Examining success factors: Entrepreneurial approaches in mountainous regions of Pakistan

Abstract

Amongst the challenges faced by developing countries, one of the major challenges is the development of successful enterprises that not only helps its people but also contributes significantly in economic development of the country. This paper gauges the factors that contribute to the success of entrepreneurial activities. The focus is on the mountainous region, which faces many challenges. Ultimately, a framework of success has been proposed for consideration of policy makers. To measure the contribution of these factors a survey instrument has been used on a sample of 100 entrepreneurs in different sectors (mountainous region of Pakistan). The findings show the local perspective that entrepreneurs feel that these factors contribute significantly towards success. The eight factors used are advancement drive, achievement oriented, commitment, decision-making ability, managing risk, tenacity, networking, and optimism. Pakistan having a geographical importance in the region has the potential of growth and development, the unexplored natural resource, a trade route with China and potential trade route with Central Asian countries, diversified culture and tourism gives it an edge over other countries. The lack of effective policies and governance is the biggest problem Pakistan faces.