The entrepreneurship development is mainly due to the entrepreneurial motivation. The motivation of entrepreneurs is influenced by the external as well as internal environmental factors. Though there is no research study which reveals the extent to which the entrepreneurs are motivated by these two environments it is found that the entrepreneurial motivation is due to the influence of both the external and internal environmental factors. The psychological behaviours of the entrepreneurs are also equal playing its role while motivating the entrepreneurs, which are also discussed here. This paper also helps entrepreneurs to identify the different business opportunities and growth of the existing business. A real entrepreneur is a person who generally motivated by intrinsic psychological and also economic rewards. He indigenously tries an entrepreneurial venture for his personal satisfaction in work, ego or status. This paper reviews the psychological literature on entrepreneurs. Assessment and generalizations for the entrepreneurs are risky since there is no specific population of entrepreneurs. Psychological characteristics: In the modem days a suitable entrepreneurial culture must be created by developing healthy work environment and modem attitude towards work giving social recognition etc. These factors will provide the psychological stimulus which in turn promotes innovation, inspiration, ethics and values which are essential for successful entrepreneurs. The irrational behaviours of the entrepreneurs are also playing a vital role while motivating the entrepreneurs.
Here in this paper, we discussed the necessity of entrepreneurial education for the entrepreneurship development. A most important part of the entrepreneurial environment is culture/values and education. Education should be accepted in this way that not only it is important for the young student rather it is also required for highly schooled adults. We discussed here the urgency of education to start a small business, in India. To start a new concept, launching a new product, develop the marketing strategies how proper knowledge is required. Vocational education, managerial training, economic awareness, political problems, social opportunities, etc. can help to grow faster of an Entrepreneurial development.
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