Doing Business in Minority Markets: Black and Korean Entrepreneurs in Chicago's Ethnic Beauty Aids Industry

Doing Business in Minority Markets: Black and Korean Entrepreneurs in Chicago's Ethnic Beauty Aids Industry

Doing Business in Minority Markets: Black and Korean Entrepreneurs in Chicago's Ethnic Beauty Aids Industry

Doing Business in Minority Markets: Black and Korean Entrepreneurs in Chicago's Ethnic Beauty Aids Industry

Synopsis

This book examines black and Korean entrepreneurship in Chicago's ethnic beauty aids industry. In the case of each entrepreneurial group, business activities are heavily influenced by the economic conditions found on the South Side of Chicago. For instance, both groups provide goods and services to black consumers, both groups modify their business practices in response to the depressed incomes and disinvestment in the communities where they are located, and both groups mobilize resources based on ethnicity and social class in order to overcome the economic constraints found in the market setting where their businesses operate. This book is unique for two reasons. First, it examines the context of black and Korean entrepreneurship from an historical and sociological perspective. Through this approach, continuity and change in entrepreneurial behavior is identified. Second, it examined black and Korean Entrepreneurship within the context of a single industry, the ethnic beauty aids industry. Thisapproach allows for a thorough analysis of networks and organizational interactions between black and Korean entrepreneurs at all levels of this industry manufacturing, distribution, and retailing. The findings in this book add to existing research on Entrepreneurship in minority communities, and offer a reformulation of theories concerning middleman minority groups, black Entrepreneurship, and economic under development.

Excerpt

The invisible hand of the market cannot conceal color. This study contends that the economy is an extension of society’s system of racial and ethnic stratification. The central argument of this study is that the internal colonial paradigm should be used as a guiding principle in the analysis of minority business development in minority markets. Through the use of this paradigm, the institutional constraints of doing business in a minority market can be identified. Elevating the analysis of minority business development to an institutional level serves academic and practical ends. It allows for a more holistic understanding of the relationship between institutional forces and individual economic action, and it allows public officials to draw from these insights in a way that informs sound public policy. Although many issues are discussed in this study, its focus is on forwarding an argument for the internal colonial framework to public discourse. To build support for this argument, a case study is presented that focuses on the role of race and ethnicity in a specific sector of the economy, the ethnic beauty aids industry in Chicago. Through this case study, issues that affect the structure of minority businesses and their relative competitiveness will be examined. This goal of this analysis is to highlight the economic mechanisms responsible for the maintenance and reproduction of internal colonialism within the context of minority markets.

The ethnic beauty aids industry was selected as the subject of this case study because it is embedded in the context of minority

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