engleski

HOBBY CULTURE AS A SOURCE OF ENTERPRENEURSHIP - INNOVATION AND RISK MANAGEMENT

For economists, leisure time is most often the period in which people consume and spending is the main aspect of free time they are studying. However, leisure is the time in which people create. In this paper the emphasis has been put on the creative potential of free time, and in this connection, the idea of hobby culture development as a catalyst for entrepreneurship. The reason lies in the complementarity of the hobby culture and entrepreneurial culture. If we distinguish between innovation and entrepreneurial risk as the two fundamental theoretic determinants of the concept of entrepreneurship, we will see that hobby activity unobtrusively solves the underlying problem of encouraging the expansion of entrepreneurial behavior. The hobby itself hides the potential for mitigating risk aversion. The reason lies in an interesting phenomenon that deserves more attention, for the purposes of this paper we call it a phenomenon of double benefits ; hobbyists are often prepared to bear a serious financial loss, just to satisfy their interest. This tendency of general spending often turns into a tendency to capital spending, ie investment. The reason for this kind of behavior is hidden in the promise of double benefits. For a hobbyist, investment is not only a promise of future higher spending geared towards meeting its interests and needs, but it additionally meets the present need to deal with its hobby. There is also another effect of the hobbyist activity that contributes to the reduction of aversion to risk. A hobby in its essence is a game, the consequence of such pursuit of leisure is feelings of enthusiasm and optimism. Such is the effect of hobbies on the nature of things because the hobby is, among other things, a quest for pleasure. On the contrary, the fact is that the pessimistic social climate is one of the reasons for the insufficient development of the entrepreneurship. The active pursuit of leisure time in the form of hobbies also promotes creative behavior that creates a suitable climate for the emergence and development of innovations.

hobby culture ; entrepreneurship ; innovation ; risk management

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