GOVERNMENT, ENTREPRENEURSHIP AND SOCIETY: A TRIPARTITE MODEL FOR ACHIEVING ENTREPRENEURIAL SUCCESS

Abstract

 The tripartite model of government, entrepreneurship and society offers a comprehensive framework for understanding the complex and dynamic interactions that drive entrepreneurial success. To explore this phenomenon, this study aims to examine the ecosystem of government, entrepreneurship and society in responding to the complexity of the interconnection mix of the tripartite model that influence the success of new ventures. It is a theoretical research study that adopted qualitative and phenomenological methods through the exploration review of extant literature. It focused on the symbiotic interaction among the Government-EntrepreneurshipSociety institutional actors, the influence of each of the actors on the others and the models that explains the interconnectedness of the tripartite actors on entrepreneurial success. The results of the study reveal that the interrelationship among the three actors is complex and by interdependence and interconnectedness, activities and actions of each actor affect the others and entrepreneurial success is determined by the direction of their interactions. The study concludes that the institutional actors through regulatory quality, government and market support and social norms are fundamental input variables that drive entrepreneurial success. The study recommends a supportive, stable and well-coordinated institutional environment that enables entrepreneurs to access resources, reduce uncertainty and achieve higher rates of success; carrying out empirical studies of the dynamics of GES-institutional players in Nigeria using quantitative approach; recommends comparative studies of the subject across different market economies to capture unique patterns of interaction among the tripartite institutional bodies in diverse environments; ensuring collaborative partnership and efforts of the tripartite actors to foster positive relationship; promoting inclusive stakeholders’ participation policy framework for entrepreneurship growth and socioeconomic progress; conducting educational programmes that can promote understanding of the interrelationships among the three institutional actors and prepare future leaders to effectively navigate along these heterogeneities.