Entrepreneurial Spirit Among East Asian Chinese

Entrepreneurship is a term that has reentered the public vernacular over the last few years, many times in reference to what is wrong with America but what it means is rarely defined. Furthermore, it is generally agreed that more Entrepreneurship is a desirable trait but how to go about encouraging it is again a point of contention. This paper will address a specific facet of entrepreneurship and attempt to discover what are the key drivers to foster an entrepreneurial spirit from childhood.

Entrepreneurial spirit is the implantation for creative inspiration. Tomorrow’s innovation and future economy are the key factors of successful entrepreneurship. By working hard you can gain physical capital to create a new idea or product for the market. A successful entrepreneur always improves his or her service to give the customer what they want. An ambitious entrepreneur must have leadership skills and mind set for innovation. Important sign of entrepreneurial spirit are to calculate risk-taking and engage in

Entrepreneurship is America’s defining cultural characteristic. Consider the college dropouts that sat in a garage trying to develop inexpensive and better ways for Americans to connect, communicate and move data - think Steve Jobs and Steve Wozniak and of course, Apple Computer. Or consider another college dropout that conceived an idea to connect millions of people through his interpersonal software application called Facebook – think Mark Zuckerberg.

Entrepreneurship is the activity of creating a new business or enterprise. It is an essential and significant action in the growing job market (Bednarzik, 2000). Entrepreneurship has become important to all the countries whether they developed or developing ones. It is a basis of economic growth and employment creation (Thurik, Carree, Van Stel, Audretsch, 2008). It involves opportunity recognition or creation, collecting resources to track the opportunity, and managing actions that bring a new venture into existence. Some ventures are complete start-ups, while other ventures are pursued within an existing organization (Enz and Harrison, 2010). Entrepreneurs accept the personal financial risks that drive with having their own business. On the other hand, entrepreneurs benefit directly from the

In poor or developing countries people are more entrepreneurial than in developed countries out of necessity. In those countries, people have a constant need to earn a little more than what they earn from their regular employment. However, in the developed countries like the U.S., UK, and other industrialized European countries, entrepreneurs pursue business by choice. This is the reason why most of the largest enterprises come out of these

Baum and Locke (2004) literature review also used secondary headings to separate theoretical issues, existing research and methods. The empirical research article, discussed the relationship of entrepreneurial traits, skills, and motivation and the relationship to growth. The article was organized, and presented previous research. Studies on entrepreneurs’ traits, skills, and motivation the relationship to venture growth were introduced. The correlation between traits and skills among entrepreneurs’ was also

Entrepreneurship is related with the capability of recognition and evaluation of opportunities, allocation of resources and growth. Moreover, entrepreneurship has been taken as an organisational notion that contains three magnitudes: Modernisation, Bear risks and Practical alignment. It has been confirmed that the companies that were engaged in entrepreneurial activities are now most successful and efficient.

Entrepreneurial leadership qualities are essential in order attain success. During different phases of life, I discovered a number of entrepreneurial characteristics within me that helped me to move forward towards my aim. Going through the literatures I have learned a number of entrepreneurial leadership qualities mentioned by qualified authors. In this paper I have mentioned some of the qualities that I have discovered within me. In this paper I have mentioned

Entrepreneurs are a very, or perhaps the most, important boost in our economy. They do not only take the risk for the sake of a business, but also they provide our economy with employment opportunities and culture. A society can only be prosperous only when it rewards and encourages entrepreneurial activity because in fact, it is the entrepreneurs and their activities that are the critical factor for success, prosperity, growth and opportunity in any given economy. Entrepreneurship is not easy and it comes with its own risks and up and downs. On the last decade, entrepreneurship has rose and expanded, with this change and constant expansion, it has changed the rules of entrepreneurship once again. But I certainly believe that

Entrepreneurship is difficult to define throughout its history research. Even nowadays, this concept is still a debatable point (Rajendra, et al., 2017). Based on four decades of research, Gartner (1988) concludes that entrepreneurs are founders of new firms. Shane and Venkataraman (2000) consider entrepreneurship as “a new venture’s risk-taking endeavor seeking an opportunity” and Fortunato (2014) adds innovative value into the concept of entrepreneurship. Thus, research on the definition of entrepreneurship continue. According to those diverse views, I will interpret six unique entrepreneurial characteristics and theoretically analyze each one. Risk taker, need for achievement and proactivity as my strengthens will be illustrated with my experience. Innovativeness, internal locus of control and tolerance for ambiguity are my weaknesses, thus I will describe relevant successful Entrepreneurs’ experiences.

Though I have not engaged in an enterprise or enterprise related activity earlier, I found certain entrepreneurial characteristics inside me. For an instance, the decision making ability under uncertainty can be shown. Studying in UK was a decision taken under an uncertainty following few sacrifices.

It is a well recognized factor that entrepreneurship and entrepreneurs are important drivers of economic growth, because they encourage employment , innovation and improve the GDP of the country. “Entrepreneurship” became the buzzword in India only in the early part of the new century. Traditionally Indian have a very strong culture of security in income, barring a few communities like Marwaris, Punjabis, Parsis and Sindhis most other communities prefer to have secure jobs and are risk averse. Most of the entrepreneurial ventures were from these communities. This has changed considerable of late and one hears of several success stories were the entrepreneurs are self-made

There has been extensive research conducted on the characteristics that successful entrepreneurs possess. These attributes vary widely across literature, however there are common key traits that are required to achieve any form of success. Frederick et al (2013) suggest entrepreneurs are risk takers, optimistic, have sound judgement and an ability to manage. While a review of literature relating to the psychology of an entrepreneur reveals a large variety of characteristics in a successful entrepreneur, these can be consolidated to a a few into only a few traits that are essential for a successful entrepreneur. Whilst taking into

With the increasing presence of globalisation and rapid emergence of new markets, entrepreneurship is becoming more prevalent. According to the Global Entrepreneurship Monitor (GEM), there is usually high Total Entrepreneurial Activity (TEA) in countries like Australia, Canada and United States, whereas there is low TEA in Norway and United Kingdom . Generally, entrepreneurship can be defined as “a purposeful activity to initiate, maintain and develop a profit-orientated business” . However, for one to succeed as an entrepreneur, they must go beyond the ‘norm’ and differentiate themselves from other competing entrepreneurs; this may be achieved by embracing both social and ethnic diversity. Social diversity refers to the different factors that set individuals apart in a society like gender, age or religion, whereas ethnic diversity looks at different ethnic groups and cultures . This report will first look at how ethnic diversity contributes to the development of an entrepreneur, and the limitations to this using Hofstede’s framework. It will also look at social diversity and entrepreneurship, particularly focusing on gender. Finally, the report will conclude whether social and ethnic diversity may be beneficial to entrepreneurship and development in general overall.

As much as entrepreneurial mindset is important for business success, it is also vital to understand the current level in each entrepreneurial community by identifying which factors are lacking that needs to be improved as a means to foster the success of entrepreneurs. The above statement relates with the fact that business success in the new economy is merely not a function of relevant skills; but requires people with entrepreneurial mindsets.