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Abstract

The ‘entrepreneur’ deserves to be re-conceptualized in view of the emerging trends associated with liberalization and globalization. What we have discussed in this article are pointers to an emerging paradigm shift in the concept of entrepreneurship in consonance with the different challenges/opportunities of globalization and liberalization. An eclectic paradigm, psychic pressure of potential competition (contestable market) at the global level, the issues in getting rid of path dependency, particularly of the backlog of licence/control regime, the aspects of getting to play ‘strategically’ with big competitors such as multi-national corporations (MNCs) (through collaborations) and, above all, the market character meshed up in the ‘institutional’ parameters that condition entrepreneurial efficiency are some of the constituent elements that need to be incorporated in the newer concept of entrepreneurship.

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A New Paradigm of Entrepreneurship vis-à-vis Liberalization and Globalization

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