The Entrepreneurship Of Emerging Economy Essay

The Entrepreneurship Of Emerging Economy Essay

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Distinctiveness of entrepreneurship in emerging economy
Among limited numbers of research on emerging economy entrepreneurship, some have provided the framework of identifying the distinctiveness of entrepreneurship in emerging economy including the uniqueness of venture formation, finance source, human capital. Lingelbach, Vina, and Asel (2005) identified three key distinctions of entrepreneurship in developing countries including opportunity, financial resources, and apprenticeship and human resources. More specifically, their research indicates that entrepreneurs in developing countries or emerging economies tend to have more opportunities and broader scope of business. Because emerging economies lack mature market structure and consistent regulations, entrepreneurial opportunities or chance of starting a new business are more pervasive comparing with those in well-developed western economies. More interestingly, entrepreneurs in emerging market are more likely to initiate their business downstream with direct access to end customers since inadequate access to capital and inefficient and fragmented distribution channel. This bottom up entrepreneurial development model has created more interlocking business conglomerates in emerging economy. When comes to financial resources, differ from entrepreneurs in developed countries who mostly relay on stable external funding including venture capital, bank loan and private equities, entrepreneurs in emerging markets start their business with more informal financial sources which provide between 87% to 100% of the capital raised by entrepreneurs(Bygrave, 2003). Since start-up capital requirements are relative modest in emerging economy (Bhide, 2004), it is quite possible that entrep...


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...eneurship research in emerging economy and most of them are subject to change or need further materialization. I believe with more systematic studies in strategic management at PhD level and deeper research on entrepreneurship in emerging economy, I will be able to create more valuable knowledge in the field of management and international entrepreneurship. Bentley’s PhD program provides candidates the great opportunity to work with and learn from such well-respected scholars in the field of entrepreneurship as Professor Tatiana Manolova. Her remarkable research work on international entrepreneurship especially the institutional context of entrepreneurship in emerging economy, new firm creation process and competitive advantages of new and small firms has made her the leading force within this field and with her guidance I know that I will succeed in this program.

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