The purpose of this study is to explore and understand the Marwari business community’s approach to Entrepreneurship.
The study adopts an ‘interpretivist’ paradigm to aid theory building within the subject domain of Entrepreneurship. The study leverages responsive interviewing and observation with an adaptation of ‘inquiry from inside’ approach to gain in-depth insights into the Marwari Entrepreneurship and socio-cultural context. A case study
method is used to generate data via a hermeneutic approach. An individual and crosscase analysis is undertaken against a set ‘criteria for analysis’ to allow theory building.
The study identifies ‘intangible’ elements of the Marwari socio-cultural system that have a ‘tangible’ influence on their approach to Entrepreneurship. The study emerges with a descriptive model of Marwari Entrepreneurship approach which is characterized
by a balance of Effectuation and Prediction in order to manage the effects of the sociocultural elements on Entrepreneurship.
The emerging descriptive model identifies unique elements such as the Marwari identity, Reputation, Legacy and Fear of failure which inform the Effectual and Prediction adoption within the Marwari approach to Entrepreneurship. The emerging descriptive model carries implications for further development of Effectuation theory
within Ethnic business community contexts by arguing that the unique socio-cultural elements of a community can influence Effectuation adoption and adaptation. The study also carries practitioner implication for Entrepreneurs with regards to quicker decisionmaking
process in an uncertain and competitive environment with limited availability of information. Further, the study carries implications for Western businesses seeking to develop International business ties in India by identifying factors that remain important for consideration when forging business ties with successful Indian family businesses. The study also carries implications for Policy makers by arguing that effective leveraging of the Indian business communities can drive regional
Entrepreneurship and Economic development. The study identifies key areas for future research on the Marwari business community by adopting Institutional theory lens,
Social capital perspective, Competitive Succession and Entrepreneurial Ecosystem framework. The study also presents a descriptive model of Marwari approach to Entrepreneurship which the author argues needs to be applied against other Indian
business communities such as Gujarati’s, Jain’s and Parsi’s.
|Date of Award
|Jonathan Deacon (Supervisor) & Paula Stephens (Supervisor)