Concept of Business Entrepreneurship of United States and China (Essay Sample)

Business Entrepreneurship
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Business Entrepreneurship
Entrepreneurship refers to the idea of creating and managing a business venture to make a profit by taking proportionate risks in the business world. An entrepreneur is widely perceived as an innovator, developing new ideas, services, goods, and procedures. Entrepreneurs play a major function in an economy, using the initiative and skills necessary to predict needs and supplying new business ideas to the market. Types of entrepreneurships include small businesses, scalable startups, large companies, and social entrepreneurship (Kuratko, 2020). Entrepreneurs usually employ all factors of production to provide services or manufacture products. They typically generate a business plan, acquire financing and resources, hire labor and administer management and leadership.
China has different business etiquette and norms from those of the United States. In China, when having a business meeting, it is customary to bring a properly wrapped gift to the host and offer it using both hands. Nevertheless, the host does not accept the gift right away, so one should be prepared for rejection. It is part of Chinese norms for the giftee to reject the gift up to three times before accepting it the fourth time (Verstappen, 2015). Therefore, the gifter should be very patient and should not stop offering the gift until the host accepts it. In the United States, when conducting business, the visitors usually do not show up with presents for the host. Another business etiquette and norm different from that of the United States is that it is considered rude to say no while conducting negotiations for a product or service in China. Chinese culture is primarily based on extreme politeness, especially on offers; thus, business people find it challenging to refuse requests. In most cases, when conducting negotiations, the trader will continue with the discussion unceasing until the other party comprehends that they do not want to fulfill the request under the provided conditions. Therefore, business negotiations usually take hours and even days before concluding. On the other hand, in the United States, traders do not usually feel constrained to say no to an offer they find unsatisfactory. Therefore, negotiations do not take as much time. Another business etiquette and norm different from that of the United States is observing hierarchy when entering a room. The Chinese people have high regard for authority, people in power and social institutions (Verstappen, 2015). Therefore, in honor of people in power, they usually enter a room in hierarchical order from the person with the highest level of seniority to the most junior person. In the United States, when entering a room, hierarchy is not observed, and, on most occasions, the most senior person enters the room last.
Another business etiquette and norm different from that of the United States