designing a survey, collecting data, developing representative index of external impact, analyzing stratification criteria on representative index, identifying critical variables to influence representative index using partial multiple regression and multiple linear regression model, setting target for potential entrepreneurship with respect to potential entrepreneurs, use the model to evaluate the potential of an aspiring entrepreneur with respect to external impact, identifying the gaps of the aspiring or growing entrepreneur against long-standing successful entrepreneurs so that the aspiring or growing entrepreneurs recognize the importance of the external issues and accordingly address these issues in their business.