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Cultural Norms And Their Effect On Entrepreneurial Endeavors: Perspectives From Bangladesh

Author

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  • EMON KALYAN CHOWDHURY

    (CIU Business School, Chittagong Independent University, Chattogram, Bangladesh, India)

Abstract

This paper explores the effect of traditional practices and cultural norms on entrepreneurship and business success in Bangladesh. Using a constructive survey questionnaire, data was collected from 172 businesspersons. Factor analysis and regression analysis were employed to analyze the data. The findings highlight that traditional family structures, gender roles, social hierarchies and traditional business networks significantly influence entrepreneurship in Bangladesh. These factors can either enable or hinder entrepreneurial activities, access to resources and funding, and decision-making processes. The study also identifies challenges faced by entrepreneurs because of traditional practices and cultural norms, such as limited resources for female entrepreneurs and barriers to fair competition. Based on the findings, implications are drawn for policy development, programming within educational institutions and entrepreneurial practice.

Suggested Citation

  • Emon Kalyan Chowdhury, 2024. "Cultural Norms And Their Effect On Entrepreneurial Endeavors: Perspectives From Bangladesh," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 29(01), pages 1-24, March.
    • Handle: RePEc:wsi:jdexxx:v:29:y:2024:i:01:n:s1084946724500079
    DOI: 10.1142/S1084946724500079
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    Citations

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    Cited by:

    1. Chowdhury, Emon Kalyan, 2024. "Capital Market Governance in Bangladesh: A Cornerstone for Growth," MPRA Paper 121664, University Library of Munich, Germany, revised 04 May 2024.
    2. Hasan, Amena & Nahar, Kamrun & Akhter, Suraiya, 2024. "Cryptocurrency Scams: A Multi-Pronged Approach to Mitigating Risks Through Regulation, Enforcement, and Consumer Education," MPRA Paper 121215, University Library of Munich, Germany, revised 31 Jan 2024.
    3. Chowdhury, Emon Kalyan, 2024. "Dual Disruptions: An Evaluation of the Economic Fallout from the COVID-19 Pandemic and Russia-Ukraine Conflict on Bangladesh's Economy and Stock Market," MPRA Paper 120762, University Library of Munich, Germany, revised 18 Apr 2024.
    4. Khanam, Rifat Binte & Rabeya, Jannatul Ferdous & Hasan, Amena, 2024. "Building Trust, Fueling Growth: The Cornerstone Role of Capital Market Governance in Bangladesh," MPRA Paper 121449, University Library of Munich, Germany, revised 08 May 2024.
    5. Stasi, Federer & Pierro, Roberto & Shaturaev, Jakhongir, 2024. "The Financial Implications of Mandating Non-Financial Assurance," MPRA Paper 121883, University Library of Munich, Germany, revised 14 Jun 2024.

    More about this item

    Keywords

    Traditional practices; cultural norms; entrepreneurship; business success; Bangladesh; factor analysis;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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