business risks; some Catalan companies are aggressively penetrating international markets, in some cases by acquiring foreign companies and/or making foreign direct investments; an increasing number of companies are accepting the technological challenge by pioneering highly innovative fields such as biotechnology and new materials; Catalan business schools are extremely active providing well-trained executives who, undoubtedly, become part of managing teams of local companies. Whether this is just another wave of optimism resulting from any one or a combination of the following factors remains to be seen: (1) the gradual solution to many problems that Spain as a whole has had to solve, (2) Spain's economic recovery, (3) the after-effects of Spain's joining the European Economic Community, or (4) the reestablishment of Catalan institutions. In any case, the characteristics and personality traits of Catalan business professionals described here are likely to continue to have an influence on the way business will be conducted in Catalonia.
More rigorous research is needed to better understand the main sources of the strengths and weaknesses that have sustained this region's prosperity throughout history. "How would it be possible to further develop these strengths and what, if any, are the major effects that the important sociopolitical changes affecting Spain might have on the Catalan entrepreneur?" This question requires further inquiry.
The original manuscript was revised and edited by Professor Joseph W. Weiss.