📘 Theory of Charge | 📅 1958 | 👤 Frank W. Young
Frank W. Young proposed the Theory of Charge, which views entrepreneurship as a behavioral response to changes in the social structure.
🔄 Entrepreneurship as a Response to Social Change
According to this theory, individuals take on the “charge” of becoming entrepreneurs when they find themselves in new or unstructured social situations where the existing social norms are not sufficient to guide behavior.
👥 Role of Group Dynamics and Cultural Change
Young emphasized the importance of group dynamics and cultural change in shaping entrepreneurial behavior.
He argued that entrepreneurship often arises among:
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Marginal or minority groups
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Those experiencing disruption or loosening of traditional social roles
This environment encourages risk-taking and innovative behavior.