This paper explores the cultural impacts on the private entrepreneurship in the post-Doi
Moi Vietnam.Some important aspects of the traditional cultural values of the Vietnamese
society are explored along with the socioeconomic changes over the past two decades.
In the academic circle across the world, entrepreneurship has enjoyed a
voluminous literature contributed by many scholars in economics, sociology, anthropology,
business management and political sciences, since the
mid-20th century. The research line of entrepreneurship has received huge attention from the economists' community across
the world, especially after the seminal work in 1934, by Joseph Schumpeter's
The Theory of Economic Development. In his study, Schumpeter placed entrepreneurship in a
major theoretical framework to track the progress of human society and economic growth. Since
the study of Schumpeter, there has been a major shift in the perception of
economists. Entrepreneurs could now be considered a crucial factor in contributing to the
economic growth by taking up opportunities, creating
business and fostering innovation. By doing all these, entrepreneurship processes shift the economy out of an equilibrium state, while
creating new states (Greenfield and Strickson, 1981).
Stevenson and Jarillo (1990) provided a decent review on a plethora of
entrepreneurship studies across the world. Three main streams of research are presented. The first area
of literature is concerned with the consideration of what happens when entrepreneurs act; or
in other words, they study the net effect on the general economic system of the actions
performed by entrepreneurs. Major scholars who contributed significantly to this area are,
inter alia, Richard Cantillo (who first coined the term `entrepreneur'), Jean Baptiste Say, Adam
Smith and Joseph Schumpeter. |