Literature Review of business change due to technology

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One cause of new business came from changes in technology. These technological opportunities are innovative and get away from existing enterprise. The change or improvement in technology is an essential source of entrepreneurial opportunity because it helps people or entrepreneurs to deal out with resources in different and efficient ways for quality output. (Casson, 1995). By the change or advancement in technology, the problem occurred because of markets that come into existence based on that innovation. This gap or problem is conceptually known as entrepreneurial opportunity. An entrepreneurial opportunity means deposit new thoughts, values, beliefs, events and procedures that leads to the creation of future goods and services. Entrepreneurial discovery or technological opportunity is a process of excess knowledge of ideas. One person may discover an opportunity and another may exploit it. The observed facts in east lead to the growth of entrepreneurship (Caves, 1998; Sutton, 1997). The young entrepreneurial firms play vital role causing technological innovations that helps increase in self-employment. We cannot measure the existence of opportunity. (Acs and Audretsch - 1989). Technological change has positive effect on entrepreneurship but the relationship between opportunity, changes and entrepreneurship cannot measure directly. Shane and Venkataraman (2000) and Venkataraman (1997) describes numerous ways for examine opportunity and their implementations on entrepreneurship. Schumpeter (1911) describes the entrepreneurs as innovators. Any type of innovation understood is beneficial for entrepreneurs but it does not only depend on them. The growth of fresh markets has explosion of professional innovators sometimes entrepreneurs. (Schumpeter, 1942). As explained by Wennekersand Thurik (1999) entrepreneurs act as innovators, take risks, responsible for managerial activities and grip the contemporary markets. Opportunity identification process identifies entrepreneur's personality traits, social networks, and prior knowledge as antecedents of entrepreneurial alertness to business opportunities. [Dubin's Theory Building, (second Ed.). Free Press, New York, 1978.] The effects of technological changes on different experience groups will therefore depend on the relationship between skill-bias and traditional effects.

Culture is a set of values and attitudes that differentiates people from one another. (Hofstede 1989). Group of people having mutual tribal similarities. They can also be shown as same intellectual skills developed by a group of people showing to a similar background (Geertz 1973; Reckwitz 2000; Schatzki and Natter 1996). (Tan 2002) explains that entrepreneurs linked and directs their plans according to the culture and environment. Interventions according to the norms and traditions encourage entrepreneurship (McGrath et al. 1992a), and collectively these cultural uniqueness help entrepreneurs to make tribal strategies (Hayton, George, and Zahra 2002; Holt 1997). Culture and traditions affect attitudes of entrepreneurs (Baskerville 2003) and this rareness differs entrepreneurs from other entrepreneurial activities (Busenitz and Lau 1996). Entrepreneurial activities are in continuous form. They influence the actions of entrepreneurs in the same way all the time. (Carroll and Mosakowski, 1987). Culture is an essential factor for home grown people (Anderson 1999; Anderson et al. 2004; Foley 2003; Hindle and Lansdowne 2005). It helps them in the creation of new culture based enterprise. (Ralston Holt, Terpstra & Kaicheng, 1999) stated that china has increasing marketplace globally. Because they innovate and merge according to the aspects of culture. (Carsrud & Johnson 1989) see the entrepreneurs that comes with the activities that exist in response to cultural conditions. (Hofstede, 1980: 70-71) defines the distance between cultures. In highly masculine dominating cultures, confidence and positive development is expected. National culture affects on the attitudes of entrepreneurs. Their activities and plans are according to the tendency of culture.(Geletkanycz, 1997; Mueller & Thomas, 2001). With the help of cultural values and belief data ( Davidsson and Wiklund 1997) studied the impact of an entrepreneurial culture on regional changes in formation rates of the new firms. Aldrich & Wiedenmayer (1993) put forward that other factors like economic, social, political environment may be affecting as to create or destroy entrepreneurship in a country. The environmental conditions help in entrepreneurial process (Carsrur and Johnson, 1989). National culture plays an important role in defining the level and position of entrepreneurial fir m (Lumpkin & Dess, 1996; Miller, 1983).

Cockburn, Henderson, and Stern (2000) delineate technology in business perspective as a tool of change in commercialization and business environment. With the initial point of technology, entrepreneurs use their knowledge about technical field to represent potential resources to overcome the behavior (Hsu and Lim, 2007). Reinganum (1983) states that technical innovation and hypothetical suggestion make difference in competitive innovation. Transfer of technology is enabled by fundamental role of patent right through proper evidence (Gans, Hsu, and Stern, 2008). Entrepreneurs focus on high-technology projects and use their personal and business links to taking place, and to create the conditions for growth (Dubini and Aldrich, 1991). The role of human support in shaping new technologies clearly speaks about the dimensions of technology (Raghu Garud, Peter Karnøe, 2003). Technology based on entrepreneurial opportunities is a complex task of examining dynamic factors, earlier knowledge and chances of problem solving. These estimations are response of opportunity recognition and entrepreneurial opportunity (Shane and Venkataraman, 2000). David H. Hsu (2008) relates the technology with three dimensions. These dimensions include limited technology, excess of knowledge and intellectual property which are still not in use of entrepreneurs. Entrepreneurs sometimes take risks on the input factors of these dimensions. The growth and development in every technology involves the variety of factors (Braun and Macdonald, 1982; Garud and Van de Ven, 1987; Karnøe,

1993; Aldrich, 1999) (Fig. 2). These factors contains matching effects which create and discover new ideas (Teece, 1987), those in established opportunities (Garud and Rappa, 1994)and to the customers offering acute inputs that leads to shaping the development paths. (Rosenberg, 1982; Von Hippel,1986; Kline and Pinch, 1996; Tripsas, 2001).

In this view it is not only the discovery of new opnenings by the openings by vigilent persons (Kirzner, 1997) or the speculation on future (Knight, 1971).so for the large parts of technological entreprenueral process there is a confusion for the particulars that may disclose (Raghu Garud, Peter Karnøe, 2003) the feedback is given by the users after thay have used the products and services that are an outcome of the technology. (Rosenberg, 1982; Von Hippel, 1986; Karnøe, 1993; Kline and Pinch, 1996; Tripsas, 2001).the technology entrepreneurship has many inter connected sides as it is not just about discovery or assumptions it also includes creativity which is an outcome of several emerging technological pathways. (Raghu Garud, Peter Karnøe, 2003)

By Pavitt (2001) innovation means the production that converted or transformed into new products or services for the short period. Mueller (2006b) presented that innovations in entrepreneurship make them superior. It is essential for start-up of entrepreneurship. Innovation increases growth rates and makes the gross value stronger. According to cf. Etzkowitz & klofsten (2005) the study of innovation means progress and development in economics, technology, sociology, design and environment. March (1991) give the view that if innovation is important, firms consider their long run profits with respect to innovations. Vesper (1993) stated that fruitful entrepreneurial innovations are because of individual's culture or social circumstances which assist them in efficient working and processing out of ideas for the development of entrepreneurship. Hans Hinterhuber (1992) explained his point of new that innovations or developments sometimes depends on the feelings, knowledge and experience of entrepreneur. With the help of these entrepreneurial innovation satisfied the market according to the needs. Bygrave 1994 describes that innovation not only positively affect the people. Society may also oppose it but entrepreneurship is about opportunity recognition. It is observed that young entrepreneurs mostly come with extra ordinarys and rare innovations (Geobel 1990, 87).

Shane (2000) observed the effects of past experiences or influncial factors that how an entrepreneur identify and take the opportunity. Entrepreneurial opportunity is defined by Casson (1982) and Shane and Venkatarman (2000) as creating or developing goods or services that contains uniqueness. Formation can be through adopting new method or changing raw material or the relationship of materials. Kirzner (1973, 1985, 1997) stated that opportunity occurs when there is lack of information or sources. By excluding all the possible substitutions entrepreneurial opportunities cannot be broken or misused by adjusting into new products (Baumol, 1993). If the activities done according to entrepreneurial opportunity is correct, it is beneficial but if the entrepreneur acted upon and is incorrect, it leads to loss (Casson 1982). By the process of exchange and interaction of opinions and cultural beliefs between entrepreneurs enhance the responsiveness of entrepreneurial opportunity (Arrow, 1974; Jovanovic, 1982). Entrepreneurs provide the platform and gather people from different trainings having different values and knowledge to have new galaxy of opportunity (Eisenhardt and Schoonhoven, 1990). They all have distinguish attitudes to interpret the opportunity (Beckman, 2006). Entrepreneurships always welcome the opportunities (Morgan 1991, 292). They merged ideas with respect to norms and traditions of the society. Entrepreneurs take advantage of low barriers, enter into the market or industry and enjoy the opportunity (Cohen & Levin, 1989).

According to Mark Casson (1990 XIII) entrepreneurship is an essential and just ignored issue, who could be called the re-experienced of the entrepreneurial charm. Entrepreneurship effects have been argued precisely the differences in value systems and cultural directions towards entrepreneurship (Illeris, 1986; Thomas and Mueller, 2000). Wennekers et al. (2005) have considered the relationship between a country's rate of entrepreneurial changing aspects as dignified by emerging entrepreneurship and its level of economic development, while using population growth, social security expenditures and two alternatives for cultural impacts as control variables and have found strong stratistical prove for a u-shaped relationship among a country's basic entrepreneurship rate and economic development level.

They also report a positive influence

of both cultural proxies on nascent entrepreneurship Controlling for economic, institutional

and demographic factors our newly developed measure of entrepreneurial culture is found

to be significantly and positively related to nascent entrepreneurship. This is in sharp contrast

with the four other existing measures proxying entrepreneurial culture for which we find insignificant

or counterintuitive results. Researchers have long realized that societies vary in their ability to create and

sustain entrepreneurial activity (Birley, 1987; McGrath, MacMillan, & Scheinberg,

1992). While various explanations have been offered to explain these societal

differences, an ever-growing body of literature posits that cultural differences between

nations are one of the primary determinants of a nation's level of economic and

entrepreneurial development (McGrath, MacMillan, Yang, & Tsai, 1992; Thomas &

Mueller, 2000). In an effort to stimulate research on this often-neglected topic, this study will assess

whether national culture plays a significant role in determining the level of risk-taking

and proactive firm behaviors displayed by Small-to-Medium Sized Enterprises (SMEs).

Conclusion

Entrepreneurship is becoming an important measure in political and educational programs in many countries around the world. Entrepreneurship is a complex and multidimensional event. This review attempts to navigate the focus towards entrepreneurship in which culture plays a substantial role. in a more open, more accessible and more widespread culture of innovative

entrepreneurship. We develop a perspective on technology entrepreneurship as involving agency that is distributed across different kinds of

actors. Each actor becomes involved with a technology, and, in the process, generates inputs that result in the transformation

of an emerging technological path. The results of this study indicate that national culture has an

important and identifiable impact on the willingness of entrepreneurial organizations to

engage in risk-taking and proactive firm behaviors.

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