entrepreneurial activities, and, most significantly, those factors which contribute to a uniquely Asian approach to entrepreneurship.
In international business circles, entrepreneurship is understood as a major force that is driving globalization, ensuring the flow of goods and services across national borders, and assisting the emerging markets in reaching their potential (Supervision, 6). More significantly, Supervision (6) reported that "the entrepreneurial spirit of U.S. companies is the envy of global business leaders, according to a study of 50 global companies undergoing change and transformation."
As the editors of Supervision (6) put it, entrepreneurial firms accept transformation as a comprehensive, ongoing process and see it as an inherent part of their organization and strategy. Entrepreneurial firms, regardless of their size or sector, tend to be optimistic about their abilities to meet business challenges with innovative products, processes, and services in order to retain a competitive edge. American firms and executives exhibit these qualities, in contrast to many European and Asian businesses which regard transformation in practical and somewhat narrower terms. Unlike American entrepreneurial firms, these businesses focus on operational issues (e.g., quality improvement, customer service, and employee empowerment). Firms rooted in other cultures express concern about class structure, hierarchy, respect for authority, and the strength of unions - and see these elements as impediments to developing rapid responses to changing markets (Supervision, 7).
William J. McDonald (44) believes that entrepreneurs are confronted with numerous challenges as they go global and/or penetrate new markets. Central among these challenges is the fact that many economies are already in recession or experiencing serious trouble. As the 1990s ended, emerging world markets were experiencing low rates of growth reaching lev...