Organizational Mindset of Entrepreneurship by Veland Ramadani & Ramo Palalić & Léo-Paul Dana & Norris Krueger & Andrea Caputo

Author:Veland Ramadani & Ramo Palalić & Léo-Paul Dana & Norris Krueger & Andrea Caputo
Language: eng
Format: epub
ISBN: 9783030369514
Publisher: Springer International Publishing

5 Some Conclusions

The Republic of Moldova belongs to countries with emerging market economies, which are characterized by an unfavorable business environment. In such conditions, the role of the entrepreneur, entrepreneurial mindset, and developed business strategies is particularly significant, since along with the usual risks characteristic for a market economy, the entrepreneur has to overcome additional barriers associated with the shadow economy, corruption, etc.

Analysis of the business strategies of owners of Moldavian SMEs showed that many of them are flexible, contribute to the growth of competitiveness and take into account the peculiarities of the environment, meaning that they are based on entrepreneurial mindset. The implemented business strategies are aimed mainly at the development of human capital, organizational transformations, and cooperation of businesses. These strategies involve the training of workers directly in enterprises, being also implemented through online training. Trainings aimed at the formation of corporate values are conducted. Long-term strategies for cooperation with educational institutions where potential employees for their business are being trained are also implemented.

The implementation of some business strategies, which are also original and take into account the specific features of a particular business, contributes to the growth of enterprises only in an unfriendly environment. At the core of such strategies is the perception by entrepreneurs of the business environment as unfriendly and unstable, which causes them to be overly cautious, choosing to maintain or slowly develop a business with low risks. These strategies include, for example, the lack of willingness to take out loans from banking institutions, and reliance solely on their own resources; restriction mainly to the number of regular customers (which is comfortable, does not require significant costs and increases the opportunity to work in the informal economy); orientation toward the development of an individual or family business (given the previous negative experience of relations between the founders or the existence of conflicts in the team). With the improvement of the business climate, such business strategies may no longer contribute, but on the contrary, limit business development.

References

Actualitati.Md. (2014). Каждый день из Молдовы уезжают навсегда около 100 человек [Online]. Retrieved December 1, 2018, from http://​actualitati.​md/​kazhdyj-den-iz-moldovy-uezzhajut-navseg

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