Lesson 2 Flashcards
CONTRIBUTIONS OF ENTREPRENEURSHIP TO THE ECONOMY AND SOCIETY
Create employment
Develop new markets
Introduces innovation
Generates new sources of materials
Stimulates investment interest in the new business ventures being created
Improves the quality of life
Serves as role models
Brings social benefits to the people
Utilizes and mobilizes indigenous resources
Provides more alternatives for consumers
EXAMPLES OF ENTREPRENEURSHIP IN 10 COUNTRIES
United States
China
Singapore
Canada
India
Taiwan
Hongkong
Thailand
Malaysia
South Korea
noted to be one of the friendliest countries for entrepreneurs, home to Apple, Google, Starbucks, Walmart and Walt Disney
United States
home to budding entrepreneurs who manufacture different products that range from toys, gadgets, electronics and cars; a lot of products have generic brand names
China
literally a small country that controls a significant portion of the economy in Asia, home to entrepreneurs who innovate on existing services for local and international use.
Singapore
entrepreneurs here are exploring opportunities over the internet such as the people from a region called Sanikiluag, known for their wood carving skills and entrepreneurs are selling their products online.
Canada
one of the countries in the Asia Pacific rim with a strong base of entrepreneur organizations led by the youth and women.
India
entrepreneurship here is encouraged through the small and medium enterprise incubation centers for the purpose of nurturing young firms, new products and technologies.
*** incubators – provide space, facilities, hands on management assistance and access to technologies and financing to clients, helping them to survive and grow during the start- up period.
Taiwan
with the knowledge based economy, it utilizes its human resources to make its economy the best possible through entrepreneurship such as activities related to tourism and agricultural exports which receives strong support from government and private sector.
Hongkong
the extent of government support to entrepreneurs is very evident, in its international airport in Bangkok, a huge section is subsidized by the Bureau of Small and Medium Enterprises for the promotion of local products. Tourism for the international markets and agricultural exports are two major sources of income of Thai entrepreneurs.
Thailand
this country is becoming friendlier to entrepreneurs which is apparent in the growing numbers of businesses which decided to locate here.
Malaysia
it emerged from the Asian financial crisis better than any other country in the region, home to Samsung and Kia.
South Korea
FACTORS THAT INFLUENCE THE FRIENDLINESS OF A COUNTRY TO ENTREPRENEURS
Employment regulations
Bankruptcy laws
Tax policies of a country
Skills are better than theoretical knowledge of things, thus giving one an edge of the others if one possesses the skills of innovation. The entrepreneurs always wanting to befriend with other countries so as to expand its horizon.
