Entrepreneurship and Management

The role of the entrepreneur is today regarded as crucial in the success of the business enterprise, a perception that has not always existed. How that role is fulfilled most effectively, though, remains a matter for much contention. The postwar ascendancy of many Japanese firms was particularly associated with long-term strategic planning through shared decision-making. Entrepreneurial skills were concentrated on a narrowly focused individual firm and its enterprise group within a local setting. Emphasis was placed on strategies that were market-driven, fostered close interfirm relationships, and empowered employees. The dominant Westernised, or at least American, paradigm has been somewhat different. It emphasised broad generic management skills in large diverse corporations, with decision-making concentrated in elite head offices that oversaw wide geographic empires and concentrated upon performance-monitoring and problem-solving.