Cultural Diversity of Entrepreneurship

Cultural diversity encompasses a multitude of cultures or societies. It includes factors such as religion, language, age, gender, family, sexual orientation, ethnic origin, and social status. In contemporary societies, emerging entrepreneurial trends are influenced by key issues of cultural diversity.







Ethnicity and Entrepreneurship:

Ethnicity is a particular group of people or a social group having a common, distinctive and shared culture. According to the New American Heritage Cultural Dictionary, ethnicity refers to "identity with or as a member of a particular racial, national or cultural group and respect the customs, beliefs and language of that group”. Some studies on ethnicity and entrepreneurship are highlighted:

 Fra toe (1986) points out that "ethnic enterprise" can be viewed as a "group-level phenomenon". He argued that this was due to the company's dependence on the group

 Resources.

 Other researchers suggest that organizations

Ø  The organization's business strategy must be consistent with the Environment.

Ø  When the environment is related to group values, such as "collectivism, duty, loyalty", for example, the alignment of business strategy is strongly influenced by the values ​​of the group.

Ø  Ethnic. Enz et al. (1990) argue that the group's fit with values ​​affects business performance more than it affects the dominant national culture. 

Ø  Landau (2007) considers the role of the family as an agent of culture and cultural values.

Ø  The family as a society.

Ø  The all structure is considered indispensable for the “understanding of management processes of ethnic family businesses compared with traditional enterprises”.

Young Entrepreneurs:

Young people are enthusiastically embracing entrepreneurship as a career option. Many young people are confused about their future in the corporate world and are willing to risk taking on their own destiny, choosing entrepreneurship as their first career path. People are starting to realize that they don't have to dress formally to work and talk about budgets every day. Now they can do whatever they want. Can create jobs.

Women Entrepreneurs:

Even after decades of legislative efforts, the fair sex is still discriminated against in the workplace. However, small businesses are leaders in providing economic growth opportunities for women through entrepreneurship. More and more women are realizing that the best way to end discrimination is to start their own business.

Part-Time Entrepreneurs:

Starting a part-time business is a common entry point into entrepreneurship. Part-time entrepreneurs can become self-employed without sacrificing a steady salary and benefits. The internet makes starting and running a side business a lot easier. Many part-time entrepreneurs run his business online from a spare room at home. A big advantage of part-time jobs is that there is little risk even if the company goes bankrupt. Many part-time employees want to see if their business her idea is going to work, if there is enough demand for their products and services, and if they enjoy being self-employed. As they grow, many successful part-time businesses dedicate a lot of their entrepreneur's time to making it a full-time business.

Home-Based and Family Businesses:

Home business is booming. A home business allows owners to maintain a flexible lifestyle and work style. Many work-from-home entrepreneurs enjoy being part of an open-collar workforce. A family business is a business that is financially controlled by two or more family members, and such businesses are an integral part of our economy.

Minority Enterprises:

Another fast-growing area of ​​SMEs is minority-owned companies. Asians, Arabs, and African Americans are the minority groups most likely to become entrepreneurs. The future is bright for this new breed of minority entrepreneurs who are more educated, more business experienced and more ready to run a business than their predecessors.

Retirees:

The number of older entrepreneurs is growing as people live longer and remain active as they age. According to a study by the Ewing Marion Kaufman Foundation, the entrepreneurial activity of 55-64 year olds is higher than that of 20-34 year olds. One of her advantages that older entrepreneurs have is her experiential wisdom.