The role of family members in the prospects of female entrepreneurs Literature review

The role of family members in the prospects of female entrepreneurs - Literature review ExampleThe paper tells that business as a profit-oriented initiative primarily entails risk. This is the bank note of the works of authors such as Timmons and Spinelli and Ward and Aronoff who put forward conceptual definition of enterprise as a pursuit of opportunity that requires the investment of resources and the performance of control. The definition involve the variables such the requirement of considerable investment that one cannot control and the role of people and their motivation towards the enterprises cause and objective. For these prior works, family becomes an inevitable modeling - ready and stable - that could address the social, economic and psychological challenges involved in starting and managing businesses. Indeed, even the most liberal and sophisticated economies such as those in Europe and the United States, family-owned businesses constitute as much as 85 percent of the respective aggregate enterprises. There is no business landscape wherein family-owned or controlled business model thrives than in Asian countries such as China. The cultural and social contexts underscore tight familial relationship as ideal, which naturally ladder to business pursuits because it provides mechanism of effective control and support. Zapalska and Edwards work tells us more about this in detail with their in-depth analysis of the Chinese Confucian thought and how and why it places great importance to the family. As has been the case in China, the culture emphasizes respect for the elders as well as high regard for authority and the hierarchy on social and organizational levels.