emerging countries and enterpreneurship

Emerging economies such as China, South Africa, and Brazil have shown that there is prosperity in the growth of young professional and industrious entrepreneurs in the aforementioned countries. The goal of developing countries is to develop various industries that generate a variety of goods for the country’s economic development. Some main factors are critical to the growth of entrepreneurship in such a field. Entrepreneurial theory, a basic product model, and confidence are among these components.

Theories and entrepreneurship Entrepreneurs in these countries have received training on how to succeed in business. They are aware of the entrepreneurship ideas. First is the resource-based theory where these entrepreneurs utilize the available resources and turn them into finished products which can be consumed by the customers. They believe in stepping up capital growth in conducting their business activities.

Again, they have psychological drive and possess the need to achieve in business activity and this drives their business activities. With this self-driven psychology, the entrepreneurs have managed to exploit the available opportunities in their regions to establish business activities. For example, China has used the available human resource to process the material into finished products hence enhancing the economic growth of the nation. Moreover, it has utilized available opportunities in industrial sector to develop industries dealing with processing of material and manufacturing of electronics such as cars.

Entrepreneurship and product and model simplicity. Again, these countries have kept it simple. The countries design simple product and business models that make it easier for majority of the entrepreneur to understand and conduct business activities. They believe in Mycoskie that the easier you make the process of entrepreneurship, the likely it is for the knowledgeable to disseminate the information to others. The straight forwardness of their business model is that for every product someone purchases, another product will go to someone who is in need of them. It is so because many people have ventured into business and can clearly influence other people to purchase their products. The concept enables the customers to understand the outcome of their purchase and are not confused by other complex business models practiced in other countries. The simplicity is significant for these entrepreneur since most of the customers can easily understand the process of operation of different products. This makes the customers to have personal connection with the products.

Lastly, trust has been significant for these entrepreneurs. It is fundamental part of entrepreneurship and significant part in getting things done right. They have succeeded because of the trust that many local and international have built in them. This has greatly improved the net income registered by these entrepreneurs hence the success of entrepreneurship in emerging countries.

In conclusion, entrepreneurship in emerging countries have been successful due to recognizing entrepreneurship theories, product design and trust that the customers have on the product manufactured by these countries.

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