This paper presents a theoretical framework in which the relationships between ethnic entrepreneurs and the communities in which they work can be understood. The nature of social ties that affect ethnic entrepreneurs is described. Drawing on concepts from the family business literature, it is proposed that entrepreneurs will have an ambivalent relationship with their employees, customers, co-ethnic business people and the community at large. Several propositions to be tested in future research are developed. Introduction In August 1993, Johnson Products Company Inc., a US firm specializing in hair-care products, was sold to IVAX Corporation, a cosmetics & pharmaceutical conglomerate, for $67 million. Widespread consternation and vigorous debate ensued. Central to the controversy was the fact that Johnson Products had been founded by black entrepreneurs and managed by them for almost 40 years, and IVAX was a white-owned firm (Edmond, 1993). Many members of the black community objected...

This paper relates a series of current development in the literature of economics and psychology as they relate to decision making by households and business firms. The first part of the paper reviews recent literature dealing with happiness and subjective wellbeing. In the second part of the paper recent developments in management science that make use of intuition and mental focus are related to firm profitability and improved economic efficiency. Both of these recent developments can provide critical insights into improving the “bottom line ” performance of policy makers, managers and society as a whole at both the macroeconomic and microeconomic levels. These ideas are then used to design to and develop a series of policy suggestions that refocus attention on the concept of subjective well being or happiness as opposed to economic utility maximization as well as the role of intuition and the concept of “flow ” in the decision making process. of top managers. We can summarize these ideas succinctly by focusing on two sets of variables relating to decision making and decision outcome in a two by two matrix summarized in the Table

Entrepreneurship is of critical importance to the modern economy. Researchers have studied entrepreneurship for decades. In recent years, significant relationship between entrepreneurial competencies and firm performance has been reported in empirical studies. Applying the competency approach, researchers have assumed that entrepreneurial competency differentiates entrepreneurs from non-entrepreneurs without empirically examining if this is the case. The research conducted under this thesis addresses this gap. Drawing upon a thorough literature review regarding the components, antecedents and performance outcomes of the entrepreneurial competency, we propose the following hypothesis: the entrepreneurs generally possess higher level of