Establishing a Culture of Entrapreneurship as a Contributor to Sustainable Economic Growth

By Fourie, Leon de Wet | Journal of Global Business and Technology, Fall 2008 | Go to article overview

Establishing a Culture of Entrapreneurship as a Contributor to Sustainable Economic Growth


Fourie, Leon de Wet, Journal of Global Business and Technology


ABSTRACT

Potential creators of new ventures often struggle to obtain venture capital due to a lack of collateral. Entrapreneurship has been successfully used in countries such as the USA, Malaysia, Germany and Japan, and can also provide a solution for the high unemployment in South Africa and provide an income for people to become economic-active citizens. Within ethical parameters, managers can add value to organisational effectiveness and growth through the identification of new opportunities and the development of new markets in a global arena. Competence is generally defined as the skills, knowledge, attitudes, attributes and values required to perform a task and the ability to apply them in the work environment. For the purpose of this article, attitudes, attributes and values are referred to as personal competencies. This article accepts that managers have the generic competence requirements in terms of planning, leading, organising and control, but will attempt to point out the additional competence requirements that managers will need to be able to become entrapreneurial managers.

INTRODUCTION

South Africa has a population of 48.6 million (25 largest in the world), a well-diversified economy and is capable of producing a wide range of consumer and investment goods, and produces one fifth of the entire production of the African continent. Since 1998, South Africa's economic dependency on the export of raw materials, especially on gold, has lessened. The economy is based on foreign trade with more than half the gross national product (GNP) achieved through exports and imports. Exports consist mainly of mineral raw materials, agricultural produce, chemical products, machinery, electric appliances and vehicles; whilst import goods are machines, plastic products, chemicals and vehicles. Main export countries are, Japan (7.2%), Italy (6.2%), USA (6.2%), Germany (5.1%), Great Britain (4.8%) and Zimbabwe (4.1%); whilst import countries are Germany (13%), USA (11%), Great Britian (10.5%), Japan (7.4%), Italy (4.4%) and France (3.2%). In 2007 South Africa's Gross Domestic Product (GDP) was $666,95 billion (20th in the world) and had a per capita of $13, 845 (57th in the world).

Through the Accelerated and Shared Growth Initiative for South Africa (ASGISA) government attempts to ensure that economic growth is accelerated by at least 4,5% per annum over the period 2005 to 2009 to be followed by an average of 6% between 2010 to 2014. In the period 2005 to 2007 South Africa maintained an average of 5% per annum. This acceleration of growth is required to achieve the government's mandate of halving poverty and unemployment by 2014. ASGISA also includes infrastructure development to upgrade and build railway lines, harbors, ports and roads in the period 2005 to 2009. With South Africa's unemployment rate at 26.7% (2006), the infrastructure program is geared towards creating and sustaining employment. Government expenditure for infrastructure development will total more than R410 billion between 2007 and 2010. Of this, about 40% will be spent by public enterprises, mainly ESKOM (R84 million covering energy generation, transmission and distribution) and Transnet (R47 billion, of which R40 billion will go towards harbors, ports, railway and petroleum pipelines). Although this growth is seemingly significant, there is one particular area where government has not managed to succeed -job creation (Manuel, 2005, pp. 5 -6).

As in the case of the United States of America and Malaysia, entrepreneurship can provide the impetus for economic development and growth to address the redistribution of wealth based on a fair and unforced basis. With the support of government, entrepreneurship can also provide a solution for the high unemployment in the country and provide an income for people to become economic -active citizens. In the international arena entrepreneurship proved to support struggling economies. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Establishing a Culture of Entrapreneurship as a Contributor to Sustainable Economic Growth
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.