Role of Childhood Family Environment in Business

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Role of Childhood Family Environment in Business Countries are said to be rich or poor depending on their level of economic development (Resurrection, 2001). You have heard, for example, the Philippines frequently described as a developing economy. This is because it is a poor nation in the process of building up its resources in order to become richer (Siochi, 2003). You know of course, that the United States, Japan and Germany are wealthy or highly developed nations. At the other extreme are countries like Bangladesh, Ethiopia and Pakistan -- all said to be underdeveloped economically (Resurrection, 2001). A country grows rich or poor depending on the extent by which its people have become entrepreneurial. “Entrepreneurial people are those who are able to perceive and take advantage of economic opportunities, who innovate and develop new products and services and one that invest their time, money and efforts to run a business” (Liberal, 1989). There was a time when it was believed that entrepreneurs were born rather than made. So unique and so rare were their qualities that they could not be found just anywhere (McClelland, 1981). Not everyone goes through the same set of life experiences. Any person will always come from another in his abilities and potential to succeed in any vocation (Siochi, 2003). Developing certain attitudes and values that help generate entrepreneurial qualities are the foundations of excellent performance in business. The overall parental relationship can establish the desirability of entrepreneurial activity for the individual (McClelland, 1981). Parents can be supportive and encourage independence, achievement and responsibility. Role model is one of the most important factors influencing entrepreneurs in their career choices because entrepreneurial qualities can be developed early in life as a result of childhood training
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