Determinants of key favorable environment for entrepreneurship development: An empirical study of some selected companies in Bangladesh

Abstract

The global economy is creating substantial changes for organizations and industries throughout the
world. These changes make it necessary for business firms to carefully examine their purposes and to
devote a great deal of attention to selecting strategies. These strategies are in pursuit of the levels of
success that have a high probability of satisfying multiple stakeholders. In response to hyperglobalized changing economic environment, many established companies have restructured their
operations in fundamental and meaningful ways. These research gaps induce the authors to undertake
the present study. For primary data some companies were selected randomly in Chittagong,

Bangladesh with the sample size of forty. Sophisticated statistical model Principal Component
Analysis (PCA) was used for secondary and primary data. The study has identified four key favourable
environments for entrepreneurship development. According to mean value, the dominant factors are:
(1) Technically skilled labour force (2) Layout of the organizations (3) Knowledge of the market and (4)
Availability of secrecy.