59 research outputs found
Socio Cultural Impediments to Entrepreneurship: Implications for the Lao People's Democratic Republic
No full textThough cultural explanations as determinants of economic outcomes have mainly been ignored by researchers, national culture has been proven to have a direct and identifiable impact on the level of entrepreneurial behavior. Politically, Laos remains one the few communist countries in the world, but it too is transitioning to a market economy. In spite of being rich in natural resources, this small, landlocked nation remains a less developed country (LDC) and the poorest member of the Association of South East Asian Nations (ASEAN). The Lao culture embraces collectivism and the traditional values of Theravada Buddhism, a belief system which inherently functions against the fostering of entrepreneurial spirit. Removing impediments to entrepreneurship is a key challenge for the government. Using Laos as a case in point, this paper assesses the influence culture has on entrepreneurship and explores initiatives and measures that can be used to strengthen inherent cultural values that stimulate the entrepreneurial spirit, encourage risk-taking, and in turn promote economic development.
Research paper
Keywords: Entrepreneurship; Culture; Laos; ASEAN; Economic Development
Reference to this paper should be made as follows: Bhasin, B., & Ng, L. K. (2019). Socio Cultural Impediments to Entrepreneurship: Implications for the Lao People's Democratic Republic, Journal of Entrepreneurship, Business and Economics, 7(1), 64–9
Assessing and Mitigating Business Risks in India
No full textIndia, one of the world’s fastest-growing large economies, offers business and investment opportunities across a multitude of sectors. More and more companies around the world are eager to do business in India. This book details the challenges and risks involved as well as providing real suggestions for overcoming them. It begins by providing a background to understanding India and highlights the business environment in which the economic, legal, and cultural variances exist. Potential markets are then discussed, focusing on the sectors, regions, and cities where growth is taking place; the upper, middle, and lower income segments; Indian MNEs; public sector and state-owned companies, and family-owned enterprises. Throughout the book, the author examines the various pitfalls and obstacles that are frequently encountered when operating in India, including political uncertainty and intransigence, corruption, bureaucratic roadblocks, the web of litigation, protecting intellectual property, labor and human resources limitations, and India’s ubiquitous second economy. These not only increase risk and lead to costly delays on account of lengthy litigation and payment of bribes, aggravating frustration, but may also result in total loss of investments. The book concludes by providing keys to success, including guidelines for selecting partners and appointing agents, as well as negotiating techniques that work in India. It also includes a comprehensive list of web resources for further exploration, and to connect with government and private sector bodies
Foreign Direct Investment: Replacing The Contract Of Work System In Indonesia
No full textIndonesia created a novel system to administer Foreign Direct Investment (FDI) in mining. This Contract of Work (CoW) system served the country well from 1967 up to 1997 until the national political (democracy revolution) and economic (Asian Currency) crisis, coupled with the Busang fiasco (where large scale fraud in gold discovery claims caused billions in losses) led to total collapse and cessation of FDI in the countrys extraction industry. Since the stabilization of the political and economic framework in Indonesia after free elections in 1999, the government has attempted to create a new law to replace the CoW system which was finally passed in December 2008. This paper evaluates the new proposals and compares them to the previously successful system and suggests concerns and reforms that need be addressed. Specific focus is placed on issues of security of tenure, taxation and royalties, local government involvement, and environmental damage
Fostering entrepreneurship: Developing a risk-taking culture in singapore
No full textAbout 10 years ago the Singapore Government realized that entrepreneurial spirit was lacking in its general population. These conclusions were confirmed by an empirical survey, the Global Entrepreneurship Monitor (GEM), an annual assessment of the national level of entrepreneurial activity. The paternalistic and authoritative approach of the government contributed to the general population’s averseness to participating in riskoriented ventures.
Removing impediments to entrepreneurship is a key challenge for the government and the business sector if the island republic is to maintain its national competitiveness. This article explores the various initiatives taken by the government to stimulate risk-taking and attempts to ascertain if the various measures can be used as key factors to strengthen the inherent cultural values that stimulate the entrepreneurial spirit.The observations can serve as a useful tool for academics and managers in recognizing the cultural traits that influence and help foster entrepreneurial tendencies.</jats:p
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