Values and Entrepreneurship in the Americas

Abstract

The relationship between values and entrepreneurial behavior is explored by reviewing recent research on value orientations and entrepreneurship in Latin America. Latin American entrepreneurs place personal and emotional interests ahead of business, are unusually likely to practice nepotism, and are fairly averse to risk.Considering that the Latin American value system discourages entrepreneurial behavior, it is possible to regard Latin American entrepreneurs as sociological "deviants."Whereas North American entrepreneurs belong to mainstream structures of society, Latin American entrepreneurs are often marginal figures of foreign origin who have studied "modern," non-traditional disciplines such as engineering and pharmacy.In North America, members of the business elite hail from families and communities with socially privileged backgrounds.The entrepreneurial drive, in other words, is a value associated with "in groups" in North America.In short, cultural values are among the major forces that affect a nation's potential for economic development.(SAA)

Keywords: Latin Americans, Cultural values, Behavior (individual), Cultural differences, Cultural attitudes