South-Asian Way of Taking Entrepreneurial Risk

Abstract

This paper attempts to address the context sensitive paradox by examining entrepreneurial risk (ER) through the lens of social, cultural, political and economic and decision making. Entrepreneurial social reality of risk taking and management requires the fundamental philosophy of subjectivism and utilizes qualitative inductive case study method. The research data indicate that entrepreneurs do indeed use their social wisdom and cultural understanding more in their decision making. These findings provide a new perspective for understanding how entrepreneurs deal with the unjustifiable amount of risk associated with the complexity of indigenous society and culture in the South Asian context, which challenges the western ideologies and practices of ER.