Factors | Assigned Country | European Country | Central American Country | Asian Country | Analysis & Evaluation | | United States of America | Russia | Mexico | Taiwan | | Management Styles, Systems, Practices | * American management seems to work best when the key needs are speed, aggression, last-minute genius, and take-chance, inspiring leadership.*pursue risk | * They foster management policies that may encourage more balance in a manager’s life, between work & private activities and risk & stability.* emphasis on efficiency, innovation, quality, and responsiveness to customers—even as one also finds adaptations to cultural differences.” | *Mexican management style follows the high power distance and collectivismfound in Mexican societal culture and this means that Mexican firms are more likely toadopt hierarchical structures with power vest at the top of the pyramid and introduce andfollow formalistic relationships between managers and workers* Paternalism and a sense of “extended family” arealso important factors of Mexican management styles. | * It is important for innovations to have a track record or history noting the benefits if they are to be accepted and implemented.*Taiwan is a fluid time culture, and, as is the case with many fluid time cultures, it is also very relationship-oriented. | Every entrepreneur should learn how to take a risk in order to succeed. But, we should also have to bear in mind that life should be a balance of professional and personal life, because in the first place , we are working in able for us to suffice our personal needs. And it shows the importance of documenting the past events so that we can be able to innovate it. | Business Culture | * In America, time is a very important commodity. People 'save' time and 'spend' time as if it were money in the bank. Americans ascribe personality characteristics and values based on how people use time.* They value logic and linear thinking and expect people to speak clearly and in a straightforward manner. To them if you don’t “tell it how it is” you simply waste time, and time is money.*People tend to not wait to be introduced, will begin to speak with strangers as they stand in a queue, sit next to each other at an event, etc. (approachable)*American schoolchildren are raised on stories about inventors such as Benjamin Franklin and Thomas Edison. | *Russians are traditionally very punctual, especially when meeting foreigners.*Russians can be very hospitable and are keen to demonstrate their generosity. | *Demonstrating trustworthiness, sincerity, and integrity are crucial to building relationships.*The family is at the centre of the social structure.*Business appointments are required and should be made at least 2 weeks in advance. Reconfirm the appointment one week before the meeting. | *Professional and also personal. Personal relationship or “Guanshi” are the key to doing business in Taiwan. Taiwanese people like to do business with people they know, are friendly with and trust.*Punctuality is a virtue; appointments are easy to schedule at all organizational levels. Telephone and e-mail contact is most convenient for such a purpose. | In business, time has a monetary value that’s why it is important, just as important as money, to budget and maximize the time we have. Money spent can be replenished but time wasted will never be. I think the one of the reason why Americans and other businessman pays a great respect to time is that because it is one of the things money cant buy, even the richest people, that’s why they are trying to maximize using it so that they could also save time for themselves and enjoy. Business, especially those who are very dedicated have already merged their personal life to ther professional life, in short , managers are sees professional life as a personal one that’s why they are very particulars to a closer relationship with each other and seeing their employees as a friend and not a servant. | Entrep. Development | *Between 1996 and 2004 it created an average of 550,000 small businesses every month. Many of those small businesses rapidly grow big. | *Center for Entrepreneurship is one of the leading forces for developing entrepreneurship in Russia. CFE is an entrepreneurship training, education and development organization that promotes economic opportunity, helps build a strong middle class, and enhances the relationship between Russia and the US. | *Over the last 20 years, the United States, Mexico and Canada have established one of the most competitive and successful economic platforms in the world. We have created a dynamic economic environment that engenders openness, innovation, and cooperation. This partnership has established the foundation that allows our countries to be market leaders in an increasingly competitive global economy and ensure our mutual prosperity. | *During the last four decades, the successful development of Taiwanese small and medium-sizedenterprises (SMEs) has become the most important part of Taiwan’s economic legend. | In the past years, and for the upcoming years, it is expected for a more competent and aggressive businesses especially nowadays that countries have been opening their respective doors for the open trade wherein companies can transact in the global scope. That’s why it is becoming competent does not rest to the company alone but to its employees as well in able to compete in a broader business jungle. | Competitive Environment | *Center of Innovation*Established alliaces to various countrye | *After the collapse of Soviet Union, the Russian Federation emerged as the largest country.The Russian Government has taken concrete steps and charted policies that make the business environment in Russia more favorable to foreign investment. The new regime has introduced policies that improves global competitiveness and encourage foreign investors to play an important role in Russia’s prosperity | *Mexico ranks among the easiest countries to do business in Latin America according to the World Bank's Ease of Doing Business 2012 report. | *Leading manufacturer of semiconductors widely used worldwide | In able to compete, a country should portray a competitive edge. Nowadays, technological intervention does a great contribution in the development and nourishment of a country, as we can see, the leading countries nowadays are those who has great technologies and it is rooted from great educational system. Therefore, we should learn to invest more in the education system of our country, train the youth so that they can upgrade the technology of the country in the mere future. | Entrepreneurial Capability | *The Global Entrepreneurship Monitor (GEM) conducted its 15th annual survey of entrepreneurshiparound the world. The United States survey of 5,698 working-age adults revealed high and stable newbusiness startup rates for the third consecutive year. Nearly 13% of the U.S. working age population was inthe process of starting or running a new business—the highest entrepreneurship rate reported among the 25developed economies that participated in GEM 2013 from North America, Europe, and Asia.*In 2013, an estimated 25 million Americans were starting or running new businesses, and 7.7 million projectedthey would employ six or more people in the next five years. In addition to these entrepreneurs, an estimated14 million Americans were running | *Only 4.7% of working age adults are early-stage entrepreneurs. Entrepreneurship continues to play a small role in the economy therefore 95.3% of working age is the potential entrepreneurial force of the country | *Mexico is continuially strengthening the the program for the Smal and Medium enterprises and invests for the technological enhancement of the country | *Taiwanese high-tech firms, thisinvestigation demonstrated that dynamic capabilities were significantly helping to leverage entrepreneurial resources to benefit start-upperformance, and moreover demonstrated that dynamic capabilities mediated between entrepreneurial resources and performance. | Every country has its potentials that’s why we have to discover our strengths, cultivate it and use it as a competitive advantage. As we can see there are different initiatives used by other countries to strengthen their selves, th ey established a support group to support and discover the entrepreneurial acticvities og hteir respective countries. They have also been focused on enhancing their technologies. | Support of the Government | *The Global Entrepreneurship Program (GEP) is a U.S. State Department-led effort to promote and spur entrepreneurship by catalyzing and coordinating private sector and U.S. Government programs to support entrepreneurs around the world.* | *The Russian government is active in shaping the business environment for SMEs – both through legislative improvements and by providing direct financial support,e.g. from state-owned SME Bank (VEB Group) | *Mexico has become increasingly focused on fostering entrepreneurship in recent years. In early2013, the Mexican Government created the Instituto Nacional del Emprendedor (NationalEntrepreneur Institute, or INADEM), an administrative body within the Ministry of Economyspecifically aimed at developing a stronger entrepreneurial ecosystem.1 The launch underlinedthe country’s commitment to accelerating innovation and improving Mexico’s competitiveness. | *$50,000 loan to entrepreneurs overseas to start their internet company here in Taiwan. If they can hire 10 Taiwanese in a year, the loan is forgiven. You get to attract highly educated foreign talents, create jobs for domestic market and build a vibrant startup hub here in Taiwan. | Capital and support from the government is vital for the entrpreneurs, more specially to those who are on the start-up stage. As we can see these countries established mechanisms to promote, support and back up entrepreneurials activities of the country because they know that it will have a return in the government, employees, and other stakeholders, and through these, their would ba more entrepreneurial activity which will help in the circulation and distribution of financial resources of the country. |