BusinessHow People envision becoming an Entrepreneur in North Korea

How People envision becoming an Entrepreneur in North Korea

-

- Advertisment -sslate

Despite the fact most forms are illegal, entrepreneurial engagement is still possible and desirable in North Korea, according to new research by Aalto University School of Business.

The study, conducted by Professor Ewald Kibler and his co-authors, examined how individuals wish to become an entrepreneur under the serious institutional constraints in a rigid, planned economy.

They found that despite the fact most commercial forms of entrepreneurship are illegitimate, and often illegal, individuals residing in North Korea are very much able to identify opportunities for entrepreneurial engagement.

The researchers were able to distinguish four types of prospective entrepreneurial narratives: personal dreamwork, economic patriotism, industrious collectivism, and individualistic heroism.

With personal dreamwork, individuals dismiss the expectation to follow the governments directives by developing novel products and service based on their personal interests.

Business tech

“This observation is puzzling because prior research on North Korea commonly points towards the rigid and strict limitations of business ownership, as illustrated by the words of a North Korean presented in Kim and Rousseau’s (2019) study, ‘In North Korea, even if you work hard, there is nothing you can own.’ Such view sharply contrasts with what we identify as personal dreamwork, where North Koreans strongly envision entrepreneurial ownership,” says Professor Kibler.

For individualistic heroism, the individual adopts the dominant template of government approved businesses to pursue personal goals that contradicts existing norms, but conformity is only displayed to gain legitimacy.

ds

With industrious collectivism, compromise is shown because entrepreneurs try to strike a balance between firms’ internal goals (to generate profit, innovate etc.), and its external goals (to contribute to society).

And finally, with economic patriotism, individuals use their elite status and exclusive social connections in order to gain legitimacy in a planned economy.

The study reveals that for entrepreneurs in North Korea, it is mostly value-laden and politically charged, suggesting that entrepreneurs make use of political strategies to gain favour and approval within the context of constraining institutions.

The research was published in the Journal Academy of Management Discoveries.

Sunshine Slate
Sunshine Slatehttps://www.sunshineslate.com
Sunshine Slate is your news, entertainment, music fashion website. We provide you with the latest breaking news and videos straight from the United States of America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Capturing Brilliance: The Unmatched Value of Professional Photography

This guide delves into why choosing a professional photographer for those vital images is a decision that adds incomparable value.

Congress needs to act quickly, wisely on Medicare teleheath provisions

Telehealth has been key to health care in the wake of the COVID-19 pandemic, but some of the flexibilities for this type of care for Medicare patients could expire soon.

Best Apps and Games for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

Decoding The Role of Professional Home Builders in Realising Your Dream Abode

From choosing the right design, materials, and fixtures to ensuring a timely completion, the complexities involved are numerous. This is where the role of a professional home builder assumes paramount importance.
- Advertisement -

New map reveals high wildfire risks for Florida amid heat wave

A newly updated wildfire risk map could help level the playing field for rural communities who don't have the resources to conduct their own wildfire risk assessments

Essential Summer Safety Tips for staying Healthy in Florida heat

As the summer sun blazes, especially in the Sunshine State, it is easy to get caught up in the fun and excitement of the season.
edealo.com
- Advertisement -sslate
transformerscon

Must read

Best Apps and Games for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

Florida aims to build a comprehensive crisis response system

Florida is getting attention for its efforts to create a comprehensive crisis response system for mental health needs.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you