Factors Influencing the Formation of Chinese and American Entrepreneurs Essay.
Factors Influencing the Formation of Chinese and American Entrepreneurs
Instructions:
After reviewing the issues presented in the article, structure an essay of persuasion and argument in which you either support or refute the main points of the information presented. Be sure to support your point of view with sound reasoning and examples.Strict APA formatting is not important here, but you should concentrate on presenting your work cleanly and professionally – focus on structure, clear thesis and topic sentences, paragraph construction.
Solution
Factors Influencing the Formation of Chinese and American Entrepreneurs
In their groundbreaking work titled ‘the ‘Factors influencing the formation of Chinese and American entrepreneurs’, and published in the Journal of Entrepreneurship and Public P[G1] olicy, Lewis, Wei, Hao, and Yong(2013) identified culture, economics, and policy as the main [G2] determinants of the entrepreneurial[G3] [G4] spirit in both China and the United States. They sought to establish the similarities and differences between American and Chinese entrepreneurs[G5] [G6] and how the above factors affected the formation of entrepreneurs[G7] [G8] in these countries.[G9] [G10] [G11] [G12] [G13]
Data collection for this study was done through questionnaires that comprised various aspects of the three main areas identified ie. Culture, economics, and policy.[G14] Elements of culture related to education, the level of trust, networking, rationality and motivation while economics related to [G15] availability and use of appropriate technology, available opportunities, credit facilities and ratings, and business success rates. Lastly, policy related to barriers[G16] to entry and business regulations. For maximum respondents, the questionnaire was written in both Mandarin and English and circulated both physically and online to both American and Chinese[G17] entrepreneurship[G18] volunteers. From the results of this study, the researchers concluded that culture was the most unifying factor, with a few differences in regard to economics. The researchers found that policy issues were the most relevant and presented the most significant shift in findings. Similarities in culture indicated that in both countries, entrepreneurs[G19] [G20] are the same in their nature, motivation and entrepreneurial[G21] [G22] behaviors. The slight variation in economics was as a result of the differences in economic models employed by the two countries where the US [G23] is traditionally a capitalist economy while china has largely been a communist regime. Elements of policy were the most divergent among the respondents, mostly because china has had long running communist ideologies as opposed to the United States that has primarily been a capitalist driven society. The communist regime had significantly stifled the entrepreneurship spirit in china as compared to the United States. In this paper, the author strongly agrees with the findings of this study.[G24] [G25] [G26] [G27] [G28] [G29] [G30]
According to Wang (2012) elements of culture often affect the aggregate measures of entrepreneurship, whether at the individual or corporate levels.[G31] This means that when an individual or corporation creates a business in a specific cultural environment, such business will most likely mirror the cultural values, beliefs, and practices in its strategic orientation and growth [G32] projections. He also noted that entrepreneurs have high similarities in their business motivation regardless of their geographical positioning due to the universal drive that drives all entrepreneurs such as the need for independence, needs for control and [G33] the need for increased income.
While both countries boast two of the strongest economies in the world indicating significant similarities in the economic factors affecting the formation of entrepreneurs[G34] in both countries, the differences in the economic regimes where the united states is free market oriented while china has primarily been a government owned economy have resulted in a slight difference in reaction to the economic factors. The recent economic developments in china have however significantly eroded the communist tag as we are now seeing a great establishment of Chinese entrepreneurs both at home and abroad ( Stefanovic, et al, 2010). Lastly, the huge differences in reaction to policy influence on entrepreneurial practice in both countries are anchored on their differences in economic policies, taxation regimes and barriers to entry.[G35]
This paper concurs with the findings of the article that there is very little research on entrepreneurship aspects between the two economic powerhouses, despite the growing relevance of these issues in modern business environments especially with the emergence of china as a global business leader and the changing business environment in which technological advancements have changed the way business is conducted.
References
Lewis, P. Wei, L Hao, Y and Yong, L (2013) Factors influencing the formation of Chinese and American entrepreneurs’ www.emeraldinsight.com/2045-2101.htm
Stefanovic, et al (2010) Motivational and success factors of entrepreneurs: the evidence from a developing country: https://www.efri.uniri.hr/sites/efri.hr/files/cr-collections/2/03_stefan)ovic_2010_2.pdf
Wang, R (2012) Chinese Culture and Its Potential Influence on Entrepreneurship. International Business Research; Vol. 5, No. 10;