Open Access Subscription Access
Open Access Subscription Access
System Dynamic Modeling on Entrepreneurs Role in Economic Growth
The use of System Dynamics Modeling in economic growth of India has recently re-developed after a long period. Present research based on System Dynamics Modeling in economic growth of India emphases on qualities of entrepreneurs, visionary, risk taker, innovator and who have good business acumen. Entrepreneurs are the persons who not only create the innovation of new products and established new venture by undertaking business and financial risk. They play an important role in the development of service, industrial and agricultural sector. Entrepreneurs aid in improving the economic growth of the country directly or indirectly such as reducing un-employment, increasing in purchasing power etc. High living standard of the people is a specific feature of economic development of the country. Entrepreneurs are a person who plays an important role in improving the living standard of the people by providing employments, latest innovation of goods and services, supporting facilities for society. An economic activity is constantly related with production and consumption of goods and services within the society. Thus, the impact of existing economic activities, inflation, new policies, technological changes were directly affect business organization. The System Dynamic Model shows the connectivity of entrepreneurship with creative ideas, employment generation to increase in national income, and reducing poverty of the country. As a result, the entrepreneurs play vital role in contributing Indian economy.
Entrepreneurs, Economic Growth and Development, System Dynamic Modeling and Industrial Development.
- Ardichvili, A., Cardozo, R., and Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing, 18, 105–123.
- Borch, O. J., Huse, M., and Senneseth, K. (1999). Resource configuration, competitive strategies, and corporate entrepreneurship: An empirical examination of small firms. Entrepreneurship Theory and Practice, 24(1), 49–70.
- Coyle, J. M., Exelby, D., and Holt, J. (1999). System dynamics in defense analysis: Some case studies. Journal of the Operational Research Society, 50, 372–382.
- Ganotakis, P., and Love, J. H. (2012). The innovation value chain in new technology-based firms: Evidence from the U.K. Journal of Product Innovation Management, 29(5), 839– 860.
- INDIRA KUMARI., (2014), A Study on Entrepreneurship Development Process in India. Indian Journal of Research Volume : 3 | Issue : 4
- Malyadri. G., (2014), Role of women Entrepreneurs in the Economic Development of India. Indian Journal of Research Volume : 3 | Issue : 3
- Suresh Mallya., (2011), Successful Entrepreneurs of Indian Origin: A Case Study.
- Santhi. N., and S. Rajesh Kumar., (2011), Entrepreneurship Challenges and Opportunities in India. Bonfring International Journal of Industrial Engineering and Management Science, Vol. 1
- T. Swetha; Dr .K. VenugopalRao, (2013), Entrepreneurship in India. International Journal of Social Science and Interdisciplinary Research IJSSIR, Vol. 2 (7)
- Yusuf. Albanawi. (2016), The Role of Entrepreneurship in Economic Development in Saudi Arabia. Business and Economics Journal 10.4172/2151-6219.1000204
Abstract Views: 10
PDF Views: 0