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Harvard
Subject:
Management
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Essay
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English (U.S.)
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Topic:

Entrepreneurial Economies Management Essay Research

Essay Instructions:

Requirements:
Assessment Task: Entrepreneurial Economies Essay Assignment (100%)
Word Count: 2500 words (excluding tables, references and statistical/text appendices)
You are required to write an essay which critically evaluates entrepreneurship in an economy of your choice. You can choose your own country or any developing economy, emerging economy, or an advanced economy. Your essay will enhance our understanding of the entrepreneurship process in the economy of your choice. Your essay must demonstrate your knowledge of “how entrepreneurship is fostered and/or hindered in the economy of your choice?”. You are strongly encouraged to include a discussion of how the Covid 19 pandemic affected entrepreneurship including how both entrepreneurs and policy makers responded to this exogenous shock that affected almost all businesses globally. In addition, you should succinctly examine entrepreneurial processes, innovation, the institutional environment and how it promotes or inhibits entrepreneurship in that country. For instance, some institutional realities (such as regulation, corruption, export promotion strategies, import substitution strategies…etc) and other relevant variables might hinder or promote entrepreneurship. On the other hand, innovation and technology are enablers. Based on entrepreneurship theories and relevant concepts of economic development, you are expected to provide empirical evidence in support of your arguments and reasons for your thinking. A critical evaluation means providing a critique of the various relevant debates including the evaluation of policies, the R & D or technology landscape designed to promote entrepreneurship. You should make use of existing published literature in international peer-reviewed journals (e.g. Entrepreneurship: Theory & Practice), book chapters, policy reports and evidence from the business press (e.g. the Economist magazine, Financial times) to substantiate your understanding of the key drivers of the entrepreneurship process in the economy of your choice. You can include both qualitative and quantitative literature.
You are NOT expected to collect your own primary data for this assignment. However, you can use secondary data to support your ideas, as well as empirical evidence from published literature or reports. A careful use of qualitative data, and evidence from studies based on a specific company or a group of companies in a given economic sector is also welcome.
Use of figures and tables to support discussions is encouraged, but such figures and tables should be appropriately captioned and referenced in the text. The document should be prepared with 1.5 line spacing.

Essay Sample Content Preview:

ENTREPRENEURIAL ECONOMIES: SINGAPORE
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Table of contents
Table of Contents TOC \o "1-3" \h \z \u Table of contents PAGEREF _Toc62511414 \h 1Introduction: PAGEREF _Toc62511415 \h 2How Singapore Became an Entrepreneurial hub PAGEREF _Toc62511416 \h 2It is easy to set up a business PAGEREF _Toc62511417 \h 2A vibrant entrepreneurial community PAGEREF _Toc62511418 \h 3Government support PAGEREF _Toc62511419 \h 5Singapore’s Entrepreneurship during COVID PAGEREF _Toc62511420 \h 7Lessons from Singapore PAGEREF _Toc62511421 \h 11Conclusion PAGEREF _Toc62511422 \h 11
Introduction:
SMEs make up about 99% of the overall enterprises in Singapore, contributing 47% of Singapore’s annual GDP CITATION She17 \l 1033 (Goh, 2017). Singapore has been ranked highly in many global competitions on entrepreneurship and other factors that foster an entrepreneurial environment such as ease of doing business. Singapore is one of the most dynamic and business-oriented nations globally and was also ranked the best by the IMD world in competitiveness ranking CITATION Asi \l 1033 (Asialink Business, n.d.). In each of these rankings, Singapore has performed well and has earned the country the coveted spot in competitiveness. Singapore’s entrepreneurial culture is exemplified by the fact that the country trading capacity is almost three times its GDP and its economy continues to grow at around 1.5-2.5 per cent CITATION Asi \l 1033 (Asialink Business, n.d.). All these statistics are the product of the country’s thriving entrepreneurial culture. Singapore’s focus on entrepreneurship has continued during the ongoing pandemic, and the government has stepped in to help entrepreneurs through the pandemic. This essay seeks to highlight the roots of Singapore’s entrepreneurial culture and factors that helped it become an entrepreneurial hub.
How Singapore Became an Entrepreneurial hub
It is easy to set up a business
Singapore has invested in easing the process of setting up a business. It has created a multifaceted system that helps entrepreneurs to set up their business. First, the registration of a new business in the country can be done online through bizfile portal. Thus, the process that takes days or even weeks in other countries can be done in a matter of hours if not minutes in Singapore. The Ministry of Manpower has also created a portal for foreigners to start and operate businesses in Singapore. Secondly, the Singaporean government has been very supportive to entrepreneurs. The political class has helped foster an entrepreneurial culture in the country. The government also helped entrepreneurs in various ways. First, the government offers grants to entrepreneurs. One of the most limiting factors for entrepreneurs is lack of capital and the government steps in this sphere in a major way. One of the most significant government intervention measures to entrepreneurs is giving them advice and any other necessary assistance to grow through various channels. For example, the Economic Development Board, Standards, Productivity and Innovation Board, Accounting Corporate Regulatory Authority and SMEPortal.sg. All these agencies and website help entre...
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