The Impact Of Ethnic Diversity On The Development Of An Entrepreneur

In the Immigrant and Minority Entrepreneurship book, the concept of “economic detour” is first introduced on page 20 in the text. The concept is initially introduced to try and explain the reasoning of why black entrepreneurship is lower than those of other groups. Additionally, there were different reasons that contributed to the low involvement within black entrepreneurship. Some of the limiting opportunities included violence, racial exclusion and the Jim Crow laws. Butler describes in the book that “no other minorities have had to go it alone” like the African Americans have had to (Butler, 20). Ultimately, there are many examples of how African Americans have faced this concept of economic detour and how their opportunities were limited

Although much research has been launched into women entrepreneurship and immigrant and minority entrepreneurship as separate topics, there does not seem to be much focus on entrepreneurs who fit into both categories, the ethnic female entrepreneur. This profile covers a woman of ethnic background who launches an organization to create innovative solutions for profit. Owing to the fact that they belong to two categories that face the most challenges in entrepreneurial pursuits, it is necessary to find out how their special circumstance acts as a barrier to their

Minority entrepreneurs have many barriers they have to overcome in order to be successful. Some typical problems they face are limited access to capital, lower equity investments, and less exposure to entrepreneurship. Minority entrepreneurs are twice as likely to be turned down for traditional lending, which can discourage them from even applying for a loan. Not only that but they are less likely to be considered by traditional or angel investors. They also generally live in run down areas, with poor schooling and less access to successful people. One entrepreneur who has hurdled over all the barriers and became extremely successful is Russell Simmons, the co-founder of Def Jam Records.

This question is posed to open a more balanced knowledge on the apparent differences in culture and socio-economic environment of countries, seeing that different business models are only applicable to certain environments. Furthermore, this would help explain the gender dimensions of the business environment and the broad constraints revolving around entrepreneurship that affect women more than men. An example can be seen between developed countries like the

“Diversity management is the key to growth in today’s fiercely competitive global marketplace”1. Diversity is to have a different people in the same organization and thin with the same group. We are not the same all of people have different ideas, culture and gender. Because now the word be closer like a small village and we should know how to deal with all of people with their own ideas, culture and things. In addition, each people have a specific ability in a specific experience, education and knowledge. So it is hard to get all of that talent from same country, area or zone. So the diversity will help the company to become better from the different talent and ability from each country, because the organization

A research on how the lack of minority diversity in business has affected the new wave of entrepreneurs in the U.S. expands ones range of interests and knowledge in the sense of understanding why minorities have decided to leave the business sector to become entrepreneurs. With racial discrimination, lack of access to capital and a mirage of other things, minorities will make up 56% of the U.S. population by 2030. With the new travel ban that President Donald Trump has implemented, this has hurt American business from a diversity standpoint and fiscally. My intentions for this research is to fully help the reader understanding where America is trying to go for the long term and it’s thought on minorities as a whole

In 5th grade, I taught the whole class about my culture. Since many kids were bored during class, I decided to “spice” things up to an extent. Numerous people did not know my true identity of diversity. I brought yoga videos, food, etc. just to teach uniqueness. One such example was the classic rock candy. I brought in rock candy, beautiful crystal candy encased with sugary sweetness that people ate. Their miniscule size was complimented by their immense taste. Initially, my classmates were a little skeptical, thinking “why is he bringing this in?” Once people in my class started to taste it, they could not stop wanting it. By the end of the year, instead of declining to accept the culture, they begged me to bring what I could to them so they could experience the culture I did. Small steps like this define the characteristics of an entrepreneur like

The boardrooms of some of the biggest companies are becoming more dominated by white people despite business secretary Vince Cable demanding that firms increase their ethnic diversity (Neate, 2014). All-white executive teams run 69% of Fortune 400 and 500 companies up from 65% in February. The diminished ethnic diversity in the boardroom has emerged despite Cable calling on companies to ensure their executive teams better reflect the wider population. “Black and ethnic minority representation on Fortune 400 and 500 boards is currently at around 5%, which is much lower than we would expect if the company boards reflected the population of this country,” he said. “I want us to extend the successful campaign we have led to increase female representation

A lot of African-Americans find themselves dabbling into the entrepreneurship world. As aspiring business owners, many learn their lessons late in life. Often times, we only find out about these lessons through our own experiences and mistakes along the way.

Its developmental and transformative qualities particularly on emerging global economies, has given great significance to the concept of entrepreneurship. The impact of entrepreneurship has more contributory value is most The concept of entrepreneurship has received significant global attention across the developed and developing countries due to its capacity to transform the economy (Le & Nguyen, 2009:867). The Global Entrepreneurship Monitor (2011:8) revealed that there are approximately 400 million entrepreneurs across 54 countries operating start-up businesses. These countries are grouped into three stages of economic development driven by: factor, efficiency and innovation (GEM, 2009:5). This is based on the level of

Although many have made claims to the contrary, no one would purposely choose to compete in a race in which they are blindfolded and their hands tied behind their back. The odds of winning would be nil to none. Figuratively speaking, African Americans embark upon entrepreneurship with the burden of being blindfolded with both hands tied behind their backs. According to House-Soremekun, “Consistently, throughout history, discriminatory practices, institutions, and legislation have restricted African American Entrepreneurs at every stage of business development” (2009); thus maintaining a steady 100-year self-employment gap between them and their white counterparts. Additionally, as a result of such barriers to entrepreneurship for African Americans, historical studies indicate that immigrant entrepreneurs achieve far more superior business success despite not being native to this country. Therefore, even though African American entrepreneurs have access to the same resources as other entrepreneurs from diverse backgrounds, African American business owners achieve less business success than their ethnic counterparts because of lack of support from their own community, lack of financial funding to support their business start-up, and lack of business skills need to execute business goals.

Immigrant entrepreneurship is a relatively new phenomenon that explores the setting up and managing of business by immigrants in their adoptive countries. Brush et al. (2010) note that immigrant entrepreneurship has become a type of growth sector because both the host and ethnic countries benefits from it. The driving factors of immigrant entrepreneurship are distinct from other forms of entrepreneurship because they accrue from necessity, and the need to survive in dismal employment situations. Bandyopadhyay et al. (2017) posits that immigrants are drawn to specific countries – mostly the Organization for Economic Co-operation and Development (OECD) countries – due to the push factors such as unemployment and lack of amenities in the home country and pull factors such as potential for employment and better service provision in the host country. However, these expectations may not always be met compelling the immigrant to look for other sources of income through entrepreneurship. Australia’s “Australian’s First” policy for job employment provides an apt example of natives receiving first priority in job selections (Karp, 2017). Hence, with economic insecurity and lack of employment opportunities, immigrants are forced to seek alternative income means such as self-employment. Zimmerman (2016) considers immigrant risk taking in unfamiliar territories with minimum resources as fulfilling the entrepreneurial characteristics. The difference, however, is that

There are studies that think of international entrepreneurship as more of a common marvel than young ventures entering international markets and slight interest is dedicated to the entrepreneurial behavior of organizations once they first enter into international markets. There is an inequality among the international business field and the entrepreneurship field, because of findings that exploit a theoretic outline, many use an outline from the international business theory to hold down their study, while outlines from the entrepreneurship domain are nearly nonexistent. Traditional entrepreneurship research is mainly absent in international entrepreneurship. While scholars recognize that continual internationalization is a progression about manipulating the chance recognized at the moment, slight consideration has been dedicated to the opportunity component of international entrepreneurship. Entrepreneurial culture inspires ideas, research and originality by regarding and looking for new plans, also associated to innovative products and market regions. An entrepreneurial culture enables the creation of necessary diversity and they recognize it as one of the main circumstances for the formation of new knowledge in

“It’s a small world,” is an expression that has been used for a long time to describe how connected the people of the world can be in spite of the vast geographical distance that might exist. This sense of connection is due, in part, to the actions that exist in the business sector and the globalization of business and industry. As organizations strive to remain competitive, many recognize the necessity of global outreach in order to sustain a strong presence throughout the world. There are many opportunities and challenges facing businesses with an eye toward global outreach.

Recent research in cultural and social psychology also have indicated the need for cross-cultural studies by demonstrating that differences in cultural orientation influence perceptions (e.g., Markus & Kitayama, 1991) and behaviors (e.g., Triandis, 1989). As most research on entrepreneurship is based on theoretical frameworks developed using data from Western cultures, little is known about the relevance of these frameworks in diverse cultural