The Impact Of Ethnic Diversity On The Development Of An...

With the increasing presence of globalisation and rapid emergence of new markets, entrepreneurship is becoming more prevalent. According to the Global Entrepreneurship Monitor (GEM), there is usually high Total Entrepreneurial Activity (TEA) in countries like Australia, Canada and United States, whereas there is low TEA in Norway and United Kingdom . Generally, entrepreneurship can be defined as â€Å"a purposeful activity to initiate, maintain and develop a profit-orientated business† . However, for one to succeed as an entrepreneur, they must go beyond the ‘norm’ and differentiate themselves from other competing entrepreneurs; this may be achieved by embracing both social and ethnic diversity. Social diversity refers to the different factors that set individuals apart in a society like gender, age or religion, whereas ethnic diversity looks at different ethnic groups and cultures . This report will first look at how ethnic diversity contributes to the developmen t of an entrepreneur, and the limitations to this using Hofstede’s framework. It will also look at social diversity and entrepreneurship, particularly focusing on gender. Finally, the report will conclude whether social and ethnic diversity may be beneficial to entrepreneurship and development in general overall. It can be argued that ethnic diversity helps with the advancement of an entrepreneur. As the foundations of good entrepreneurship lie within producing unique and innovative ideas, incorporating differentShow MoreRelatedDiversity in the Workplace Essay examples1414 Words   |  6 Pages Abstract This paper is aimed at providing a framework for discussion of diversity and how it pairs with demographic characteristics. It is divided into four parts. 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