Entrepreneurship, the discovery and exploitation of new business opportunities, has become the buzzword of a knowledge-based global economy, and for a good reason. It is the only economic resource that cannot be transferred across corporate boundaries, and, therefore, the ultimate source of competitive advantage in global industries where imitation, market saturation, and lower entry barriers quickly eliminate market rents. Does China possess this resource?
To address this question, we must define and distinguish between two very different types of entrepreneurship, demand-side entrepreneurship and supply-side entrepreneurship. Demand-side entrepreneurship begins with consumer needs that have yet to be fulfilled and comes up with viable business concepts to bridge these gaps–the consumer is the center of the business universe. Economic resources, including capital, are raised after a business opportunity has been identified and explored.
To read the full, original article click on this link: A Tale of Two Types of Entrepreneurship in China - Forbes
Author:Panos Mourdoukoutas
